Streetbeat News

GLNCY

Glencore plc

https://www.glencore.com/

CEO

Ivan Glasenberg

Industry

Dimension Stone Mining and Quarrying

Open

10.76

Mkt cap

66B

Volume

70K

High

10.80

P/E Ratio

-134.87

52-wk high

12.74

Low

10.70

Div yield

0.02

52-wk low

9.26

Alex Beard, former CEO of Glencore, has been charged with corruption by the UK's Serious Fraud Office, along with four other former Glencore employees. They are accused of making corrupt payments to benefit Glencore's oil operations in West Africa. This follows Glencore's 2022 guilty plea to corruption and market manipulation, resulting in $1.5 billion in fines.

Portfolio Pulse from Hayden Buckfire

August 01, 2024 | 5:24 pm

Keir Starmer of the Labour Party is set to become the new UK Prime Minister, ending 14 years of Conservative control. The iShares MSCI United Kingdom ETF (EWU) and Franklin FTSE United Kingdom ETF (FLGB) saw minimal gains, while the iShares MSCI United Kingdom Small Cap ETF (EWUS) could benefit from Labour's policies. Analysts see potential growth in the homebuilding and mining sectors.

Portfolio Pulse from Chris Katje

July 05, 2024 | 4:53 pm

Experts, including an executive from Glencore ADR (OTC:GLNCY), highlight that the U.S. permitting system is hindering the domestic battery metals industry. They argue that the slow permitting process creates uncertainty, making it difficult to attract capital and develop projects, which in turn affects the supply chain for battery materials.

Portfolio Pulse from Matt Whittaker

June 28, 2024 | 5:01 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

Shell plc (NYSE:SHEL) has agreed to sell its Energy and Chemicals Park in Singapore to CAPGC, a joint venture between Chandra Asri Capital and Glencore Asian Holdings. The sale includes all assets and commercial contracts of Shell Energy and Chemicals Park Singapore. The decision follows a strategic review initiated by Shell in June 2023. The transaction, expected to complete by end of 2024, includes crude supply and products offtake agreements. Shell aims to high-grade its Chemicals and Products business, aligning with its commitment to deliver more value with fewer emissions.

Portfolio Pulse from Shivani Kumaresan

May 08, 2024 | 9:36 am

RBC Capital Markets analyst Marina Calero suggests a Glencore (OTC:GLNCY) and Anglo American (OTC:NGLOY) merger would offer more synergies than BHP Group's (NYSE:BHP) $39 billion offer for Anglo American. The potential Glencore-Anglo merger could leverage closer asset proximity and marketing synergies, particularly in copper and coal sectors. Anglo American rejected BHP's offer, citing it as too low and unattractive due to conditions requiring divestitures of Anglo American Platinum Ltd. (OTC:ANGPY) and Kumba Iron Ore Ltd. (OTC:KIROY). A Glencore-Anglo merger might retain these assets, offering a strategic advantage.

Portfolio Pulse from Matt Whittaker

May 03, 2024 | 5:46 pm

BHP Group's nearly $40 billion bid for Anglo American may spark a bidding war for the copper-rich company, as demand for copper surges with the global shift towards clean energy. BHP's offer, seen as low by analysts, could lead to higher bids from rivals like Glencore, Vale, and Rio Tinto. The deal highlights the increasing value of copper assets amid a global scramble for resources essential to the clean energy transition.

Portfolio Pulse from Matt Whittaker

April 25, 2024 | 9:53 pm

Indonesia, under its new president Prabowo Subianto, is expected to continue its dominant nickel production policies, impacting global nickel prices and competitors. The country's approach has led to a price slump, affecting financing and operations of nickel projects worldwide, including those by Horizonte Minerals Plc, BHP Group Ltd., and Glencore. Indonesia's strategy of adding value domestically and attracting investments for an electric vehicle battery supply chain is likely to keep global markets flooded with cheap nickel.

Portfolio Pulse from Matt Whittaker

April 24, 2024 | 5:25 pm

Norway's sovereign wealth fund is considering divesting its $2.15 billion stake in Rio Tinto (NYSE:RIO) due to concerns over deforestation in the Brazilian Amazon. The fund, which is the world's largest at $1.6 trillion, has a history of ethical investing and previously divested from Rio Tinto in 2008 over environmental concerns. The Council On Ethics is in discussions with Rio Tinto but has not made a final decision. Glencore ADR (OTCPK: GLNCY) and South32 ADR (OTCPK: SOUHY) are also mentioned as related parties due to their stakes in Mineração Rio do Norte (MRN), a bauxite producer under scrutiny.

Portfolio Pulse from Stjepan Kalinic

April 03, 2024 | 6:23 pm

Anglo American (OTC:NGLOY) is considered a potential bargain by Barron's due to rising copper prices and a comprehensive portfolio review. Despite underperforming against competitors like BHP Group Ltd (NYSE:BHP), Rio Tinto (NYSE:RIO), and Glencore ADR (OTC:GLNCY) due to operational issues and market slumps in diamonds and platinum-group metals, Anglo American's focus on copper and potential strategic moves, including asset spin-offs or partnerships, could enhance its value. Analysts see the company's copper business and market recoveries as key drivers for improvement, with external factors like China's demand and green energy transitions supporting copper prices.

Portfolio Pulse from Matt Whittaker

March 25, 2024 | 9:55 pm

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