Glencore plc (OTCMKTS:GLCNF) Sees Significant Decrease in Short Interest

Glencore plc (OTCMKTS:GLCNF) saw a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 373,733 shares, a drop of 62.5% from the February 26th total of 997,320 shares. Based on an average daily trading volume, of 99,656 shares, the days-to-cover ratio is presently 3.8 days.

Glencore Stock Down 0.7%

Shares of GLCNF traded down $0.05 during mid-day trading on Friday, reaching $7.11. The company had a trading volume of 97,314 shares, compared to its average volume of 166,945. Glencore has a 52-week low of $2.88 and a 52-week high of $7.35. The stock has a 50 day moving average of $6.88 and a two-hundred day moving average of $5.57.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank set a $12.90 price target on Glencore in a research report on Wednesday, December 17th.

Glencore Company Profile

Glencore plc is a global leader in the production, marketing and trading of commodities. Through its diversified portfolio, the company operates in two principal segments: Metals & Minerals, and Energy Products. In Metals & Minerals, Glencore produces and trades a wide array of industrial metals, including copper, zinc, nickel, cobalt, lead, aluminum, iron ore and coal. Its Energy Products segment encompasses the sourcing, storage and distribution of crude oil, refined products, natural gas and liquefied petroleum gas, while also managing a significant agricultural trading business that handles grains, oilseeds and sugar.

Founded in 1974 by Marc Rich as Marc Rich + Co International, the company rebranded to Glencore in 1994 and has since expanded through both organic growth and strategic acquisitions.