Short Interest in Glencore PLC (OTCMKTS:GLNCY) Decreases By 61.9%

Glencore PLC (OTCMKTS:GLNCY) was the target of a significant decline in short interest in the month of May. As of May 15th, there was short interest totaling 450,928 shares, a decline of 61.9% from the April 30th total of 1,184,810 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 1,202,853 shares, the days-to-cover ratio is currently 0.4 days.

Glencore Stock Performance

Shares of GLNCY stock traded up $0.55 during trading hours on Monday, hitting $15.71. 248,964 shares of the company’s stock were exchanged, compared to its average volume of 844,705. The stock’s 50-day moving average is $15.03 and its 200-day moving average is $13.04. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.06 and a quick ratio of 0.54. Glencore has a 52 week low of $7.40 and a 52 week high of $16.04.

Wall Street Analyst Weigh In

A number of brokerages have commented on GLNCY. HSBC upgraded shares of Glencore from a “hold” rating to a “buy” rating in a research note on Tuesday, April 14th. Citigroup reissued a “buy” rating on shares of Glencore in a report on Monday, April 13th. Barclays reiterated an “overweight” rating on shares of Glencore in a research report on Wednesday, February 25th. UBS Group upgraded Glencore to a “hold” rating in a research note on Monday, February 9th. Finally, Zacks Research raised Glencore from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. 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 presently has a consensus rating of “Moderate Buy” and a consensus target price 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.