Glencore plc (OTCMKTS:GLCNF) Sees Significant Decrease in Short Interest

Glencore plc (OTCMKTS:GLCNF) was the target of a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 6,417,925 shares, a decline of 28.1% from the December 15th total of 8,929,350 shares. Based on an average daily volume of 18,376 shares, the short-interest ratio is currently 349.3 days. Based on an average daily volume of 18,376 shares, the short-interest ratio is currently 349.3 days.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank set a $12.90 price target on Glencore in a research note on Wednesday, December 17th.

Glencore Trading Down 2.3%

Shares of OTCMKTS:GLCNF opened at $6.42 on Friday. The stock has a 50-day simple moving average of $5.23 and a 200-day simple moving average of $4.61. Glencore has a 1 year low of $2.88 and a 1 year high of $6.60.

Glencore Company Profile

Glencore plc is a global leader in the production, marketing and trading of commodities. Through its diversified portfolio, the company operates in two principal segments: Metals & Minerals, and Energy Products. In Metals & Minerals, Glencore produces and trades a wide array of industrial metals, including copper, zinc, nickel, cobalt, lead, aluminum, iron ore and coal. Its Energy Products segment encompasses the sourcing, storage and distribution of crude oil, refined products, natural gas and liquefied petroleum gas, while also managing a significant agricultural trading business that handles grains, oilseeds and sugar.

Founded in 1974 by Marc Rich as Marc Rich + Co International, the company rebranded to Glencore in 1994 and has since expanded through both organic growth and strategic acquisitions.