Glencore PLC (OTCMKTS:GLNCY) Short Interest Down 61.9% in May

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

Glencore Stock Down 1.7%

Glencore stock opened at $15.16 on Friday. The stock has a 50-day moving average of $15.03 and a two-hundred day moving average of $13.02. The company has a current ratio of 1.06, a quick ratio of 0.54 and a debt-to-equity ratio of 0.84. Glencore has a one year low of $7.40 and a one year high of $16.04.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. UBS Group raised Glencore to a “hold” rating in a research report on Monday, February 9th. HSBC raised Glencore from a “hold” rating to a “buy” rating in a research report on Tuesday, April 14th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Glencore in a research report on Wednesday, February 4th. Morgan Stanley reaffirmed an “overweight” rating on shares of Glencore in a research report on Thursday, April 9th. Finally, Zacks Research raised Glencore from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company 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.