Glencore plc (OTCMKTS:GLNCY) Short Interest Down 17.6% in November

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. 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 research note on Thursday, August 8th. The Goldman Sachs Group upgraded shares of 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, Hsbc Global Res raised Glencore from a “hold” rating to a “strong-buy” rating in a report on Monday, October 28th. Four analysts have rated the stock with a strong buy rating, Based on data from MarketBeat, Glencore has a consensus rating of “Strong Buy”.

Glencore Stock Performance

Shares of OTCMKTS GLNCY traded down $0.04 during mid-day trading on Monday, hitting $9.57. 1,138,740 shares of the stock were exchanged, 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 stock’s fifty day simple moving average is $10.41 and its two-hundred day simple 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.