Glencore Share Discussion Threads

[purplepanther] 25/10/2018 04:07

From Freeport McMoran ... and really quite supportive for the copper price ...Bloomberg reports Freeport CEO Richard Adkerson told analysts on the miner's third-quarter earnings conference call on Wednesday the gloomy outlook and uncertainty is prompting the Phoenix-based company to slow plans for large scale expansion projects despite predictions of a market deficit.Reduced spending on projects will add to the impending supply gap in copper markets, Adkerson said, adding that the company view remains unchanged and long-term fundamentals for the bellwether metal are increasingly strong:"It is a paradox right now: physical markets are tight, fundamental drivers remain very positive and yet sentiment about the commodity and about companies like ours in the investor marketplace is what it is.Speculators are bearish about copper "due to macro-drivers, and this is having a significant impact on price."

[dremel] 24/10/2018 21:32

There might well be a major rally coming, but its doubtful if Glen will be involved in it, long term holders will know what I mean ? .

[bedruthan] 24/10/2018 19:04

I Agree, according to Kitco inventories of copper,zinc and nickel are declining and prices including coal are on the way up. When the stock markets settle there will be a major rally.

Trading statement on Friday.

[waldron] 24/10/2018 16:48

Rio Tinto
3,599 -0.81%


BHP Billiton
1,493 -1.85%


Anglo American
1,609.4 -0.78%

Glencore
297.45 -0.77%


Gold COMEX 1,231.90 -0.11%
Silver COMEX 14.73 -0.20%
Copper COMEX 2.76 -0.18%
Brent Crude Oil NYMEX 77.04 +1.18%
Gasoline NYMEX 1.85 +1.10%
Natural Gas NYMEX 3.20 -0.62%


the global retreat has sent glen back into the 280 to 310p BOX

[redtom1] 24/10/2018 16:32

Thanks PP. You obviously know a lot more than I do about this sort of stuff. Thanks for posting, useful.

[purplepanther] 24/10/2018 15:48

Well the implications are that copper demand is pretty robust as one can also see from Chinese copper anode prices. Sooner or later that will reflect itself in better pricing esp if any constructive indications come through on US-China which would obviously attract speculative interest back to the metal.But regardless Glencore looking pretty good with it's $17.7bn EBITDA guidance based on rather lower metal prices than currently prevailing

[redtom1] 24/10/2018 15:19

Hi Purple Panther, please can you explain further as I don't understand the implications? Thanks

[purplepanther] 24/10/2018 13:24

Gotta go back to April 2016 to see LME copper inventories at these levels

[grupo] 23/10/2018 19:21

Lets go with the 26th oct for starters it being a friday


lol


and then pencil in the following friday if nothing happens

[redtom1] 23/10/2018 19:10

26 October 2018 according to the Glencore website. They seem to have two dates on different parts of the website. A bit poor that.

[waldron] 23/10/2018 16:55

2 November 2018 Glencore Third Quarter Production Report

[waldron] 23/10/2018 16:49

Rio Tinto
3,643.5 -1.53%


BHP Billiton
1,525.4 -1.61%


Anglo American
1,622.6 -2.44%


Glencore
301.3 -3.01%


Gold COMEX 1,236.70 +0.96%
Silver COMEX 14.80 +1.47%
Copper COMEX 2.76 -0.79%
Brent Crude Oil NYMEX 77.04 -3.81%


wow, the global retreat has sent glen back into the 280 to 310p BOX

YET TO BE CONFIRMED BY FRIDAY CLOSE

[a2584728] 23/10/2018 14:30

Ridiculous share price buying opp for all

[foxy22] 23/10/2018 14:14

Laforge that piece is quite concerningAnd seems to forebode further possible pressure on glen share price.The us could be quite relentless in their investigation....and glen might not be completely in the clear!

[la forge] 23/10/2018 13:59

Are further share price falls ahead for Glencore PLC?
Could Glencore PLC (LON:GLEN) (GLEN.L) experience further challenges?
October 23, 2018 Robert Stephens Glencore (LON:GLEN)




Glencore PLC
Glencore PLC

The performance of the Glencore PLC (LON:GLEN) (GLEN.L) share price has been disappointing in recent months. The mining company’s valuation has fallen by over 20% since the start of the year.

One reason for this could be the uncertainty which the world economy is currently facing. There are fears that a stronger dollar could slow down the US economy, which could have a knock-on effect on the rest of the global economy. It could cause challenges in emerging markets due to the debt that they currently have after a long period of an expansive monetary policy.

A higher US interest rate may also support a stronger dollar. This in itself may cause demand for commodities to fall, while the prospect of further tariffs being put in place may also have caused investors to become concerned about the prospects for the wider industry.

There may also be regulatory risks holding back the Glencore share price. And in the near term, these factors could continue to weigh on its performance in my view. As a result, I wouldn’t be surprised if its market value comes under further pressure in the coming months.

The company, though, seems to have made progress with its strategy in my opinion over the last few years. It now has a stronger balance sheet than it used to, with cash flow also improving as a result of various cost-saving initiatives. This could help the company to perform better in future, with volatile commodity price rises likely to be a key part of the industry in the coming years.

With Glencore now having a dividend yield of almost 6% and a P/E ratio of around 9, I think that the company could offer good value for money versus the FTSE 100. While not the most stable or resilient of stocks due to its reliance on commodity prices, I feel that its share price fall has improved its risk to reward ratio for the long term.




About Robert Stephens 4644 Articles
Robert Stephens is a CFA Charterholder and an Equity Analyst by trade. He is a passionate private investor who has been buying and selling shares for many years, owning a wide range of UK shares in the process. He has written for Citywire and The Motley Fool US and now runs his own business. To contact Robert, please email [e-mail] or use one of the other contact methods available on the 'Contact Us' page

[foxy22] 23/10/2018 13:54

Thanks foryour informed responseI think u are right vis a vis outlookThe only thng worrying me s/t is if theCredit mkts dry up glen will be hit bad

[redtom1] 23/10/2018 13:14

I don't think it can go down too much more. Once the Q3 results are out (and assuming they are in line with expectations), this should create a bottom given the PE ratio and divi yield.
For a resource stock to have PE <10 and divi yield >5% is also unheard of. This will be due a re-rating but the global political climate may put this on hold for a while.
Personally, I think a FV for this share is in the 350p to 425p range.
But then again, what do I know.

[foxy22] 23/10/2018 12:41

This is going southHow far do u think anyone

[maywillow] 23/10/2018 07:03

"[It] had long seemed unthinkable: a Glencore without Glasenberg"
Glencore (LSE: GLEN) CEO Ivan Glasenberg has reportedly told investors he plans to retire in three to five years and has started training up to four possible successors.
"[It] had long seemed unthinkable: a Glencore without Glasenberg"

Glencore CEO Ivan Glasenberg

Mine Risk Management > Leadership

23 October 2018
comments
share

Staff reporter

Glasenberg had discussed his succession plan in recent meetings, Bloomberg reported, citing people familiar with the matter.

He believed the next leader should come from a younger generation, the wire service said, adding the comments put a timeline on the CEO's exit for the first time and force investors to consider what has long seemed unthinkable: a Glencore without Glasenberg.

Glasenberg, who turns 62 in January, worked as an accountant before joining Glencore in 1984.

He has been CEO of the global diversified miner and commodities trader since January 2002.

The company is part of the FTSE100 index, where its share price has fallen 16.73% year-to-date as it has faced challenges including a subpoena from US Department of Justice over its business in Nigeria, the Democratic Republic of Congo and Venezuela, and its stock was downgraded in April over separate legal woes in the DRC.

[waldron] 22/10/2018 16:59

Rio Tinto
3,700 +0.63%


BHP Billiton
1,550.4 +0.74%



Anglo American
1,663.2 +1.55%



Glencore
310.65 +0.75%



Gold COMEX 1,224.10 -0.48%
Silver COMEX 14.58 -0.48%
Copper COMEX 2.79 +0.36%
Brent Crude Oil NYMEX 79.72 -0.33%

[action] 22/10/2018 14:45

If Gassenberg retires in 3 to 5 years time may be the most exiting time in company history as he will do everything in his power to push up shares higher before he reduces his stack. DYOR.