Glencore PLC (OTCMKTS:GLNCY) Sees Large Decrease in Short Interest

Key Points

• Short interest in Glencore fell by 18.0% in March to 437,659 shares as of March 31, leaving a very low days-to-cover ratio of 0.2 days and approximately 0.0% of shares short sold.
• Analysts give Glencore a consensus Moderate Buy rating (1 Strong Buy, 6 Buy, 3 Hold) with a consensus target price of $9.30.
• Shares opened at $15.05 (down 1.6%), trading near a 12‑month high of $15.44 with 50-day and 200-day moving averages of $14.13 and $11.77, respectively.

Glencore PLC (OTCMKTS:GLNCY - Get Free Report) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totaling 437,659 shares, a drop of 18.0% from the March 15th total of 533,844 shares. Based on an average daily volume of 2,232,911 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.0% of the shares of the company are short sold.

Wall Street Analyst Weigh In

GLNCY has been the topic of several research analyst reports. Royal Bank Of Canada restated an "outperform" rating on shares of Glencore in a research note on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Glencore in a research note on Friday, January 30th. Morgan Stanley restated an "overweight" rating on shares of Glencore in a research note on Thursday, April 9th. HSBC upgraded Glencore from a "hold" rating to a "buy" rating in a research note on Tuesday. Finally, Barclays restated an "overweight" rating on shares of Glencore in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, six have issued 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 a consensus target price of $9.30.

Glencore Stock Down 1.6%

Shares of GLNCY opened at $15.05 on Thursday. The business's fifty day moving average price is $14.13 and its 200 day moving average price is $11.77. Glencore has a 12-month low of $6.31 and a 12-month high of $15.44. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.54 and a current ratio of 1.06.

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.

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