Glencore plc (OTCMKTS:GLNCY) Sees Large Drop in Short Interest

Glencore plc (OTCMKTS:GLNCY - Get Free Report) was the recipient of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 175,600 shares, a decline of 44.5% from the February 13th total of 316,300 shares. Approximately 0.0% of the company's shares are sold short. Based on an average daily trading volume, of 2,808,300 shares, the days-to-cover ratio is presently 0.1 days.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GLNCY shares. Berenberg Bank upgraded Glencore to a "strong-buy" rating in a report on Tuesday, March 11th. BMO Capital Markets upgraded Glencore from a "hold" rating to a "strong-buy" rating in a report on Monday, December 16th. Six investment analysts have rated the stock with a strong buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Strong Buy".

Glencore Price Performance

GLNCY traded up $0.27 on Friday, hitting $8.32. 617,159 shares of the company were exchanged, compared to its average volume of 979,210. Glencore has a twelve month low of $7.84 and a twelve month high of $12.74. The company has a current ratio of 1.30, a quick ratio of 0.67 and a debt-to-equity ratio of 0.69. The firm has a 50-day moving average price of $8.60 and a two-hundred day moving average price of $9.51.

About Glencore

Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania. It operates through two segments: Marketing Activities and Industrial Activities. The company engages in production and marketing copper, cobalt, lead, nickel, zinc, chrome ore, ferrochrome, vanadium, aluminum, alumina, and iron ore; and coal, crude oil, refined products, and natural gas, as well as oil exploration/production and refining/distribution.