Short Interest in Glencore PLC (OTCMKTS:GLNCY) Grows By 66.4%

Glencore PLC (OTCMKTS:GLNCY) was the target of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 714,376 shares, a growth of 66.4% from the June 30th total of 429,288 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 1,883,868 shares, the days-to-cover ratio is currently 0.4 days.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GLNCY. Freedom Capital downgraded shares of Glencore from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Glencore in a research note on Thursday, July 2nd. HSBC upgraded shares of Glencore from a “hold” rating to a “buy” rating in a report on Tuesday, April 14th. Zacks Research downgraded shares of Glencore from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 9th. Finally, The Goldman Sachs Group upgraded shares of Glencore from a “hold” rating to a “buy” rating in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $9.30.

Glencore Stock Performance

Shares of Glencore stock traded up $0.08 during trading hours on Friday, hitting $14.64. The company’s stock had a trading volume of 450,632 shares, compared to its average volume of 813,848. The business has a fifty day moving average of $14.57 and a 200 day moving average of $14.37. Glencore has a 1-year low of $7.44 and a 1-year high of $16.62. 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 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.