Glencore Share Discussion Threads

[losses] 03/12/2016 07:40

Glencore PLC?s (LON:GLEN) upbeat trading statement yesterday has prompted UBS to reiterate a ?buy? stance on the mining and metal trading titan. Ivan Glasenberg, chief executive, announced that it was close to completing its debt reduction programme and would now resume dividends with a US$1bn payout. From debts of US$30bn a little over a year ago, Glasenberg said it would finish this year with net debt of between US$16.5bn?US$17.5bn. UBS said it was a reassuring statement and still reckons the valuation is compelling even though the shares are up 200% this year. Glencore ?offers leverage to commodities which have the most attractive fundamentals (Copper, Zinc, Nickel), and it will deliver material volume growth from latent capacity.? Free cash flow of US$6.5bn underpins the dividend promise, while production, cost & capex guidance was in line with estimates. Zinc production will not restart until the market needs the volume.

[losses] 02/12/2016 15:57

Nice trade again from this mornings low... will leave it to run

[arja] 02/12/2016 08:58

market has the friday blues today as it did in OZ last night ! But dow still holding up awaiting the payroll dfigures .

[togglebrush] 01/12/2016 11:22

By my Calc; Restored dividend for 2017 based on RNS today
'
Annual _1,000,000,000 in US Dollars
Shares 14,394,740,000
'
Dividend per share in US dollars ___0.0695
or
5.5 pence at current exchange rate or just under 2% on today's share prices
'
BUT there is the possible option of an extra $1 billion on dividend

[arja] 01/12/2016 10:14

never say that in markets heliwell. I have learnt that to my cost in the past but I think it probably will.

[heliweli] 01/12/2016 09:54

Bound to recover.

[arja] 01/12/2016 09:27

fallen further and KAZ is now in negative territory - markets often fool us or we would all be millionaires !

[losses] 01/12/2016 08:30

Should get a rise today towards 300 when USA opens... I think fundies will jump in now for the divi

[arja] 01/12/2016 08:25

GLEN and most miners rocketed at opening but now the inevitable pullback .

[losses] 01/12/2016 08:02

Hopefully 300+ on the cards today... divi starting in 2017 first and second half

[losses] 01/12/2016 07:28

Glencore Plans USD1B Return To Shareholders In 2017Source: Alliance NewsMulti-commodities miner and trading house Glencore PLC on Thursday said its debt reduction plan remains on track and earnings for its Marketing...

[saltaire111] 01/12/2016 07:11

I particularly like the following from this morning's statement:

2016 Marketing EBIT expected towards the upper end of the recently tightened guidance range ($2.5 to $2.7 billion) in line with supportive market conditions during the second half

Salty.

[bigbigdave] 01/12/2016 07:10

1 December, 2016



Glencore plc - investor update



Creating sustainable returns for shareholders



Today, Glencore is hosting an investor update call at 1.00pm (GMT). Presentation slides will be available from 12:00pm (UK). Highlights include:

Debt reduction plan nearing completion and capital structure repositioned

· On track for $16.5-$17.5 billion Net debt by end 2016

· Divestment processes successfully completed at $6.3 billion versus original guidance of
$1-2 billion

· Success of deleveraging programme recognised by the credit markets with spreads and CDS trending towards normalised levels

· Targeting maximum 2x Net debt/EBITDA through the cycle

Strong free cash flow generation, reinforced at current prices

· Even at Q1 2016 commodity price lows, annualised free cash flow generation was healthy, underpinned by the resilience of Marketing cash flows and quality/diversification of Industrial assets

· 2017 illustrative free cash flow of c.$6.5 billion from EBITDA of c.$14.0 billion at Calendar 2017 prices



2016 Marketing EBIT expected towards the upper end of the recently tightened guidance range ($2.5 to $2.7 billion) in line with supportive market conditions during the second half of 2016

Sustainable distribution policy / capital allocation framework seeking to maximise value creation for shareholders

· 2017 distribution of $1 billion, to be paid in equal tranches in the first and second half

· New distribution policy to take effect from 2018 comprising:

o a fixed $1 billion base distribution, reflecting the resilience, predictability and stability of Marketing cash flows; plus

o a variable distribution representing a minimum payout of 25% of Industrial free cash flow

The right commodity mix to supply the changing needs of maturing economies

· Leading large-scale low-cost supply positions in mid and late cycle commodities such as copper, cobalt, nickel, zinc and thermal coal, all of which possess favourable long-term supply and demand fundamentals

· Significant operational leverage to improving fundamentals in our key commodities with substantial volumes of low-cost latent capacity that can restart when we believe conditions are right

2016 has been a challenging year that proved Glencore's ability to quickly adjust to tough conditions, emerging stronger and well positioned for the future

Ivan Glasenberg, CEO, commented:

"Last year we announced a programme of measures to reduce our debt and structurally increase the flexibility and strength of our balance sheet. We have delivered on our commitments and done so in a way that has preserved the long-term earnings capability of the Group. Glencore can look forward to the future with confidence, based on our scalable and low cost industrial operations and robust marketing business."

[losses] 30/11/2016 15:20

The closely watched OPEC meeting in Vienna has now concluded for the delegates to have lunch and a statement is expected later this afternoon. A press conference is scheduled for 4 p.m. local time (10 a.m. Eastern/3 p.m. London) and can be watched live here. The group has reportedly agreed to cut daily production to 32.5 million barrels, with Saudi Arabia taking a "big hit" and Iran allowed to ramp up production to presanction levels.

[prewar] 30/11/2016 14:11

OPEC oil cuts being agreed will have triggered turnaround

[arja] 30/11/2016 14:03

it really did but then copper price started to pick uo and also dow futures - this
possibly triggered the turnaround .

[foxy22] 30/11/2016 13:36

Yes same for me could have done a good day trade in hindsight...but it did look pretty grim am arja

[arja] 30/11/2016 13:28

kicking myself I had to go out just when GLEN was about to take off and it remains a good trading stock . well done to those who made a nice profit

[losses] 30/11/2016 13:21

Same here traded this earlier and it's still going back up... happy either way LONG position looking good

[foxy22] 30/11/2016 13:21

Arja and others...look at Bloomberg article on glen published yesterday....glencore investor day tomorrow...may reinstate div...glassenberg to thank those who supported him thro. Difficult times!!

[foxy22] 30/11/2016 13:18

Russell aal for me is a bit like a love-hate relationship...took one look early this morning...went out and resolved to sell Pm...come back and it's recovered... share price a bit schizophrenic

[losses] 30/11/2016 12:34

Bought at 271 ish to trade today sold trade just now just in case bad news from OPECStill holding loads as main position LONG

[arja] 30/11/2016 10:47

brightontrader - I think most shares are just for trading especailly if have a fairly wide day trading range . Might be a few shares which trend up for many years and
good for accumulating slowly - but even then a dow crash might mean a loss .

[brightontrader] 30/11/2016 08:28

This share is a nightmare, but have to look on the bright side, lost £75K last year, got it all back this fin year plus a little, so getting a CGT holiday this year and will pay back next year, but must stop looking at glen, presently out, but looking for that buyback moment as think will go £3+ but with trump who bloody knows!

I had a business that imported from china up until 2 years ago, the factory I bought from has since moved to Cambodia, its expensive to manufacture in China now, comparatively, china will depend on its own internal market increasingly, buoyed by property prices, when these depress watch out, its already beginning, have a mate in Shenzen with a apartment that has just dropped in value 30%...(he is still 300% up so no tears there though)