Glencore PLC (OTCMKTS:GLNCY) Short Interest Down 61.9% in May

Glencore PLC (OTCMKTS:GLNCY) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totaling 450,928 shares, a decrease of 61.9% from the April 30th total of 1,184,810 shares. Based on an average daily trading volume, of 1,202,853 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.0% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GLNCY shares. Royal Bank Of Canada reissued an “outperform” rating on shares of Glencore in a research report on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Glencore in a research report on Friday, May 15th. Citigroup reissued a “buy” rating on shares of Glencore in a research report on Monday, April 13th. UBS Group raised Glencore to a “hold” rating in a research report on Monday, February 9th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Glencore in a research report on Thursday, April 9th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Glencore presently has an average rating of “Moderate Buy” and an average price target of $9.30.

Glencore Stock Performance

GLNCY opened at $15.16 on Friday. Glencore has a 12-month low of $7.40 and a 12-month high of $16.04. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.06 and a quick ratio of 0.54. The business’s fifty day simple moving average is $15.03 and its 200-day simple moving average is $13.02.

Glencore Company Profile

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.