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GLEN Glencore Plc

462.90
-2.65 (-0.57%)
12 Jun 2024 - Closed
Delayed by 15 minutes
Glencore Investors - GLEN

Glencore Investors - GLEN

Share Name Share Symbol Market Stock Type
Glencore Plc GLEN London Ordinary Share
  Price Change Price Change % Share Price Last Trade
-2.65 -0.57% 462.90 16:35:06
Open Price Low Price High Price Close Price Previous Close
467.90 462.90 469.30 462.90 465.55
more quote information »
Industry Sector
MINING

Top Investor Posts

Top Posts
Posted at 20/5/2024 11:27 by sundial1
Interactive investor I use all are the same HL heavy on the pen
Posted at 16/5/2024 08:28 by tuftymatt
Talk of GLEN picking up some of AAL spin off's if AAL holds off the takeover approach from BHP. That could be the reason behind the small pullback yesterday afternoon.

Thanks to Philanderer for the below:

Anglo American is eyeing the quick sale of its coking coal business as it seeks to convince investors its radical shake-up is working.

The London-listed mining giant, which has turned down two bids from BHP worth £31billion and £34billion, this week unveiled plans to break up the company to fend off takeover interest.

The Mail understands it believes it will strike a deal to sell the coking coal arm for up to £4.75billion, having already received interest.

Glencore is said to be a potential buyer. Bosses hope a rapid sale will convince shareholders they are the right people to take Anglo forward amid interest from BHP.

It also plans to spin off its diamond business De Beers – possibly via a stock market listing in London – and its South African platinum arm.

Daily Mail

Good luck all 👍🏻
Posted at 08/5/2024 10:51 by 84stewart
Gxgxx I couldn’t pick up link but volcano is the Trust for Vedanta ex Aal.owner/investor of which Anil Argawal is the Blnair Indian miner
Posted at 23/4/2024 09:25 by action
It happens to most of the investors
Posted at 13/4/2024 06:28 by gxgxx
Article from Internet

Glencore share price is nearing a golden cross formation
Glencore’s stock has jumped sharply in the past few weeks.
The price of copper has soared to its highest level since 2022.
There are signs that a new supercycle is happening in the commodities market.
Glencore (LON: GLEN) share price continued its strong recovery this week as investors focused on the commodity sector. The stock surged to a high of 477.60p, its highest point since January 2nd. It has risen by more than 30% from its lowest point in 2024.
Copper price is soaring

Mining companies are doing well, helped by the ongoing recovery of commodity prices around the world. As I wrote on Wednesday, Antofagasta has become the best-performing company in the FTSE 100 index this year.

Glencore’s stock is surging because of the ongoing revival of the copper market. Data shows that the price of copper rose to its highest point since June 2022. It has risen by over 24% from its lowest point in 2023 and is a sign that the global economy is bouncing back.

Copper is an important metal in Glencore’s business. It produced over 1 million tons of copper in 2023, generating billions of dollars in revenues and profits. In all, its metals and minerals business had over $35 billion in revenues and an adjusted EBITDA of $5.4 billion.

Glencore is also benefiting from the resurgence coal business. Data shows that the price of coal has jumped to $121, much higher than the year-to-date low of $94. This is notable because Glencore is one of the biggest coal companies in the world.

Coal demand will continue rising even as countries invest more money on renewable energy projects like wind and solar. The main threat for coal is natural gas, which is one of the most popular energy source in some countries.

Glencore is in the process of transitioning from the coal business, a strategy I believe is wrong. It is doing that by spinning off its coal business and combining it with that of Teck Resources.

Meanwhile, Glencore is set to benefit from its marketing operations since it one of the biggest commodity traders in the world. It moves millions of barrels of oil every day, which helped it make over $186 billion in revenues in 2023.

Glencore and other trading companies like Vitol, Trafigura, and Mercuria have been swimming in cash in the past few years. According to FT, trading profits jumped to over $104 billion in 2023.

Therefore, as we saw with General Electric, there is a possibility that Glencore’s stock will do well ahead of its spin-off. GE shares jumped sharply ahead of its energy business spin-off this year.
The daily chart shows that the Glencore stock price has been in a strong bullish trend in the past few weeks. It has moved back to the rising wedge pattern that formed in 2023.

The stock is now about to form a golden cross pattern, which happens when the 200-day and 50-day Exponential Moving Averages (EMA) cross each other.

Also, the Relative Strength Index (RSI) shows that there is a bullish momentum going on. Therefore, the outlook for the stock is bullish, with the initial target being at 500p.
Posted at 22/3/2024 09:33 by tuftymatt
Yeah the UK is finally catching global investors attention once again.

Interest rates will come off in all major central banks this year so undervalued dividend payers are looking attractive right now.

OK GLEN has seen a big divi hit but my gut feel is that could change.

Good luck all 👍🏻
Posted at 29/1/2024 13:58 by petersinthemarket
Still don't understand how such a low yield can be justified, but FWIW I did find this:

9 December, 2023: MotleyFool 2024 Forecast: ''Finally, we have Glencore, which is currently forecast to pay out 23.3 cents per share for 2024. That equates to a yield of about 4.1% at today’s share price and exchange rate – the lowest of the three commodity companies. [BHP, GLEN, RIO] Earnings are expected to come in at 50 cents, giving a dividend coverage ratio of about two, which is healthy. Now, one thing to understand about Glencore is that it’s both a miner and a commodity trader. So there’s an extra layer of risk here. Not only do investors face traditional mining risks (eg lower commodity prices, operational setbacks, etc) but they also face trading risk. If the company was to rack up a stack of losses from trading, investors could lose out.''

I hold for yield and expect a more acceptable outcome.
Posted at 27/12/2023 19:01 by pj84
The following are some snippets from the Telegraph article: -

"... London-listed shares remain tragically unloved by investors.

Given that around 82pc of revenues generated by FTSE 100 firms are from outside this country, there is an underlying idiosyncrasy in the recent relative underperformance of large British stocks.

Many investors will be wondering whether 2024 will be the year when this most undesirable situation finally abates.

While Questor is wary of short-term forecasts, logic suggests that it is only a matter of time before investors realise that they can buy high-quality global stocks at bargain prices within the FTSE 100.”

"... it still trades at just 11 times forecast earnings.

This suggests a wide margin of safety as the outlook for the world economy improves.
Although interest rate cuts have yet to arrive in Britain, Europe or America, they are very much on the near-term horizon. In fact, it would be a huge surprise if interest rates in all three areas were at or above their current levels by the end of 2024.”

...

“Based on last year’s dividend, the shares currently yield 7.4pc in a further sign that they are significantly undervalued.”

...

“Given the company’s wide margin of safety and long-term growth prospects, though, it continues to offer capital growth potential in what remains a highly enticing FTSE 100 index for long-term investors.”
Posted at 01/9/2023 07:29 by multibagger
Times article this morning on Glencore

Almost 200 funds including Fidelity, Abrdn and HSBC have joined lawsuits against Glencore, accusing the commodities group of inflicting losses on investors by allegedly lying to cover up corruption.

The claims by shareholders, whose holdings in the FTSE 100 mining and trading group total more than £3.7 billion, were filed in the High Court last year after Glencore admitted a string of bribery offences, but the particulars of the allegations and names of participating investors have only just become available.

New filings lodged this summer detailing the claims allege that the investors “suffered loss” because of “untrue statements” and omissions from Glencore’s stock market prospectuses for its 2011 listing and its 2013 merger with Xstrata, the Financial Times reported. It said the claims related to Glencore’s alleged “failure to disclose that bribery, corruption and fraud was prevalent in the business activities of key operating subsidiaries”.

Those suing Glencore also include Royal London, Vanguard and Invesco, the investment groups. There are claims from the Kuwait Investment Authority and Norges Bank, the central bank of Norway, and from pension funds including those of British Airways, BP, Shell and Greater Manchester.

Glencore declined to comment and has yet to file its defence to the claims.
The company is based in Switzerland but is listed in London and has a market capitalisation of about £52 billion. As well as mining coal, copper and cobalt, it is one of the world’s biggest commodities traders and reported record net profits of $17.3 billion in 2022.

Glencore disclosed in 2018 that it was under scrutiny from authorities in the United States over compliance with corruption laws. The investigation, which expanded to encompass several jurisdictions, was seen as a significant overhang on its share price for several years. In February last year Glencore’s shares rallied as it set aside $1.5 billion to settle investigations in America, Britain and Brazil, subsequently admitting bribery offences around the world.

American prosecutors said bribery was “built into the corporate culture” at Glencore and that the group had paid more than $100 million in bribes in South America and Africa through a “decade-long scheme to bribe foreign officials in seven different countries”. Glencore also admitted manipulating prices at two of America’s biggest fuel oil markets over eight years. Last November it settled corruption claims in the Democratic Republic of Congo.

Despite the corruption fines, investors appeared relieved at the certainty over the scale of the penalties and the conclusion of the cases.

The claims in the High Court case are said to centre on bribery schemes in Glencore’s oil trading business and the fuel price manipulation in America, both of which it pleaded guilty to last year, as well as alleged bribery in the Democratic Republic of Congo.

Glencore shares fell 17¼p, or 3.9 per cent, to 421½p yesterday as the stock traded ex-dividend.
Posted at 19/8/2022 09:12 by uncertain times
An ABC News article explaining why share prices usually fall on ex-dividend date...Q: What is the good of dividends? The prices of my stocks usually fall by the amount of the dividend after they are paid out.A: The day investors get a dividend should be a happy one. Who would not like to get a cash payment?But the smile on dividend day can often fade away after taking a closer look at the stock price. It is pretty typical for the current stock price to fall on the day that dividends are locked in.Specifically, on the day that companies cut off which investors get the dividend, the stock price can fall by the amount of the dividend being paid. This day is called the ex dividend date, and after that day, investors who buy the stock are not entitled to the dividend. If you are a dividend investor, you owe it to yourself to understand several key days when it comes to these important cash payouts:The reason the stock falls when a stock goes ex dividend is simple. When a dividend is paid, a portion of the value of the company is being transferred from the bank account of the company to the accounts of investors. That draw down in value is to be expected because paying a dividend reduces the value of the assets of a company. The ex dividend date is such a powerful force that it is usually noted in the printed stock price tables in the back of most newspapers.Some investors might feel slighted when a stock falls on ex dividend date, but they should not. The stock price is merely adjusting the fact that some of the value of a company has been transferred directly to shareholders. The value of investors total ownership, the value of the stock plus the value of the dividend, is unchanged.But be careful. While a stock certainly will have a tendency to fall the day stocks go ex dividend, it is not a guarantee. Some investors try to speculate on this phenomenon by betting against a stock on the ex dividend date.Remember, though, that many factors influence the short term value of a stock other than the dividend schedule. If a stock goes ex dividend on a day that the market is up sharply, for instance, the upward bias of the market can erase the downward pressure from the payment of the dividend.

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