Short Interest in Glencore PLC (OTCMKTS:GLNCY) Rises By 165.0%

Key Points

• Short interest in Glencore PLC increased significantly by 165.0% in September, totaling 429,800 shares as of September 30th.
• Research analysts have an average rating of "Buy" for Glencore, with a consensus price target set at $9.30.
• Glencore recently paid a dividend of $0.085 per share, representing a yield of 210.0%.

Glencore PLC (OTCMKTS:GLNCY - Get Free Report) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 429,800 shares, an increase of 165.0% from the September 15th total of 162,200 shares. Based on an average daily trading volume, of 1,079,500 shares, the short-interest ratio is currently 0.4 days. Based on an average daily trading volume, of 1,079,500 shares, the short-interest ratio is currently 0.4 days.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GLNCY shares. Morgan Stanley restated an "overweight" rating on shares of Glencore in a research report on Wednesday, October 8th. Citigroup reissued a "buy" rating on shares of Glencore in a research note on Friday, September 26th. Berenberg Bank set a $9.30 price objective on shares of Glencore in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group lowered shares of Glencore to a "neutral" rating in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Glencore has an average rating of "Buy" and a consensus price target of $9.30.

Glencore Trading Down 0.8%

OTCMKTS:GLNCY traded down $0.07 during midday trading on Friday, reaching $9.23. 458,682 shares of the stock traded hands, compared to its average volume of 545,200. Glencore has a 12 month low of $5.74 and a 12 month high of $10.82. The company has a fifty day moving average of $8.45 and a 200 day moving average of $7.80.

Glencore Dividend Announcement

The business also recently disclosed a dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 1st were given a dividend of $0.085 per share. The ex-dividend date was Friday, August 29th. This represents a dividend yield of 210.0%.

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.

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