Short Interest in Glencore PLC (OTCMKTS:GLNCY) Rises By 271.3%

Glencore PLC (OTCMKTS:GLNCY) was the recipient of a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 1,184,810 shares, a growth of 271.3% from the April 15th total of 319,095 shares. Based on an average daily trading volume, of 3,199,897 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.0% of the company’s shares are short sold.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GLNCY. Barclays restated an “overweight” rating on shares of Glencore in a report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Glencore in a report on Friday, January 30th. UBS Group upgraded Glencore to a “hold” rating in a report on Monday, February 9th. Citigroup restated a “buy” rating on shares of Glencore in a report on Monday, April 13th. Finally, HSBC upgraded Glencore from a “hold” rating to a “buy” rating in a report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $9.30.

Glencore Price Performance

Shares of OTCMKTS GLNCY traded down $0.68 during mid-day trading on Friday, reaching $15.24. 381,051 shares of the company’s stock were exchanged, compared to its average volume of 876,542. The company has a current ratio of 1.06, a quick ratio of 0.54 and a debt-to-equity ratio of 0.84. The business has a fifty day simple moving average of $14.70 and a 200 day simple moving average of $12.58. Glencore has a twelve month low of $6.96 and a twelve month high of $16.04.

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.