Glencore plc (OTCMKTS:GLNCY – Get Rating) saw a large drop in short interest in May. As of May 15th, there was short interest totalling 42,400 shares, a drop of 88.8% from the April 30th total of 377,800 shares. Based on an average trading volume of 991,600 shares, the days-to-cover ratio is currently 0.0 days.
A number of analysts have recently commented on GLNCY shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Glencore from GBX 590 ($7.42) to GBX 580 ($7.30) in a research report on Thursday, May 12th. Morgan Stanley cut their price target on shares of Glencore from GBX 623 ($7.84) to GBX 620 ($7.80) in a research report on Tuesday, May 3rd. JPMorgan Chase & Co. decreased their price objective on Glencore from 13,200.00 to 12,800.00 in a report on Wednesday. HSBC began coverage on Glencore in a report on Friday, March 18th. They set a “buy” rating on the stock. Finally, Barclays raised their price target on Glencore from GBX 730 ($9.19) to GBX 770 ($9.69) in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $2,563.83.
OTCMKTS GLNCY traded down $0.06 during trading on Wednesday, reaching $13.15. 568,217 shares of the company’s stock were exchanged, compared to its average volume of 532,317. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.17 and a quick ratio of 0.59. The business has a 50 day moving average price of $12.70 and a 200-day moving average price of $11.37. Glencore has a fifty-two week low of $7.91 and a fifty-two week high of $14.00.
The firm also recently announced a dividend, which will be paid on Monday, June 6th. Stockholders of record on Friday, April 22nd will be paid a dividend of $0.221 per share. The ex-dividend date is Thursday, April 21st. This represents a dividend yield of 2.88%.
About Glencore (Get Rating)
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.
www.ferroalloynet.com
