Glencore Share Discussion Threads

[la forge] 18/2/2020 09:44

Philip Whiterow

08:50 Tue 18 Feb 2020

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viewGlencore PLC
Glencore slides into loss and puts coal and oil businesses on notice

Uncertainty caused by the US/China trade negotiations, weak commodity prices and operational problems hit results
Glencore PLC - Glencore slides into a loss and puts coal and oil businesses on notice
Glencore's Katanga cobalt mine had a better second half

Lower metal and coal prices and operational problems pushed Glencore PLC (LON:GLEN) into the red in 2019.

The mining and trading titan also promised to cut back its coal and oil businesses to reduce carbon emissions by 30% by 2035.

Ivan Glasenberg, chief executive, blamed uncertainty caused by the US/China trade negotiations, weak commodity prices and operational problems for the net loss of US$404mln (US$3.4bn profit).

On an underlying basis profit [adjusted EBITDA] fell 26% to US$11.6bn, though Glasenberg said the second half had seen a pick-up in cobalt after the first half problems at Katanga in the DRC.

The dividend for the year is $0.20 per share.
o MyProactive

[la forge] 18/2/2020 09:27

Liberum Capital Buy 270.00 - Reiterates

[dround87] 18/2/2020 08:20

How is this not falling through the floor! Genuinely interested if anyone has a decent explanation.

[montyhedge] 18/2/2020 07:37

Disappointing.

[losses] 18/2/2020 07:20

Not looking good..Adjusted EBITDA declined 26% to $11.6 billion.

[neilyb675] 18/2/2020 07:17

Recommended 2020 base distribution of $0.20 per share ($2.6 billion), payable in two equal instalments.

[gxgxx] 18/2/2020 07:10

Preliminary Results 2019 - The Important Bit - for me

Shareholder returnsIn line with healthy operating cash flow generation in 2019, we completed $4.7 billion of distributions and buybacks, comprising a $0.20 per share ($2.7 billion) base distribution (in respect of 2018 cash flows) and $2 billion of share buy-backs.We are again recommending to shareholders a 2020 base distribution of $0.20 per share (c.$2.6 billion), payable in two equal instalments in 2020.The continuing dislocation between our share price and the prospects, strength and embedded optionality in our business meansthat we continue to favour buybacks as a means of returning excess cash to shareholders. As and when cash flow generation andbalance sheet allow, potentially aided by some return of cash margin calls in respect of Marketing’s hedging activities and monetisation of select non-core long-term assets, we will seek to implement a new buyback program. In this regard, we would like to see our Net debt/Adjusted EBITDA ratio moving closer to 1x, and our Net debt reaching the c.$14-15 billion range, excluding Marketing related lease liabilities, before considering the same. Looking aheadWe remain focused on our strategy to sustainably grow total shareholder returns while operating in a responsible manner across all aspects of our business. Clearly in the shorter term, we are closely watching coronavirus developments and potential scenario impacts on global growth and markets and what adjustments, if any, are appropriate in our business planning.
Ivan GlasenbergChief
Executive Officer

[waldron] 17/2/2020 17:07

Iron Ore 86.39USD 1.53(1.77%)
Gold COMEX 1,584.70 -0.11%
Silver COMEX 17.77 +0.20%
Platinum NYMEX 973.70 +0.51%
Copper COMEX 2.63 +1.04%
Brent Crude Oil NYMEX 57.35 +0.05%
Gasoline NYMEX 1.73 +0.39%
Natural Gas NYMEX 1.94 +4.36%
(WTI) 52.1 USD -0.02%



Rio Tinto
4,212.5 +0.37%

Bhp
1,691.6 +0.98%

Anglo American
2,103.5 +0.48%

Glencore
236.65 +1.15%

[florenceorbis] 17/2/2020 07:51

AAL Goldman Sachs Neutral 2,210.00 - Reiterates

GLEN Goldman Sachs Buy 280.00 - Reiterates

RIO Goldman Sachs Buy 4,900.00 - Reiterates

BHP Goldman Sachs Neutral 1,750.00 - Reiterates

[florenceorbis] 17/2/2020 07:47

UBS Buy 270.00 - Reiterates

[dplewis1] 16/2/2020 16:03

Spam link do not click - there's no broker note.

[waldron] 14/2/2020 17:13

Iron Ore 84.86 USD -0.28(-0.33%)
Gold COMEX 1,584.80 +0.38%
Silver COMEX 17.73 +0.63%
Platinum NYMEX 967.40 -0.75%
Copper COMEX 2.60 -0.54%
Brent Crude Oil NYMEX 56.97 +1.12%
Gasoline NYMEX 1.72 -0.20%
Natural Gas NYMEX 1.86 +0.05%
WTI 51.85 USD +0.86%

Rio Tinto
4,197 -0.51%

Bhp
1,675.2 -1.14%

Anglo American
2,093.5 -1.81%

Glencore
233.95 -1.62%

[maywillow] 14/2/2020 10:46

2019 Preliminary Results on Tuesday, 18 February 2020.

[action] 14/2/2020 10:37

Results due on Monday.

[waldron] 13/2/2020 17:44

Iron Ore 85.14USD 0.67(0.79%)
Gold COMEX 1,579.50 +0.50%
Silver COMEX 17.63 +0.73%
Platinum NYMEX 974.20 +0.71%
Copper COMEX 2.62 +0.60%
Brent Crude Oil NYMEX 56.32 +0.95%
Gasoline NYMEX 1.74 +0.67%
Natural Gas NYMEX 1.87 -0.21%
WTI 51.62 USD +0.31%


Rio Tinto
4,218.5 -1.04%

Bhp
1,694.6 -0.70%

Anglo American
2,132 -1.00%

Glencore
237.8 -0.44%

[losses] 13/2/2020 12:16

Like you got it right on micro.

[montyhedge] 13/2/2020 10:43

Holding well, must admit thought it be nearer 200p than 240p.