Streetbeat News

GLNCY

Glencore plc

https://www.glencore.com/

CEO

Ivan Glasenberg

Industry

Dimension Stone Mining and Quarrying

Open

8.34

Mkt cap

50B

Volume

84K

High

8.34

P/E Ratio

-30.37

52-wk high

12.74

Low

8.20

Div yield

0.02

52-wk low

7.84

Li-Cycle Holdings Corp (NYSE:LICY) has announced a $75 million investment from Glencore plc (OTC:GLNCY) through a senior secured convertible note. This investment follows a previous one in June 2022 and aims to improve Li-Cycle's liquidity. The company is also reviewing its strategy for the Rochester Hub and has agreed to add two Glencore nominees to its Board. Li-Cycle's shares surged 29.46% to $0.5193 following the announcement.

Portfolio Pulse from Shivani Kumaresan

March 12, 2024 | 3:44 pm

The nickel industry is facing a prolonged period of oversupply, leading to production cutbacks by major miners like Nornickel, BHP Group, Glencore, and Vale in response to falling prices and high operating costs. These cutbacks are aimed at supporting market prices and managing costs amid weak demand from the stainless steel and EV sectors. Several companies have recorded significant impairment charges, and some are considering operational adjustments to navigate the challenging market conditions.

Portfolio Pulse from Matt Whittaker

February 26, 2024 | 6:32 pm

Lifezone Metals has started a joint venture with a Glencore subsidiary to recycle platinum, palladium, and rhodium from spent automotive catalytic converters in the US. The initial phase of confirmatory piloting work is underway in Perth, Australia, utilizing the Hydromet process for the recovery of PGMs.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 11:05 am

Teck Resources Ltd (NYSE:TECK) shares are rising after announcing the sale of its 77% stake in Elk Valley Resources to Glencore PLC (OTC:GLNCY) for $6.9 billion in cash. Nippon Steel Corp (OTC:NISTF) will acquire a 20% interest in EVR. The deals will refocus Teck on critical minerals and copper growth projects, improving its capitalization and potential shareholder returns. TECK's liquidity as of October 23, 2023, was $7.0 billion. TECK shares are up 1.04% at $36.83.

Portfolio Pulse from Lekha Gupta

November 14, 2023 | 3:12 pm

Teck Resources Limited (NYSE:TECK) has agreed to sell its steelmaking coal business, Elk Valley Resources, to Glencore plc and Nippon Steel Corporation for an implied enterprise value of $9 billion. Glencore will acquire a 77% stake for $6.9 billion, while Nippon Steel will buy a 20% interest. Proceeds will be used to strengthen Teck's balance sheet and return cash to shareholders. The deal is expected to close in Q3 2024 for Glencore and Q1 2024 for Nippon Steel, subject to regulatory approvals. Glencore will establish a Canadian head office for the business, maintain jobs, and increase investment in the community.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 1:34 pm

Teck Resources is reportedly in advanced discussions to sell its coal business to Glencore, according to The Wall Street Journal. The deal, if finalized, would involve one of the world's largest mining companies, Glencore, acquiring the coal assets of Teck Resources, a major player in the mining sector.

Portfolio Pulse from Charles Gross

November 14, 2023 | 10:40 am

Glencore PLC has reported a decrease in its own sourced copper, zinc, and nickel production for the nine months ended FY23. The company has also cut its FY23 nickel production outlook and Ferrochrome outlook. Despite these reductions, Glencore expects its full-year 2023 Adjusted EBIT outcome to be above the top end of its long-term guidance range. The company's shares traded higher by 1.87% at $5.45 on Friday.

Portfolio Pulse from Lekha Gupta

October 30, 2023 | 5:16 pm

Li-Cycle Holdings Corp. (NYSE:LICY) reported Q2 2023 sales of $3.6 million, missing the consensus of $8.03 million. The reduction in market prices of cobalt and nickel impacted revenues. The company's EPS loss of $(0.20) aligned with the consensus estimate. Adjusted EBITDA loss widened from $(30.6) million to $(39.7) million. Q2 operating expenses increased to $46.1 million, primarily due to higher raw material and supply costs. The company held $288.8 million in cash and equivalents at the end of the quarter. LICY shares are trading lower by 10.7% at $4.91.

Portfolio Pulse from Nabaparna Bhattacharya

August 14, 2023 | 3:15 pm

PolyMet Mining Corp (PLM) has agreed to sell its remaining 17.8% of shares to Glencore PLC (GLCNF, GLNCY) for $2.11 per share, a 167% premium over PLM's share price as of June 30, 2023. The deal is expected to close in late Q3 or early Q4. Following the transaction, Glencore will hold 100% of PolyMet shares.

Portfolio Pulse from Lekha Gupta

July 17, 2023 | 1:51 pm

Bunge Ltd (NYSE:BG) and Chevron Corp's (NYSE:CVX) subsidiary Renewable Energy Group Inc. have acquired Argentina-based Chacraservicios S.r.l, a company that cultivates Camelina Sativa, a high oil content crop. The acquisition will add a new oil source to Bunge and boost Chevron's global supply chains, aiding both companies in catering to the increasing demand for lower-carbon renewable feedstocks. Last month, Bunge also disclosed an agreement to acquire Glencore PLC's (OTC:GLNCY) Viterra Limited.

Portfolio Pulse from Lekha Gupta

July 05, 2023 | 1:48 pm

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