Glencore PLC (OTCMKTS:GLNCY) Short Interest Update

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 recipient of a large increase in short interest in July. As of July 15th, there was short interest totaling 495,200 shares, anincreaseof50.3% from the June 30th total of 329,400 shares. Based on an average daily trading volume, of 1,311,100 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily trading volume, of 1,311,100 shares, the days-to-cover ratio is currently 0.4 days.

Glencore Price Performance

Shares of GLNCY stock traded up $0.09 during trading hours on Monday, reaching $7.83. 234,713 shares of the company were exchanged, compared to its average volume of 1,026,519. The stock's fifty day moving average is $8.00 and its two-hundred day moving average is $7.72. Glencore has a fifty-two week low of $5.74 and a fifty-two week high of $11.56. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.20 and a quick ratio of 0.60.

Analysts Set New Price Targets

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

Glencore Company Profile

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.