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

Key Points

• Glencore's short interest plunged 27.1% in April to 319,095 shares, equating to a short‑interest ratio of 0.3 days and effectively 0.0% of shares shorted.
• Shares traded up 1.4% to $15.00 on above‑average volume and are near a 12‑month high of $15.44, while analysts show an average rating of Moderate Buy but a consensus price target of $9.30.

Glencore PLC (OTCMKTS:GLNCY - Get Free Report) saw a large drop in short interest during the month of April. As of April 15th, there was short interest totaling 319,095 shares, a drop of 27.1% from the March 31st total of 437,659 shares. Based on an average daily volume of 1,257,753 shares, the short-interest ratio is presently 0.3 days. Currently, 0.0% of the company's shares are short sold.

Glencore Trading Up 1.4%

Shares of GLNCY traded up $0.21 during trading hours on Wednesday, reaching $15.00. 802,762 shares of the company traded hands, compared to its average volume of 768,809. The company's fifty day moving average price is $14.41 and its two-hundred day moving average price is $12.14. The company has a current ratio of 1.06, a quick ratio of 0.54 and a debt-to-equity ratio of 0.84. Glencore has a 12 month low of $6.31 and a 12 month high of $15.44.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GLNCY shares. HSBC raised shares of Glencore from a "hold" rating to a "buy" rating in a report on Tuesday, April 14th. Royal Bank Of Canada reissued an "outperform" rating on shares of Glencore in a report on Wednesday, February 4th. Citigroup reissued a "buy" rating on shares of Glencore in a report on Monday, April 13th. Barclays reissued an "overweight" rating on shares of Glencore in a report on Wednesday, February 25th. Finally, UBS Group raised shares of Glencore to a "hold" rating in a report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $9.30.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.