Short Interest in Glencore plc (OTCMKTS:GLNCY) Drops By 17.6%

Glencore plc (OTCMKTS:GLNCY) was the recipient of a significant decline in short interest in November. As of November 15th, there was short interest totalling 164,300 shares, a decline of 17.6% from the October 31st total of 199,500 shares. Based on an average trading volume of 1,481,500 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GLNCY shares. Royal Bank of Canada upgraded shares of Glencore to a “moderate buy” rating in a report on Thursday, August 8th. Hsbc Global Res upgraded shares of Glencore from a “hold” rating to a “strong-buy” rating in a report on Monday, October 28th. Citigroup upgraded Glencore to a “strong-buy” rating in a research report on Thursday, August 8th. Barclays upgraded Glencore to a “strong-buy” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group upgraded Glencore to a “strong-buy” rating in a research report on Thursday, August 8th. Four research analysts have rated the stock with a strong buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Strong Buy”.

Glencore Stock Down 0.4 %

OTCMKTS GLNCY traded down $0.04 during mid-day trading on Monday, hitting $9.57. The stock had a trading volume of 1,138,740 shares, compared to its average volume of 617,708. Glencore has a twelve month low of $9.26 and a twelve month high of $12.74. The firm’s 50 day moving average is $10.41 and its 200 day moving average is $10.92.

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.