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

Posted by Xavier Holt on Oct 26th, 2024

Glencore plc (OTCMKTS:GLNCY – Get Free Report) was the recipient of a significant growth in short interest in 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 daily volume of 874,900 shares, the short-interest ratio is presently 0.9 days.

Analysts Set New Price Targets

A number of research firms recently issued reports on GLNCY. Royal Bank of Canada upgraded shares of Glencore to a “moderate buy” rating in a report on Thursday, August 8th. Citigroup raised shares of Glencore to a “strong-buy” rating in a research report on Thursday, August 8th. The Goldman Sachs Group raised shares of Glencore to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Barclays raised shares of Glencore to a “strong-buy” rating in a report on Wednesday, October 16th.

Get Our Latest Stock Analysis on Glencore

Glencore Stock Performance

Glencore stock traded up $0.08 during mid-day trading on Friday, hitting $10.40. 516,057 shares of the company were exchanged, 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 of $10.53 and a 200 day moving average of $11.24.

Glencore Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were given a $0.1105 dividend. The ex-dividend date was Friday, August 30th.

Glencore Company Profile

(Get Free Report)

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.