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

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GLNCY shares. Barclays raised Glencore to a “strong-buy” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group raised Glencore to a “strong-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. Finally, Royal Bank of Canada upgraded Glencore to a “moderate buy” rating in a research report on Thursday, August 8th.

Glencore Stock Up 0.8 %

Shares of OTCMKTS:GLNCY traded up $0.08 during trading hours on Friday, hitting $10.40. 516,057 shares of the company’s stock traded hands, compared to its average volume of 509,158. Glencore has a 1 year low of $9.26 and a 1 year high of $12.74. The business has a fifty day moving average price of $10.53 and a 200-day moving average price of $11.23.

Glencore Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a dividend of $0.1105 per share. The ex-dividend date was Friday, August 30th.

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.