Glencore plc (OTCMKTS:GLNCY – Get Rating) was the recipient of a significant growth in short interest in April. As of April 30th, there was short interest totalling 377,800 shares, a growth of 92.5% from the April 15th total of 196,300 shares. Based on an average trading volume of 1,466,600 shares, the days-to-cover ratio is currently 0.3 days.
OTCMKTS:GLNCY traded up $0.27 on Friday, hitting $11.24. The stock had a trading volume of 462,367 shares, compared to its average volume of 603,717. The company has a current ratio of 1.17, a quick ratio of 0.59 and a debt-to-equity ratio of 0.75. The business’s 50-day simple moving average is $12.72 and its two-hundred day simple moving average is $11.24. Glencore has a 52-week low of $7.91 and a 52-week high of $14.00.
The company also recently announced a dividend, which will be paid on Monday, June 6th. Shareholders of record on Friday, April 22nd will be given a $0.221 dividend. The ex-dividend date is Thursday, April 21st. This represents a yield of 2.88%.
Several equities analysts have recently weighed in on the company. Morgan Stanley reduced their price target on Glencore from GBX 623 ($7.68) to GBX 620 ($7.64) in a report on Tuesday, May 3rd. Jefferies Financial Group increased their price objective on Glencore from GBX 550 ($6.78) to GBX 600 ($7.40) in a research report on Wednesday, March 9th. Deutsche Bank Aktiengesellschaft dropped their price objective on Glencore from GBX 590 ($7.27) to GBX 580 ($7.15) in a research report on Thursday. HSBC assumed coverage on Glencore in a research report on Friday, March 18th. They set a “buy” rating on the stock. Finally, BMO Capital Markets raised Glencore from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 22nd. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $2,302.60.
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.
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