Glencore Share Price (GLEN)

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Share Name Share Symbol Market Type Share ISIN Share Description
Glencore Plc LSE:GLEN London Ordinary Share JE00B4T3BW64 ORD USD0.01
  Price Change % Change Share Price Shares Traded Last Trade
  7.72 6.48% 126.88 50,095,557 16:35:10
Bid Price Offer Price High Price Low Price Open Price
127.30 127.50 128.58 120.00 120.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 162,201.02 -669.58 -2.26 16,906
Last Trade Time Trade Type Trade Size Trade Price Currency
17:47:38 O 11,475 123.187 GBX
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Glencore (GLEN) Latest News

Glencore News

Date Time Source Headline
31/3/202016:55DJFRCoronavirus: Glencore reporte sa décision sur le versement du dividende
31/3/202015:03DJNGlencore to Defer Decision on Proposed Cash Distribution of $0.20/Share
31/3/202014:36ALNCGlencore Defers Cash Distribution; Extends And Refinances Facility
31/3/202014:12ALNCFAlliance News Flash Headline
31/3/202014:07UKREGGlencore PLC 2020 Distribution and Revolving Credit Facilities
26/3/202014:38ALNCTOP NEWS: Glencore Operating As Usual But Some Operations Wind Down
26/3/202014:19UKREGGlencore PLC Update on COVID-19
20/3/202015:41DJNGlencore Says No Material Disruption to Businesses, Supply Chain from..
20/3/202015:03ALNCTOP NEWS: Glencore Says No Virus Disruption Yet; Reports Cash Position
20/3/202014:45UKREGGlencore PLC Update on COVID-19
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Date Time Title Posts
02/4/202017:25Glencore Xstrata2,340
10/2/202009:24Glencore2
28/6/201913:49Glencore International - A global player15,406
22/9/201618:38Analysts' View on Glencore (GLEN)-
02/2/201615:29GLENCORE INTERNATIONAL PLC: Jon's Bear Club500

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Glencore (GLEN) Top Chat Posts

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02/4/2020
09:20		Glencore Daily Update: Glencore Plc is listed in the Mining sector of the London Stock Exchange with ticker GLEN. The last closing price for Glencore was 119.16p.
Glencore Plc has a 4 week average price of 109.76p and a 12 week average price of 109.76p.
The 1 year high share price is 343.60p while the 1 year low share price is currently 109.76p.
There are currently 13,324,342,541 shares in issue and the average daily traded volume is 52,778,325 shares. The market capitalisation of Glencore Plc is £16,905,925,816.02.
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19/2/2020
09:17		florenceorbis: This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (February 19, 2020). Glencore PLC swung to a loss in 2019 as subdued prices for commodities -- including coal -- weighed on earnings in its industrial unit and prompted the miner to write down the value of key assets. The Anglo-Swiss commodities company booked $2.8 billion in impairment charges, which contributed to a net-loss of $404 million, down from a profit of $3.41 billion in 2018. Glencore is the biggest exporter and producer of thermal coal among the world's major diversified mining companies, leaving it exposed to a steep decline in the price of the fossil fuel in recent years. The price of coal delivered into ports in Northern Europe -- a benchmark for sales from Glencore's coal-mining operations in Colombia -- fell 39% in 2019 amid a flood of cheap liquefied-natural gas, as well as policies designed to reduce greenhouse-gas emissions. The drop in prices, which has extended into 2020, prompted Glencore to write down its Colombian coal assets by almost $1 billion, the company said in its annual report Tuesday. The charges also included impairments to oil operations in Chad, stemming from the expiration of oil-exploration licenses. Glencore had failed to reach an agreement with the country's government about extending them. The company also impaired its copper and cobalt mine in the Democratic Republic of Congo by $300 million to reflect falling cobalt prices and its decision to halt production at the mine in November. Glencore shares closed down 4.5% in London after the company reported the loss, its first since commodity prices slumped in 2015. "It's clear that the amount of coal being consumed in the Atlantic [market] is decreasing," said Chief Executive Ivan Glasenberg, a former coal trader who has been consistently bullish about the outlook for the fossil fuel in the developing world. "That will continue to decrease." Glencore is gearing up for a change of leadership after Mr. Glasenberg -- who became CEO in 2002 -- signaled late last year that the company would make management changes in 2020, paving the way for his retirement. "We're working on it and there will be a few senior changes coming," Mr. Glasenberg told reporters. "Once the new generation's in place and ready to move on, then it's time for me, too, to move on." Mr. Glasenberg said Glencore had no plans to stop mining thermal coal, which is burned to generate electricity, pointing to rising demand for the fuel in fast-growing Asian economies. Glencore's coal reserves in Colombia are due to run out by 2035 and Chief Financial Officer Steven Kalmin said the company would review its operations in the Latin American country if they became unprofitable. Currently, they are breaking even, he said. Glencore expects to keep mining thermal and metallurgical coal in Australia at current rates for longer, saying that demand for higher-quality Australian coal is rising at power plants and steel producers in Asia. The miner -- one of the world's biggest producers of raw materials such as copper, cobalt and coal -- also said it was closely monitoring the deadly outbreak of coronavirus, which has caused significant disruption in China, the world's biggest consumer of raw materials. The initial impact of the epidemic on Glencore's business has been minor, but the company could decide to reduce output if the illness leads to a sizable drop in demand in the commodities it produces, Mr. Glasenberg said. "We haven't seen a major effect yet," he said. "We don't want to dig the material out of the ground if it's not required in the market." Another gauge of profitability closely followed by investors -- adjusted earnings before interest, taxes, depreciation and amortization -- fell 26% to $11.6 billion from $15.8 billion in 2018. That was slightly ahead of the consensus forecast of $11.2 billion, according to a compilation of analyst predictions by Vuma. Glencore's trading division -- which ships raw materials such as oil, copper and wheat around the world -- partially offset the pressure on profit from weak commodity prices. Adjusted Ebitda from marketing activities rose 5.8% to $2.6 billion, driven by the strong performance of the company's oil traders, who benefited from volatility in energy markets. Analysts at Citigroup said Glencore had "reported a decent set of results," saying that a widening of net debt to $17.6 billion was largely driven by changed accounting standards. Mr. Glasenberg declined to give more details about the timing and results of various regulatory investigations that have weighed on Glencore's share price in recent years. The company said in July 2018 that it had received a subpoena from U.S. authorities related to compliance with corruption and money-laundering laws at its operations in the Democratic Republic of Congo, Nigeria and Venezuela. Last year, Glencore said it was also subject to investigations by the U.S. Commodity Futures Trading Commission and by the U.K.'s Serious Fraud Office. Write to Joe Wallace at Joe.Wallace@wsj.com (END) Dow Jones Newswires February 19, 2020 02:47 ET (07:47 GMT)
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18/2/2020
12:46		sarkasm: Glencore Swings to Loss Amid Lower Commodity Prices -- 2nd Update share with twitter share with LinkedIn share with facebook share via e-mail 0 02/18/2020 | 12:21pm GMT By Joe Wallace and Adria Calatayud Glencore PLC swung to a loss in 2019 as subdued prices for commodities -- including coal -- weighed on earnings in its industrial unit and prompted the miner to write down the value of key assets. The Anglo-Swiss commodities giant booked $2.8 billion in impairment charges, which contributed to a net-loss of $404 million, down from a profit of $3.41 billion in 2018. The company is the biggest exporter and producer of thermal coal among the world's major diversified miners, leaving it exposed to a steep decline in the price of the fossil fuel in recent years. The price of coal delivered into ports in northern Europe -- a benchmark for sales from Glencore's coal-mining operations in Colombia -- tumbled 39% in 2019 amid a flood of cheap liquefied-natural gas, as well as policies designed to reduce greenhouse-gas emissions. The drop in prices, which has extended into 2020, prompted Glencore to write down its Colombian coal assets by almost $1 billion, the company said in its annual report Tuesday. The charges also included impairments to oil operations in Chad, stemming from the expiration of oil-exploration licenses. Glencore had failed to reach an agreement with the country's government about extending them. The company also impaired its massive copper and cobalt mine in the Democratic Republic of Congo by $300 million to reflect falling cobalt prices and its decision to halt production at the mine in November. Glencore shares slipped 3.2% in London after the company reported the loss, its first since commodity prices slumped in 2015. "It's clear that the amount of coal being consumed in the Atlantic is decreasing," said Chief Executive Ivan Glasenberg, a former coal trader who has been consistently bullish about the outlook for the fossil fuel in the developing world. "That will continue to decrease." Glencore is gearing up for a change of leadership after Mr. Glasenberg, who became chief executive in 2002, signaled late last year that the company would make management changes in 2020, paving the way for his retirement. "We're working on it and there will be a few senior changes coming," Mr. Glasenberg told reporters. "Once the new generation's in place and ready to move on, then it's time for me, too, to move on." Mr. Glasenberg said Glencore had no plans to stop mining thermal coal, which is burned to generate electricity, pointing to rising demand for the fuel in fast-growing Asian economies. Glencore's coal reserves in Colombia are due to run out by 2035 and Chief Financial Officer Steven Kalmin said the company would review its operations in the Latin American country if they became unprofitable. Currently they are breaking even, he said. Glencore expects to keep mining thermal and metallurgical coal in Australia at current rates for longer, saying that demand for higher-quality Australian coal is rising at power plants and steel producers in Asia. The miner -- one of the world's biggest producers of raw materials such as copper, cobalt and coal -- also said it was closely monitoring the deadly outbreak of coronavirus, which has caused massive disruption in China, the world's biggest consumer of raw materials. The initial impact of the epidemic on Glencore's business has been minor, but the company could decide to reduce output if the illness leads to a major drop in demand in the commodities it produces, said Mr. Glasenberg. "We haven't seen a major effect yet," Mr. Glasenberg said. "We don't want to dig the material out of the ground if it's not required in the market." Another gauge of profitability closely followed by investors -- adjusted earnings before interest, taxes, depreciation and amortization -- dropped 26% to $11.6 billion from $15.8 billion in 2018. That was slightly ahead of the consensus forecast of $11.2 billion, according to a compilation of analyst predictions by Vuma. Glencore's trading division -- which ships raw materials such as oil, copper and wheat around the world -- partially offset the pressure on profits from weak commodity prices. Adjusted Ebitda from marketing activities rose 5.8% to $2.6 billion, driven by the strong performance of the company's oil traders, who benefited from volatility in energy markets. Analysts at Citigroup said Glencore had "reported a decent set of results," saying that a rise in net debt to $17.6 billion was largely driven by changed accounting standards. Mr. Glasenberg declined to give more details about the timing and results of various regulatory investigations that have weighed on Glencore's share price in recent years. The company said in July 2018 that it had received a subpoena from U.S. authorities related to compliance with corruption and money-laundering laws at its operations in the Democratic Republic of Congo, Nigeria and Venezuela. Last year, Glencore said it was also subject to investigations by the U.S. Commodity Futures Trading Commission and by the U.K.'s Serious Fraud Office. Write to Joe Wallace at Joe.Wallace@wsj.com
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06/12/2019
07:02		waldron: Glencore Faces Bribery Probe, Sending Shares Lower--4th Update 05/12/2019 11:22pm Dow Jones News Glencore (LSE:GLEN) Intraday Stock Chart Today : Friday 6 December 2019 Click Here for more Glencore Charts. By Alistair MacDonald and Scott Patterson LONDON -- Britain's top financial cop said it is investigating Glencore PLC for alleged bribery, sending shares of the mining and commodities-trading company down 9% and adding to regulatory woes elsewhere that have weighed on the company all year. The U.K.'s Serious Fraud Office said it was investigating suspicions of bribery "in the conduct of business by the Glencore group of companies, its officials, employees, agents and associated persons." It didn't elaborate. Glencore also disclosed the probe in a statement on Thursday. It declined to comment further. The agency has been looking into the mining giant's activities in the Democratic Republic of Congo and its relationship with Israeli diamond merchant Dan Gertler, according to a person familiar with the probe. Glencore's shares have fallen nearly 25% this year amid regulatory scrutiny all over the world. During the same period, most large miners' stock has risen. Analysts blame Glencore's underperformance on its legal and regulatory troubles, among other factors. Glencore said in July 2018 that it had received a subpoena from the U.S. Justice Department, demanding records relating to its compliance with American antibribery and money-laundering laws in the Democratic Republic of Congo, Nigeria and Venezuela. Glencore has also said that it is the subject of an investigation by the U.S. Commodity Futures Trading Commission. The company has engaged external legal counsel and forensic experts to assist in responding to the Justice Department and CFTC investigations, Glencore said in posting its half-year results in August. "This is an obvious negative...there is a serious discount already in the Glencore share price" as a result of investigations, said Tyler Broda, an analyst at the Royal Bank of Canada. Mr. Broda said regulatory investigations and other problems, such as the group's exposure to coal, mean the company was already trading at a $28 billion discount to peers such as BHP Ltd. The Journal reported last year that the focus of the Justice Department's probe is Glencore's ties to Mr. Gertler. The U.S. Treasury Department sanctioned Mr. Gertler in 2017, alleging he traded on a friendship with former Congolese President Joseph Kabila to amass a fortune through "opaque and corrupt" deals on behalf of multinational companies seeking to do business in Congo. Glencore provided nearly $1 billion in loans and advances to companies associated with Mr. Gertler in a roughly 10-year period starting in 2007, according to documents reviewed earlier this year by The Wall Street Journal. The loans were designed in part to help finance investments by Mr. Gertler in copper-mining operations in Congo alongside Glencore, the documents show. A spokesman for Mr. Gertler's main company in Congo, Fleurette Group, didn't immediately comment. The group has denied wrongdoing in the past. Glencore's shares have been weighed down by regulatory investigations, but the company faces other problems, including weakness in the price of coal and cobalt and underperformance at its African copper division. On Tuesday, Glencore Chief Executive Ivan Glasenberg signaled senior management changes for 2020, paving the way for his own eventual departure. Mr. Glasenberg, who joined Glencore in 1984 and has been CEO since 2002, told investors that the company would meet in early 2020 to talk about a change to its "old guard." Once a new layer of management was in place, he would be in a position to step aside, he said. The 62-year-old South African-born executive joined Glencore in 1984 and has been CEO since 2002. He merged Glencore, a commodities-trading company with Xstrata, one of the world's biggest mining companies, in a $29.5 billion deal that created one of the world's largest coal, copper and zinc producers in 2013. The company also moved heavily into cobalt and copper, two metals that are seen as a bet on the electrification of transport, and a play that increased its exposure to Congo. The company's shares have been on a volatile ride in recent years amid concerns about overleverage in 2015 and more recently a lengthening list of regulatory investigations. Write to Alistair MacDonald at alistair.macdonald@wsj.com and Scott Patterson at scott.patterson@wsj.com (END) Dow Jones Newswires December 05, 2019 18:07 ET (23:07 GMT)
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05/12/2019
17:31		waldron: Glencore Faces Bribery Probe, Sending Shares Lower--3rd Update 05/12/2019 5:23pm Dow Jones News Glencore (LSE:GLEN) Intraday Stock Chart Today : Thursday 5 December 2019 Click Here for more Glencore Charts. By Alistair MacDonald and Scott Patterson LONDON -- Britain's top financial cop said it is investigating Glencore PLC for alleged bribery, sending shares of the mining and commodities-trading company down almost 9% and adding to regulatory woes elsewhere that have weighed on the company all year. The U.K.'s Serious Fraud Office said it was investigating suspicions of bribery "in the conduct of business by the Glencore group of companies, its officials, employees, agents and associated persons." It didn't elaborate. Glencore also disclosed the probe in a statement on Thursday. It declined to comment further. The agency has been looking into the mining giant's activities in the Democratic Republic of Congo and its relationship with Israeli diamond merchant Dan Gertler, according to a person familiar with the probe. Glencore's shares have fallen nearly 25% this year amid regulatory scrutiny all over the world. During the same period, most large miners' stock has risen. Analysts blame Glencore's underperformance on its legal and regulatory troubles, among other factors. Glencore said in July 2018 that it had received a subpoena from the U.S. Justice Department, demanding records relating to its compliance with American antibribery and money-laundering laws in the Democratic Republic of Congo, Nigeria and Venezuela. Glencore has also said that it is the subject of an investigation by the U.S. Commodity Futures Trading Commission. The company has engaged external legal counsel and forensic experts to assist in responding to the Justice Department and CFTC investigations, Glencore said in posting its half-year results in August. "This is an obvious negative...there is a serious discount already in the Glencore share price" as a result of investigations, said Tyler Broda, an analyst at the Royal Bank of Canada. Mr. Broda said regulatory investigations and other problems, such as the group's exposure to coal, mean the company was already trading at a $28 billion discount to peers such as BHP Ltd. The Journal reported last year that the focus of the Justice Department's probe is Glencore's ties to Mr. Gertler. The U.S. Treasury Department sanctioned Mr. Gertler in 2017, alleging he traded on a friendship with former Congolese President Joseph Kabila to amass a fortune through "opaque and corrupt" deals on behalf of multinational companies seeking to do business in Congo. Glencore provided nearly $1 billion in loans and advances to companies associated with Mr. Gertler in a roughly 10-year period starting in 2007, according to documents reviewed earlier this year by The Wall Street Journal. The loans were designed in part to help finance investments by Mr. Gertler in copper-mining operations in Congo alongside Glencore, the documents show. A spokesman for Mr. Gertler's main company in Congo, Fleurette Group, didn't immediately comment. The group has denied wrongdoing in the past. Glencore's shares have been weighed down by regulatory investigations, but the company faces other problems, including weakness in the price of coal and cobalt and underperformance at its African copper division. On Tuesday, Glencore Chief Executive Ivan Glasenberg signaled senior management changes for 2020, paving the way for his own eventual departure. Mr. Glasenberg, who joined Glencore in 1984 and has been CEO since 2002, told investors that the company would meet in early 2020 to talk about a change to its "old guard." Once a new layer of management was in place, he would be in a position to step aside, he said. The 62-year-old South African-born executive joined Glencore in 1984 and has been CEO since 2002. He merged Glencore, a commodities-trading company with Xstrata, one of the world's biggest mining companies, in a $29.5 billion deal that created one of the world's largest coal, copper and zinc producers in 2013. The company also moved heavily into cobalt and copper, two metals that are seen as a bet on the electrification of transport, and a play that increased its exposure to Congo. The company's shares have been on a volatile ride in recent years amid concerns about overleverage in 2015 and more recently a lengthening list of regulatory investigations. Write to Alistair MacDonald at alistair.macdonald@wsj.com and Scott Patterson at scott.patterson@wsj.com (END) Dow Jones Newswires December 05, 2019 12:08 ET (17:08 GMT)
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04/10/2019
08:13		florenceorbis: Investomania Will an uncertain global outlook hurt Premier Oil, Glencore and Tullow Oil? Could shares in Premier Oil PLC (LON:PMO) (PMO.L), Glencore PLC (LON:GLEN) (GLEN.L) and Tullow Oil plc (LON:TLW) (TLW.L) experience a challenging period? October 4, 2019 Robert Stephens, CFA FTSE 100 (INDEXFTSE: UKX), FTSE 250 (INDEXFTSE: MCX), Glencore (LON: GLEN) (GLEN.L) (GLEN.LON), Premier Oil (LON: PMO) (PMO.L) (PMO.LON), Tullow Oil (LON: TLW) (TLW.L) (TLW.LON) Tullow Oil share price Tullow Oil share price The world economy continues to face a period of uncertainty, and this could cause a degree of volatility for the share prices of Premier Oil PLC (LON:PMO) (PMO.L), Glencore PLC (LON:GLEN) (GLEN.L) and Tullow Oil plc (LON:TLW) (TLW.L) in my view. As cyclical businesses that are dependent on demand for a variety of materials, the stocks could be hurt by weaker demand resulting from an increasingly protectionist global economy in my view. The oil price, for instance, may experience weaker demand growth than has previously been expected. A slowing world economy, particularly in Asia where growth has been strong in recent years, could mean that Premier Oil and Tullow Oil suffer to some degree from a lower oil price. This, though, could be countered by restricted supply growth as a result of geopolitical risks in areas such as South America, North Africa and the Middle East. Therefore, I’m optimistic about the prospects for the both stocks over the long run. Premier Oil has a disciplined approach to costs and debt reduction to my mind. Its modest P/E ratio also makes it more appealing in my view, although I still consider it to be a high-risk stock. Similarly, Tullow Oil’s focus on ramping-up production and reducing leverage could create a stronger business over the long run in my opinion. This may catalyse investor sentiment to some degree and facilitate a higher share price in future years. Glencore, meanwhile, is undergoing a period of transition in my opinion. It is seeking to switch from fossil fuels to cleaner energy, with an example of this being its plans to expand production of key materials used in vehicle batteries. This may prove to be a growth market for the business to my mind, with around 30% of all vehicle sales by 2030 expected to be fully electric vehicles. Regulatory risks may also hold back Glencore’s performance in the short run. But as far as its investment potential versus the rest of the FTSE 100 mining sector, I’m optimistic about its long-term prospects in spite of the potential for further global macro risks.
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08/9/2019
08:31		sarkasm: the motely fool The Glencore share price has fallen 20% in six months – here’s what I’d do now Conor Coyle | Friday, 6th September, 2019 | More on: GLEN Silhouette of digger Image source: Getty Images. Shares in mining giant Glencore (LSE:GLEN) have taken a beating over the last six months or so, with the company’s share price currently sitting at 235p, a fall of just under 20%. A recent surge has prompted some investors to consider whether now is the right time to buy into a recovery of the FTSE 100 stock. Glencore has suffered from falling profits in recent times, no less than in its most quarterly earnings report where its adjusted earnings before interest, tax, depreciation and amortisation fell 32% to $5.6bn. Full-year results in 2018 fell short of expectations and that trend appears to be continuing this year, with lower commodity prices for its main production materials weighing on performance. So what are the prospects for the Glencore share price for the remainder of 2019 and beyond? Operational issues Fears over a global recession and an ongoing trade conflict between the US and China, leading to a fall in cobalt prices led to declining profits for Glencore in the last quarter, but the company also referred to unresolved operational issues as making up $2bn of the $8bn decline in operating earnings. While cobalt prices have recovered somewhat since Glencore announced it was closing its Mutanda mine in DR Congo, it’s the so-called operational issues which lead me to be sceptical about the prospect of a recovery. New laws in the African country made it increasingly difficult for one of Glencore’s biggest mines to be profitable. DRC is the world’s largest producer of cobalt but the introduction of a raft of smaller competitors has driven prices and profitability down. Value play Looking at Glencore’s dividend yield of 6.5% alongside a current P/E ratio of more than 9, there is certainly an argument to say that the stock represents a great value investment now at 235p. Considering other miners such as Rio Tinto and Anglo American offer yields of 5.5% and 4.2% respectively at current prices, as an income investment that argument is potentially stronger. However, Glencore is currently the subject of a number of ongoing investigations into alleged corruption in the countries where it has mines, which is harming its reputation and making it more and more difficult to do business there. The firm’s half-year results also included a write-down of around $350m due to the falling value of unsold inventory, which doesn’t fill me with confidence that it is prepared for potentially wide swings in commodity prices. While the very nature of the mining industry in which Glencore operates is quite cyclical, much of the pressure affecting the prices of cobalt and other commodities relates to ongoing geopolitical uncertainty. With US President Donald Trump continuing to slap extra trade tariffs on China and a variety of other issues weighing on the wider global economy, I don’t see that uncertainty coming to an end any time soon. That’s why I’d hold off on buying Glencore shares at this stage, at least until the prospect of steady long-term rises in commodity prices become a reality.
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30/8/2019
17:58		waldron: the motely fool Is the Glencore share price a buy after its latest surge? Tom Rodgers | Friday, 30th August, 2019 | More on: GLEN Diggers and trucks in a coal mine Image source: Getty Images. Mining giant Glencore (LSE:GLEN) is one of the most traded stocks on the FTSE 100, but is there a buy-in chance for value investors? Investments in copper and coal have been paying off for the Glencore share price, which is trending upwards after falling 30% this year. Bag a bargain? The Glencore share price will go into ex-dividend on 5 September so investors may be tempted to invest now to benefit from a plump 3.6% interim dividend. Shareholders were rewarded with a $2.9bn payout in 2018 and a planned special dividend of 10 cents will take this year’s payout to 20 cents per share. A yield of 6.5% on a trailing P/E ratio of 8.8 seems on the face of it to be a cracking investment. There are few FTSE 100 companies priced this cheaply that also offer high yields. The shares are also trading near to their 52-week low, which suggests GLEN could be a steal. But look beyond the headlines and there are serious causes for concern. Cycle, re-cyle Mining as an industry is cyclical with high outlay costs. It is also fragile to shocks and highly susceptible to falls in the market price for raw materials. Consider the sharp rise and fall of operating profits over the last five years. In 2014, Glencore’s operating profit was just over $5bn on revenues of $221bn. 2015 saw revenues plummet to $141bn, with the miner posting a $7bn operating loss. Across the following 12 months, revenues rose slightly to $152bn and operating profit was back in the black at $946m, although this was tempered by pre-tax losses of $549m. 2017 brought revenues back over $200bn with profits of $7.1bn. By the end of 2018, the firm’s revenue was up to $214bn, with operating profits lower at $5.1bn. These are not numbers any investor can reasonably rely on year to year. Return on Capital Employed (ROCE) — a measure of how well a company makes returns on the investments it makes — has also been extremely inconsistent for Glencore. Its ROCE was 5% in 2014, fell to 2% in 2015, gained to 8% by 2017 and dropped to 7% in 2018. If you follow my advice you’ll watch the best fund managers to see how they decide on stocks that bring in a reliable income over a long period of time. Fundsmith’s Terry Smith, for example, looks to buy companies that achieve ROCE of 25% or more. Good ROCE figures usually mean that top brass in a business is using capital efficiently to provide quality, long-term value for shareholders that is sustainable over time. I don’t think this is the case with Glencore at all. Legal troubles It has also attracted the scrutiny of lawmakers. News of a 2018 Department of Justice probe into its operations in Venezuela, Nigeria and the Democratic Republic of Congo has weighed heavily on the share price and the company confirmed in April 2019 it was under investigation by the US Commodity Futures Trading Commission. Glencore set up an Investigations Committee last year to co-operate with regulators and this team will oversee its response to these cases. Buying Glencore appears to me to come with substantial risks. As a value investor, I’d avoid it.
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18/4/2019
07:19		sarkasm: INVESTOMANIA Is Glencore PLC’s share price set to beat the FTSE 100? Could Glencore PLC (LON:GLEN) (GLEN.L) deliver an improving share price outlook? April 18, 2019 Robert Stephens Glencore (LON:GLEN) Improving investor sentiment towards the wider FTSE 100 may have helped to push the Glencore PLC (LON:GLEN) (GLEN.L) share price higher since the start of the year. With investors now seemingly more positive about the prospects for the world economy, the resources stock has risen by around 12% since the turn of the year. In my view, while there could be risks and uncertainty ahead for the company and the wider sector, I’m nevertheless optimistic about its long-term outlook. It seems to have a sound strategy to my mind, as well as a low valuation. Resources sector prospects In the near term, it wouldn’t surprise me if the resources sector experiences a period of volatility. Economic data being released by China has been relatively weak of late in some respects, with its GDP growth rate expected to slow further over the medium term. There has also been weak data released in the US. This could indicate that its economic growth rate may slow, which would be bad news for the world economy. However, it may also mean that planned interest rate rises are slower than previously expected. This could lessen the cost of servicing debt for emerging market economies, while also potentially making a variety of commodities less expensive in local currencies. As a result, I feel that the economic outlook for the world economy is uncertain at the moment. This could mean that Glencore and other resources sector companies experience a volatile period, with their share prices potentially being impacted by more cautious investors in the short run. Share price growth potential With Glencore having made a variety of changes to its business model over recent years, I think the company is in a strong position to deliver EPS growth. It has reduced debt, while also making its business more efficient. These changes could help it to overcome the potential volatility that may be present in the resources industry. Glencore has also sought to focus to an increasing extent on the electric vehicle marketplace. I think this is a good idea, since I expect sales of electric vehicles to continue to rise – particularly as they are likely to fall in price relative to petrol cars as the cost of production is shared among a wider base of vehicles. Valuation Since the Glencore share price trades on a P/E ratio of 8.5, I think that it offers a large margin of safety at the moment. This could mean that it is able to deliver improving share price performance over the long run, with it seeming to trade at a larger discount to its intrinsic value than a number of other FTSE 100 resources shares. Although it may be volatile in the near term, I think the company’s strategy is sound. As a result, after strong gains since the turn of the year, I’m optimistic about the prospects for the stock over the long run.
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04/3/2019
13:18		grupo guitarlumber: Https://www.cmcmarkets.com/en-gb/opto/glencore-glen-share-price-set-to-profit-from-energy-storage-boom Glencore [GLEN] share price set to profit from energy storage boom Analysts are hot on Swiss mining behemoth, Glencore, with a majority holding ‘buy’ ratings on the stock as it increases its production of minerals used in electric batteries. By Opto 04 Mar 2019, 08:50 GMT With a $54bn market cap and $8.3bn in profits for the first-half of 2018, Glencore [GLEN] is the largest mining company in the world by revenue. The firm’s share price has had a solid start to 2019, gaining over 10%. However, it is currently trading 25% off its 2018 high reached in January. After an initial upwards sprint at the start of last year, despite some fluctuations, H1 was largely consistent for the stock. Powered by CMC Markets, as at 01 March 2019 But things changed in July 2018 after the mining giant was hit by a money laundering probe from the US Department of Justice, sending its share price south by as much as 19% over the week ensuing. The company was dragged into the Brazilian car wash investigation by the end of the year as well. In an effort to keep investors and traders on side, Glencore switched its focus from deal making to a share buyback programme that saw it repurchase up to $1bn of stock in July and, another $1bn in December. Its dividend also tripled year-on-year, rising to $0.10 for both halves of 2018. $0.10 Glencore dividend in both halves of 2018 The decline in the company’s share price has meant that the stock currently offers a forward dividend yield of 5.26% and a price to earnings ratio of 6.91, which is attracting the attention of analysts with 12 out of 22 financial institutions holding ‘buy’ ratings for the stock. Since its IPO of 531.10p in 2011, Glencore’s share price has fallen 41%, it trades at 307.00p (at the time of writing). Oil and gas underpin earnings growth The massive price swings and oversupply warnings in oil impacted Glencore’s crude production in 2018, as it fell by 8% to 4.6 million barrels. Coal production meanwhile was 7% higher than in 2017 at 129.4 million tonnes. The global commodities market as a whole was the best performing asset class in 2018 after oil prices were slashed. Commodity prices particularly rallied when the US Federal Reserve signalled a slowing of interest rate rises and a lowered risk of recession, pushing Goldman Sachs towards an ‘overweight’ rating for the sector. Goldman also said European commodities and mining equities were “attractively positioned,” expecting a 10% rate of return in 2019. However, the suspense over the US-China trade talks continues to affect oil markets in the run up to 1 March. 10% Goldman's expected rate of return for European commodities and mining equities in 2019 “Resumption of the US-China trade talks has prompted risk-appetite in financial markets, which has also manifested in oil prices gaining strength,” Abhishek Kumar, analyst at Interfax Energy, said. “Nevertheless, there needs to be a tangible outcome from the talks for a sustained rally in prices.” Glencore plans to capitalise on battery mineral growth Recently, Glencore has begun targeting the renewable energy trend in electric vehicles as a key growth driver. Rapid advances in battery chemistry and tumbling prices has seen the energy-storage market boom. The market is expected to attract $620bn in investment over the next 22 years. Glencore is working to position itself as a core supplier. Rechargeable batteries used in electric vehicles are primarily made up of nickel and zinc, which increased in production by 13% and 2% respectively in 2018. The company expects 25%, 30% and 133% growth by 2020 in its copper, nickel and cobalt production respectively. Glencore’s wider mining production meanwhile for 2018 saw copper 11% higher than in 2017, due to its Democratic Republic of Congo operations recommencing, which had a knock-on effect with its cobalt production that soared 54% higher than 2017 – the highest increase out of all its mineral sources. Market cap £42.07bn PE ratio (TTM) 12.76 EPS (TTM) 24.00 Payout ratio 83.81% Glencore stock vitals, Yahoo finance, as at 1 March 2019 Changing of the old guard CEO Ivan Glasenberg, who helped make the company into a dominant force in commodities trading while also becoming the face of the industry, is set to retire in the next three to five years. The exit of Glasenberg will mark a generational shift at the top as he looks for a younger CEO to take his spot. The leadership upheaval also signifies the company’s changing face as it transitions into new areas in a bid to attract new growth and a stronger share price performance.
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02/1/2019
11:31		la forge: Financial Survey: GLENCORE PLC/ADR (GLNCY) versus China Oilfield Services (OTCMKTS:CHOLY) Posted by Darrell McKinsey on Jan 2nd, 2019 inShare GLENCORE PLC/ADR (OTCMKTS:GLNCY) and China Oilfield Services (OTCMKTS:CHOLY) are both basic materials companies, but which is the superior investment? We will contrast the two companies based on the strength of their dividends, institutional ownership, valuation, risk, earnings, analyst recommendations and profitability. Valuation & Earnings Get GLENCORE PLC/ADR alerts: This table compares GLENCORE PLC/ADR and China Oilfield Services’ top-line revenue, earnings per share (EPS) and valuation. Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio GLENCORE PLC/ADR $205.48 billion 0.25 $5.78 billion $0.78 9.28 China Oilfield Services $2.57 billion 0.60 $4.89 million $0.02 850.50 GLENCORE PLC/ADR has higher revenue and earnings than China Oilfield Services. GLENCORE PLC/ADR is trading at a lower price-to-earnings ratio than China Oilfield Services, indicating that it is currently the more affordable of the two stocks. Dividends GLENCORE PLC/ADR pays an annual dividend of $0.34 per share and has a dividend yield of 4.7%. China Oilfield Services pays an annual dividend of $0.15 per share and has a dividend yield of 0.9%. GLENCORE PLC/ADR pays out 43.6% of its earnings in the form of a dividend. China Oilfield Services pays out 750.0% of its earnings in the form of a dividend, suggesting it may not have sufficient earnings to cover its dividend payment in the future. GLENCORE PLC/ADR is clearly the better dividend stock, given its higher yield and lower payout ratio. Analyst Ratings This is a breakdown of current ratings and recommmendations for GLENCORE PLC/ADR and China Oilfield Services, as provided by MarketBeat.com. Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score GLENCORE PLC/ADR 0 2 6 0 2.75 China Oilfield Services 0 0 1 0 3.00 Institutional & Insider Ownership 0.1% of GLENCORE PLC/ADR shares are held by institutional investors. Strong institutional ownership is an indication that endowments, large money managers and hedge funds believe a stock is poised for long-term growth. Profitability This table compares GLENCORE PLC/ADR and China Oilfield Services’ net margins, return on equity and return on assets. Net Margins Return on Equity Return on Assets GLENCORE PLC/ADR N/A N/A N/A China Oilfield Services -0.59% -0.33% -0.16% Risk and Volatility GLENCORE PLC/ADR has a beta of 2.06, suggesting that its share price is 106% more volatile than the S&P 500. Comparatively, China Oilfield Services has a beta of 1.02, suggesting that its share price is 2% more volatile than the S&P 500. Summary GLENCORE PLC/ADR beats China Oilfield Services on 11 of the 14 factors compared between the two stocks. GLENCORE PLC/ADR Company Profile GLENCORE PLC/ADR logoGlencore plc engages in the production, refinement, processing, storage, transport and marketing of metals and minerals, energy products, and agricultural products worldwide. It operates in three segments: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in smelting, refining, mining, processing, and storing zinc, copper, lead, alumina, aluminum, ferroalloys, nickel, cobalt, and iron ore. The Energy Products segment activities include coal mining and oil production operations covering crude oil, oil products, steam coal, and metallurgical coal; and investments in ports, vessels, and storage facilities. The Agricultural Products segment engages in the storage, handling, processing, and port facilities of wheat, corn, canola, barley, rice, oil seeds, meals, edible oils, biofuels, cotton, and sugar. Glencore plc markets and delivers physical commodities sourced from third party producers and its production to industrial consumers in the automotive, steel, power generation, oil, and food processing industries. The company was formerly known as Glencore Xstrata plc and changed its name to Glencore plc in May 2014. Glencore plc was founded in 1974 and is headquartered in Baar, Switzerland. China Oilfield Services Company Profile China Oilfield Services logoChina Oilfield Services Limited, together with its subsidiaries, provides integrated offshore oilfield services in Mainland China and internationally. The company operates through four segments: Drilling Services, Well Services, Marine Support Services, and Geophysical and Surveying Services. The Drilling Services segment provides drilling, module rigs, land drilling rigs, and drilling rigs management services. As of December 31, 2017, it operated and managed a total of 43 drilling rigs, including 32 jackup drilling rigs and 11 semi-submersible drilling rigs; 3 accommodation rigs; and 5 module rigs. The Well Services segment offers onshore and offshore well services, including logging, drilling and completion fluids, directional drilling, cementing, well completion and workover, stimulation, etc. The Marine Support Services segment owns and operates offshore vessels that provide services for offshore oil and gas fields exploration, development, construction, and production. This segment also offers anchor handling for various water level, towing of drilling rigs/engineering barges, oil lifting, offshore transportation, standby, firefighting, rescue, oil spill assisting, and other marine support services. It operates and manages approximately 130 vessels, including AHTS vessels, platform supply vessels, and oilfield standby vessels. The Geophysical and Surveying Services segment provides offshore seismic acquisition, offshore geo-surveying, seismic data processing and interpretation, and underwater engineering services. It owns five towing streamer seismic vessels, one professional source vessel professional source vessel, two undersea cable team, five integrated marine surveying vessels, and two support vessels. China Oilfield Services Limited also issues bonds. The company is based in Beijing, China. China Oilfield Services Limited is a subsidiary of China National Offshore Oil Corporation. Receive News & Ratings for GLENCORE PLC/ADR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GLENCORE PLC/ADR and related companies with MarketBeat.com's FREE daily email newsletter.
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