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

Glencore plc (OTCMKTS:GLNCY) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 788,500 shares, an increase of 323.0% from the September 30th total of 186,400 shares. Based on an average daily volume of 874,900 shares, the days-to-cover ratio is presently 0.9 days.

Glencore Trading Up 0.8 %

GLNCY stock traded up $0.08 during midday trading on Friday, reaching $10.40. 516,057 shares of the company’s stock traded hands, compared to its average volume of 509,158. Glencore has a 52 week low of $9.26 and a 52 week high of $12.74. The company has a 50-day moving average price of $10.53 and a two-hundred day moving average price of $11.24.

Glencore Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were given a $0.1105 dividend. The ex-dividend date was Friday, August 30th.

Analyst Ratings Changes

A number of analysts recently commented on the company. The Goldman Sachs Group raised Glencore to a “strong-buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada upgraded Glencore to a “moderate buy” rating in a research note on Thursday, August 8th. Citigroup raised Glencore to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Barclays raised shares of Glencore to a “strong-buy” rating in a report on Wednesday, October 16th.

Glencore Company Profile

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.