Glencore plc (OTCMKTS:GLCNF – Get Rating) was the target of a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 2,896,300 shares, an increase of 28.8% from the July 31st total of 2,249,200 shares. Based on an average daily trading volume, of 59,000 shares, the short-interest ratio is presently 49.1 days.
Wall Street Analysts Forecast Growth
Separately, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $580.00 price objective on shares of Glencore in a research report on Thursday, May 26th.
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Glencore Stock Performance
GLCNF stock traded down $0.10 during mid-day trading on Tuesday, hitting $5.80. The stock had a trading volume of 5,817 shares, compared to its average volume of 58,997. Glencore has a 1-year low of $4.22 and a 1-year high of $7.00. The company has a fifty day moving average of $5.45 and a 200 day moving average of $5.98.
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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