Glencore Share Discussion Threads

[sr2day] 24/8/2016 13:56

yes compelling short, first target of 179 breached today,next target 160p.

[tsmith2] 24/8/2016 11:04

Compelling short - lol

[russell250] 24/8/2016 10:54

webcast was very positive this morning - I just added more at 179

[younasm] 24/8/2016 10:07

I have started to buy at 181p -- will buy more over next 2-3 months once the price stabilises / stops falling.

[sr2day] 24/8/2016 09:59

more downside risks in my view.still a compelling short.

[ukgeorge] 24/8/2016 09:18

 Glencore 1H largely on target. EBITDA of US$4,020m (Investec US$4.1bn/ Consensus US$3.9bn) leading to underlying EPS of 2cps (Inv3.6x/cons 2.2cps) down 71% YoY. Non-recurring items took US$669m off earnings leading to a 3cps loss. Marketing EBIT guidance of US$2.4-2.7bn is retained, having delivered US$1.2bn in H1, up 14% YoY, but elsewhere mixed performance. Net debt stands at US$23.58bn (Inv US$24.8bn) with net debt:EBITDA at 2.91X. Source: Company


Investec view: At first pass a reasonable result although consensus numbers suggest that some of the market will have expected better. No major positives or negatives with the company lifting debt reduction target slightly. The company remains heavily geared but expects to receive cash from transactions in H2, accelerating deleveraging and is targeting US$16.5-17.5bn by y/e, down US$500k from previous target. Presentation at 8am should provide more insight.



 Glencore sells down part of Ernest Henry. Glencore is to receive A$880m from Evolution Mining (EVO AU) to deliver gold, copper and silver from GLEN's Earnest Henry Mine's output. EVO will pay cash contributions equal to 30% of production and capital costs associated with copper concentrates, and receive 30% of gold and silver payable and 100% of gold production. In effect Glen is selling a 30% stake and a gold stream. The mine currently produces 60ktpa Cu and 80kozpa Au and has a mine life to 2027. Source: Company

[bigbigdave] 24/8/2016 07:10

"Delivering on our debt reduction plan, underpinned by industry-leading cost performance and robust operating cash flows"

[losses] 23/8/2016 19:02

Hope so fully loaded here

[heliweli] 23/8/2016 17:23

Hopefully good results tomorrow.

[younasm] 22/8/2016 21:58

Sr2day post 16th Aug -- pretty good.I have partially closed new short positions @ 183p. I have plenty of long and short positions -- will cash in the winning side on wed 24th Aug -- I can't see these going over 200p anytime soon. On the downside, 150p should be solid support, that's up from 125p for the last 6-months.

[anley] 22/8/2016 14:46

David Herro trims holding in Glencore to about 6% from 8.5%

That is why the shares have gone down...........that's a lot of shares for the MM to digest...............

[russell250] 22/8/2016 14:08

all eyes on fed - glencore in good shape but dollar impacting all miners / gold / oil - another disposal would be good - ofset concerns of Glasanberg on buying spree

[sr2day] 22/8/2016 13:44

nobody can dictate to the market.lesson not to be forgotten.take your profits and run.

[woody888] 22/8/2016 11:56

yes Swerves very poor and somewhat embarrassing - I was expecting positive momentum up to Wednesdays interims based on my perception that commodities have bottomed, GLEN debt reduction is ahead of target and my view was compounded by the aftermarket activity post Friday close.

[alamaison] 22/8/2016 11:51

As I was losing patience with LEK I have send them an email.
See , bellow, the reply received this morning:

Hi,
The most recent release indicated Q3 for commercial production and first cargoes. This timeline is still intact.
We are making good progress on the ministerial consent front.
Photos may be available on the site after the start of commercial production.
Best Regards,
Lekoil

[swerves1] 22/8/2016 11:34

Poor prediction!

[woody888] 21/8/2016 22:14

195+ tomorrow

[tsmith2] 21/8/2016 21:30

With a credible plan to cut net debt to $17-18 billion by the end of 2016, investment bank UBS is confident in Glencore's (GLEN) management and have a 'buy' rating on the stock.Disposals of GRail for around $1 billion and its Vasilkovskoy gold mine for $1.5 billion should go through shortly, which will boost its cash pot from disposals to $5.7 billion. The fundamentals of the zinc and nickel markets have improved, although its exposure to thermal coal could be a sticking point.The miner will report a 6% slip in adjusted cash profit to $3.9 billion, with net clean income plunging by a third to $303 million, forecasts UBS analyst Myles Allsop. Debt reduction will be weighted to the second half, with levels only expected to fall only $1.2 billion.Upgrading its target price to 220p, the shares have double-digit upside from their current 197p price."We have a Buy rating on the stock as we believe management has a credible plan to materially cut net debt by end-17 which should drive a re-rating of the equity," adds Allsop.

[russell250] 20/8/2016 13:09

am still expecting a disposal update by Wednesday -need a good trading update then may see brokers upgrade forecast - roll on Wednesday get some clarity

[tsmith2] 20/8/2016 12:27

Free cash flow is likely to reach $3.6 billion in 2016, although this could jump $0.4 billion if commodity prices stay strong. Olsha pencils in $4.2-4.8 billion of free cash flow thereafter.It's what people aren't focussing on, that's massive cash generation!

[tsmith2] 18/8/2016 09:30

Kaz up 10% and that's a one trick pony..much broader commodities play, zinc, nickel, oil, copper..

[tsmith2] 18/8/2016 08:04

Into nickel into a big way

[bigbigdave] 18/8/2016 06:56

Top Chinese Nickel Producer Says Bull Market Just Beginning