Short Interest in Glencore PLC (OTCMKTS:GLNCY) Grows By 50.3%

Key Points

• Short interest in Glencore PLC saw a significant increase of 50.3% from the end of June to mid-July, reaching a total of 495,200 shares.
• Goldman Sachs has downgraded Glencore to a "neutral" rating, although the stock still holds an average rating of "Strong Buy" from other analysts.
• Glencore's stock has dropped 5.4% recently, with current share prices opening at $7.54 and a twelve-month range between $5.74 and $11.56.

Glencore PLC (OTCMKTS:GLNCY - Get Free Report) was the target of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 495,200 shares, agrowthof50.3% from the June 30th total of 329,400 shares. Based on an average trading volume of 1,311,100 shares, the days-to-cover ratio is presently 0.4 days. Based on an average trading volume of 1,311,100 shares, the days-to-cover ratio is presently 0.4 days.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group lowered Glencore to a "neutral" rating in a report on Thursday. One research analyst has rated the stock with a hold rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Strong Buy".

Glencore Trading Down 5.4%

Shares of GLNCY stock opened at $7.54 on Thursday. Glencore has a twelve month low of $5.74 and a twelve month high of $11.56. The company's 50-day moving average price is $7.99 and its 200-day moving average price is $7.77. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.20 and a quick ratio of 0.60.

About Glencore

Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania. It operates through two segments: Marketing Activities and Industrial Activities. The company engages in production and marketing copper, cobalt, lead, nickel, zinc, chrome ore, ferrochrome, vanadium, aluminum, alumina, and iron ore; and coal, crude oil, refined products, and natural gas, as well as oil exploration/production and refining/distribution.

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