Glencore Share Discussion Threads

[creditcrunchies] 14/12/2018 19:41

I've got commodities and they're up (gold and silver) this miner is on a major down trend if the divi is that great keep averaging down

[waldron] 14/12/2018 16:48

Rio Tinto
3,664.5 -1.87%


Anglo American
1,691.2 -1.21%



Glencore
288.85 -2.13%


Gold COMEX 1,243.00 -0.35%
Silver COMEX 14.68 -1.21%
Copper COMEX 2.76 -0.42%
Brent Crude Oil NYMEX 60.23 -1.99%
Gasoline NYMEX 1.44 -2.90%
Natural Gas NYMEX 3.91 -5.21%

[waldron] 13/12/2018 17:40

Rio Tinto
3,734.5 +0.67%


Anglo American
1,712 +1.94%


Glencore
295.15 +1.23%

Gold COMEX 1,247.00 -0.24%
Silver COMEX 14.84 -0.07%
Copper COMEX 2.77 +0.14%
Brent Crude Oil NYMEX 60.72 +0.95%
Gasoline NYMEX 1.45 +2.11%
Natural Gas NYMEX 4.20 +1.60%

[maywillow] 13/12/2018 10:24

Into the breach
13 December 2018 By George Hay

email Email Share

Who replaces Ivan Glasenberg? The internal succession battle at Glencore has investors gripped. The 61-year-old former coal trader, after all, turned the commodities trader into a mining heavyweight; he is still its second-largest shareholder and, since a 2011 listing, its public face. With the group in flux as 2019 dawns, Glasenberg will be tempted to get on the front foot.

Apart from succession, the board has two big challenges. One is handling the consequences of a U.S. Department of Justice probe into whether the group broke anti-bribery and anti-money laundering rules from 2007 onwards in Venezuela, Nigeria and Congo. The other is the company’s steep valuation discount. Putting Glencore’s $7.5 billion of estimated 2019 free cash flow on rivals’ 8 percent yield, the group should be worth $94 billion. After shares dipped by nearly a quarter in 2018, it’s actually worth $51 billion.

Replacing the top man is not straightforward. To date, Glencore’s approach has been Darwinian, with bosses ousted from below when they start fading. The retirement of copper trading boss Telis Mistakidis suggests space will clear for younger executives like nickel trading head Kenny Ives and newly appointed coal mine boss Gary Nagle. Glasenberg says he wants “a 45-year-old” to take the helm. Yet none of that anoints a clear successor.

Glasenberg could stay for another five years, but the recent changes suggest the company feels some pressure. As the U.S. investigation unfolds, the risk is current top managers get ensnared. If the boss feels this might involve him, it makes sense to leave sooner.

Meanwhile, even Glencore loyalists will want a better idea of its future shape before taking over. It won’t be the same group Glasenberg took over in 2002, and parts of the business – assets in troublesome Congo, for example – could yet be sold off, either as part of any future U.S. settlement or to hedge against further regulatory discomfort.

There’s also a chance of even bigger change. At recent valuations Glasenberg could finance a repurchase of all group shares not already held by managers or Qatar with around 3.5 years of free cash flow, Bernstein reckons. Given all the uncertainties, it’s possible that Glencore exits 2019 with a new look, a new boss, or both.

(This is a Breakingviews prediction for 2019

[notimpressed] 12/12/2018 21:33

if indeed the 161 mil was a sell, then we are in the mire.
could possibly be driven by the conclusions of the recent climate summit
and the scramble to divest holdings in fossil fuel related companies. by II's

[twixy] 12/12/2018 21:30

That was me; just done my tax return ;-)

[leoneobull] 12/12/2018 18:46

230 of million traded today!

[wetdream] 12/12/2018 18:22

161m sell!

[waldron] 12/12/2018 16:54

Rio Tinto
3,709.5 +1.84%


Anglo American
1,679.4 +1.07%


Glencore
291.55 +2.77%

Gold COMEX 1,250.80 +0.29%
Silver COMEX 14.86 +1.55%
Copper COMEX 2.77 +0.16%
Brent Crude Oil NYMEX 61.06 +1.43%
Gasoline NYMEX 1.46 +1.35%
Natural Gas NYMEX 4.20 -4.70%


AT PRESENT SNUG IN THE 280 to 310p BOX

[twixy] 12/12/2018 16:53

Volume today was off the scale at 200MM traded - hopefully augers well!

[waldron] 11/12/2018 17:16

Rio Tinto
3,642.5 +3.27%


Anglo American
1,661.6 +5.50%


Glencore
283.7 +3.35%


Gold COMEX 1,248.80 -0.05%
Silver COMEX 14.64 +0.24%
Copper COMEX 2.76 +1.40%
Brent Crude Oil NYMEX 60.20 +0.38%
Gasoline NYMEX 1.43 +0.73%
Natural Gas NYMEX 4.39 -3.43%


SO WE HAVE CREPT BACK INTO THE 280 to 310p BOX

[waldron] 11/12/2018 15:23

Broker Forecast - Citigroup issues a broker note on Glencore PLC
By BFN News | 12:00 PM | Monday 10 December, 2018

Factsheet Glencore PLC Ord USD0.01 (GLEN)


Citigroup today reaffirms its buy investment rating on Glencore PLC (LON:GLEN) and cut its price target to 360p (from 400p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk

[waldron] 10/12/2018 16:51

Rio Tinto
3,525 -1.66%


Anglo American
1,573.2 -2.15%


Glencore
274.35 -1.81%



Gold COMEX 1,251.60 -0.08%
Silver COMEX 14.67 -0.21%
Copper COMEX 2.72 -1.30%
Brent Crude Oil NYMEX 60.85 -1.33%
Gasoline NYMEX 1.45 -2.73%

[redtom1] 10/12/2018 08:27

Monty,

Never too late to improve governance. A bit slow to react but not too late.
I've concluded, having read your posts on various boards, that you deliberately take a contrarian view to wind up other posters. Out of interest, why do you do it?

Tom

[montyhedge] 10/12/2018 08:15

Closing the stable door after the horse has bolted. To late.

[twixy] 09/12/2018 18:22

Agreed; quite balanced and two days later, Glen announced changes to the senior team, so it seems their advisors are getting ahead of the game on cleaning up the governance.

[leoneobull] 09/12/2018 14:41

I would say it is quite balanced. Other articles have previously pointed out that the risk taking and operating in dodgy countries has lowered Glen's pe valuation compared to peers. So further divestment could strengthen the share price considerably. The implicit criticism in article may lead to solutions that enhance shareholder value so I welcome such articles.Nice to know gertler is Mr blood diamond who glencore bought out for 500m ish and subsequently has to pay 135 million to too

[p0pper] 09/12/2018 13:32

Seems like every day a negative story comes out about Glencore.

[the deacon] 09/12/2018 13:20

It doesn't paint a good picture at all

[la forge] 09/12/2018 09:26

Leoneobull
9 Dec '18 - 07:07 - 244 of 245
0 1 0



Shame i could not read but thanks anyways

have a nice day

[la forge] 09/12/2018 09:25

Bunge Is Open to Talks With Glencore, ADM as CEO to Leave
By Mario Parker
and Javier Blas
8 décembre 2018 à 21:12 UTC+1

CEO Schroder’s exit may be announced as soon as Monday: source
ADM and a unit of Glencore had held merger talks with Bunge