Short Interest in Glencore PLC (OTCMKTS:GLNCY) Drops By 47.0%

Glencore PLC (OTCMKTS:GLNCY) was the target of a significant decline in short interest in the month of January. As of January 30th, there was short interest totaling 252,492 shares, a decline of 47.0% from the January 15th total of 476,404 shares. Based on an average daily trading volume, of 1,449,732 shares, the short-interest ratio is presently 0.2 days. Approximately 0.0% of the company’s shares are short sold. Approximately 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 1,449,732 shares, the short-interest ratio is presently 0.2 days.

Glencore Price Performance

OTCMKTS:GLNCY traded up $0.07 during trading hours on Friday, reaching $13.49. The company’s stock had a trading volume of 410,321 shares, compared to its average volume of 654,133. Glencore has a 12 month low of $5.74 and a 12 month high of $14.67. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.58 and a current ratio of 1.15. The stock has a 50 day moving average price of $12.02 and a two-hundred day moving average price of $9.88.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GLNCY. Barclays reissued an “overweight” rating on shares of Glencore in a research note on Monday, December 8th. Morgan Stanley reiterated an “overweight” rating on shares of Glencore in a research report on Wednesday, January 28th. HSBC lowered shares of Glencore to a “hold” rating in a research note on Monday, January 26th. Sanford C. Bernstein cut shares of Glencore from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Glencore in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.30.

About Glencore

Glencore is a global natural resources company engaged in the production, processing and marketing of commodities. The business combines large-scale mining and metals operations with an extensive physical commodities trading and marketing platform. Its activities span the full commodity value chain, from extraction and smelting/refining to the commercial distribution of metals and energy products to industrial customers worldwide.

Key product areas include base and precious metals (such as copper, zinc, nickel and related concentrates), bulk commodities and energy products (including thermal coal and oil) and associated value‑added materials and services.