Glencore plc (OTCMKTS:GLNCY) Short Interest Up 851.6% in January

Glencore plc (OTCMKTS:GLNCY) was the target of a significant increase in short interest in January. As of January 31st, there was short interest totalling 330,200 shares, an increase of 851.6% from the January 15th total of 34,700 shares. Based on an average daily trading volume, of 2,426,400 shares, the days-to-cover ratio is currently 0.1 days.

Analysts Set New Price Targets

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

Glencore Price Performance

Glencore stock opened at $8.55 on Thursday. The stock’s 50-day moving average is $9.02 and its 200-day moving average is $9.87. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.67 and a current ratio of 1.30. Glencore has a 12 month low of $8.29 and a 12 month high of $12.74.

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.