Glencore plc (OTCMKTS:GLNCY – Get Rating) saw a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 231,300 shares, a growth of 149.0% from the July 31st total of 92,900 shares. Based on an average trading volume of 1,363,400 shares, the short-interest ratio is presently 0.2 days.
Glencore Trading Down 2.9 %
OTCMKTS:GLNCY traded down $0.35 during mid-day trading on Friday, hitting $11.65. The company's stock had a trading volume of 323,868 shares, compared to its average volume of 604,277. Glencore has a fifty-two week low of $8.43 and a fifty-two week high of $14.00. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.59 and a current ratio of 1.17. The stock has a fifty day moving average of $10.86 and a 200-day moving average of $11.94.
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Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the stock. Credit Suisse Group upgraded shares of Glencore from a "neutral" rating to an "outperform" rating in a report on Wednesday, July 6th. JPMorgan Chase & Co. increased their target price on shares of Glencore from GBX 630 ($7.61) to GBX 640 ($7.73) in a research note on Tuesday, July 5th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Glencore from GBX 580 ($7.01) to GBX 560 ($6.77) in a research note on Wednesday, June 29th. Barclays increased their target price on shares of Glencore from GBX 730 ($8.82) to GBX 770 ($9.30) in a research note on Wednesday, May 25th. Finally, Morgan Stanley reduced their target price on shares of Glencore from GBX 740 ($8.94) to GBX 730 ($8.82) in a research note on Tuesday, August 2nd. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $660.00.
About Glencore
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Glencore plc produces, refines, processes, stores, transports, and markets 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 produces and markets copper, cobalt, nickel, zinc, lead, chrome ore, ferrochrome, vanadium, alumina, aluminum, tin, and iron ore.
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