Glencore PLC (OTCMKTS:GLNCY) Sees Large Decrease in Short Interest

Glencore PLC (OTCMKTS:GLNCY) was the recipient of a significant drop in short interest in the month of March. As of March 31st, there was short interest totaling 437,659 shares, a drop of 18.0% from the March 15th total of 533,844 shares. Based on an average daily trading volume, of 2,232,911 shares, the short-interest ratio is currently 0.2 days. Approximately 0.0% of the shares of the company are sold short.

Glencore Stock Down 1.6%

Shares of GLNCY opened at $15.05 on Thursday. 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 one year low of $6.31 and a one year high of $15.44. The stock’s fifty day moving average is $14.13 and its 200-day moving average is $11.77.

Analyst Ratings Changes

Several brokerages have weighed in on GLNCY. Citigroup reaffirmed a “buy” rating on shares of Glencore in a research report on Monday. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Glencore in a research report on Wednesday, February 4th. Berenberg Bank raised Glencore from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Glencore in a research report on Friday, January 30th. Finally, HSBC raised Glencore from a “hold” rating to a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.