Streetbeat News

GLCNF

Glencore plc

https://www.glencore.com/

CEO

Ivan Glasenberg

Industry

Dimension Stone Mining and Quarrying

Open

4.05

Mkt cap

51B

Volume

600

High

4.23

P/E Ratio

-32.54

52-wk high

6.40

Low

4.05

Div yield

0.02

52-wk low

3.96

Rio Tinto and Glencore are testing investor support for a proposed $160 billion merger, which seems likely to fail, similar to BHP's unsuccessful $50 billion bid for Anglo American last year.

Portfolio Pulse from

January 17, 2025 | 7:30 am

Glencore had approached Rio Tinto last year to discuss a potential merger of their copper operations, but these discussions are no longer active.

Portfolio Pulse from

January 17, 2025 | 5:45 am

Bloomberg reports that Rio Tinto and Glencore are in preliminary talks for a potential deal, indicating a significant shakeup in the mining sector.

Portfolio Pulse from

January 16, 2025 | 8:45 pm

Rio Tinto and Glencore are in early talks for a potential merger, which could become the mining industry's largest-ever deal, significantly impacting the global landscape.

Portfolio Pulse from

January 16, 2025 | 7:45 pm

Glencore's South African ferroalloys unit, in partnership with Merafe Resources, has reached a financial close for a solar plant deal with Pele Green Energy.

Portfolio Pulse from

November 28, 2024 | 6:00 pm

Glencore and Chandra Asri are finalizing their acquisition of Shell's Singapore refinery. They have established a new operating company and plan to allocate 20% of the refinery's output to Shell.

Portfolio Pulse from

November 13, 2024 | 9:45 am

Glencore (OTC:GLCNF) has decided not to spin off its coal business after acquiring Teck's (NYSE:TECK) coal assets. Shareholders preferred retaining the profitable unit, which aligns with ESG policies of major shareholders like BlackRock. Despite a 33% decline in first-half earnings, Glencore remains open to more acquisitions.

Portfolio Pulse from Stjepan Kalinic

August 07, 2024 | 11:34 am

Canadian regulators have approved Glencore's (OTCPK: GLCNF) acquisition of Teck Resources' (NYSE: TECK) metallurgical coal business, Elk Valley Resources, for over $6.93 billion. The deal is set to close on July 11, with Glencore acquiring a 77% stake. This approval follows Glencore's previous failed hostile takeover attempt of Teck Resources. The acquisition will enhance Glencore's portfolio and provide significant cashflows. Teck Resources will focus on increasing copper production and returning value to shareholders.

Portfolio Pulse from Stjepan Kalinic

July 05, 2024 | 6:54 pm

Glencore has postponed discussions on spinning off its coal business until after the closure of its $6.93 billion acquisition of Teck Resources' steelmaking coal assets. The decision to potentially spin off the coal unit will be influenced by shareholder consultations, especially considering environmental and social governance concerns.

Portfolio Pulse from Stjepan Kalinic

May 30, 2024 | 6:19 pm

Hedge fund manager Pierre Andurand predicts copper prices could reach $40,000 per tonne, driven by increasing demand from sectors like electric vehicles and renewable energy. This bullish outlook highlights investment opportunities in copper miner stocks and the Global X Copper Miners ETF (NYSE:COPX). The ETF has shown strong returns and holds key copper mining companies. Technical indicators also suggest a positive trend for COPX.

Portfolio Pulse from Surbhi Jain

May 27, 2024 | 2:59 pm

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