Short Interest in Glencore plc (OTCMKTS:GLNCY) Drops By 35.2%

Glencore plc (OTCMKTS:GLNCY) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 64,500 shares, a drop of 35.2% from the December 15th total of 99,500 shares. Based on an average trading volume of 1,867,400 shares, the short-interest ratio is currently 0.0 days.

Glencore Trading Up 1.9 %

OTCMKTS:GLNCY opened at $8.96 on Wednesday. Glencore has a one year low of $8.66 and a one year high of $12.74. The firm’s 50 day simple moving average is $9.34 and its 200 day simple moving average is $10.28.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GLNCY shares. Hsbc Global Res upgraded Glencore from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 28th. Barclays raised shares of Glencore to a “strong-buy” rating in a research note on Wednesday, October 16th. Finally, BMO Capital Markets raised Glencore from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Five investment analysts have rated the stock with a strong buy rating, According to MarketBeat, the company has an average rating of “Strong Buy”.

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.