Glencore PLC

Glencore Plc engages in the production and marketing of metal, mineral, and energy and agricultural commodities. The firm serves the automotive, steel, power generation, battery manufacturing, and oil sectors. It operates through the following segments: Marketing, Industrial, and Corporate and Other. The Marketing segment includes net sale and purchase of physical commodities, and provision of marketing and related value-add services. The Industrial segment deals with the sale of physical commodities over the cost of production and/or cost of sales. The Corporate and Other segment represents group related income and expenses. The company was founded in 1974 and is headquartered in Baar, Switzerland.

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Mining companies facing a tricky juggling act in 2023 as price rises tail off while costs continue to rise. That's the view of US bank Citigroup after reviewing the latest results and updates from the big mining sector.

Glencore and Anglo American best placed miners after latest results - Citi

Mining and commodity trading giant Glencore PLC (LSE:GLEN) formally announced the kick-off of a US$1.5bn share buyback programme. The repurchase operation is expected to be completed before the publication of the group's interim results in August.

Glencore formally kicks off US$1.5bn buyback programme

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Cobalt spot prices were down significantly for the month, and LME inventory was down for the month. A shift towards LFP batteries has not helped cobalt demand in China. Cobalt market news - BMI: Cobalt rout continues into 2023 due to limited demand from consumer electronics, a surplus supply from mines, and high inventory levels.

Cobalt Miners News For The Month Of February 2023

Glencore is still in favour with analysts at Barclays, which despite weakening coal income reckon payouts this year amount to an effective 18% yield that looks well supported going forward/ Payouts comprise a dividend of US$5.1bn (40c/sh), a US$0.5bn top-up dividend (4c/sh) and a US$1.5bn buyback, implying an annualised yield of 18% (14% dividend yield + 4% buyback), says the bank. Headlines might be about a glut of energy from mild weather while demand destruction in the EU remains a risk for coal prices but things should even out as China's reopening gains momentum in the second half, Barclays believes.

Glencore underpinned by effective 18% yield, according to Barclays

Credit Suisse downgraded its price target for Glencore PLC (LSE:GLEN) from £6.75 to £6.25 following 2022's results, which were broadly in line with expectations. The bank cited a 12% drop in FY23 EBITDA due to lower coal prices.

Glencore results prompt favourable recommendations by two leading City banks

Glencore had one of its greatest years on record, cutting debt to $75 million from $6 billion, and returning $7.1 billion to shareholders, as demand soars.

Glencore hands $7.1B to shareholders after record profit

Glencore plc (OTCPK:GLCNF) Q4 2022 Earnings Conference Call February 15, 2023 3:30 AM ET Company Participants Martin Fewings - Investor Relations Gary Nagle - Chief Executive Officer Steven Kalmin - Chief Financial Officer Peter Freyberg - Head, Assets Conference Call Participants Myles Allsop - UBS Liam Fitzpatrick - Deutsche Bank Jason Fairclough - Bank of America Alain Gabriel - Morgan Stanley Sylvain Brunet - BNP Paribas Exane Ian Rossouw - Barclays Danielle Chigumira - Credit Suisse Ephrem Ravi - Citi Tyler Broda - RBC Martin Fewings Good morning and welcome. Thank you for joining us for the presentation of our 2022 Financial Results.

Glencore plc (GLCNF) Q4 2022 Earnings Call Transcript

(Kitco News) - Global mining and natural resources group Glencore today reported net income attributable to equity holders of $17.3 billion for the full year 2022, up 248% from 2021.

Global natural resources group Glencore posts net income of $17.3 billion in 2022, up 248% from 2021

The company's next cash cow is probably copper, but the fortunes for both depend heavily on China.

Glencore Profits Handsomely From Energy Transition

Glencore has it all. It is the world's biggest producer of cobalt, and is among the top three public copper companies and nickel companies. For those following my “CCLANG” series of the six essential materials for the electrification revolution, Glencore is unique, with its roots in trading.

The Glencore Trifecta: Cobalt, Copper And Nickel (And More)

Proving the old stock market adage that it's better to travel than arrive, shares in Glencore PLC lost 2% of their value in opening salvos – even after reporting record annual earnings and massive cash hand back. After an 18% appreciation in the value of the stock in past year, the mining and commodities trading house would have had to have spectacularly outperformed to move the stock market needle higher, analysts reckon.

Glencore shares nudge 2% lower as market says 'meh' to US$7.1bn cash return

Glencore PLC said Wednesday that it will return $7.1 billion to shareholders after reporting record 2022 earnings on the back of significant growth in its marketing and energy divisions.

Glencore will return $7.1 billion to shareholders after record 2022 earnings

Glencore announced a payout of $7.1 billion to its investors on Wednesday, including a $1.5 billion share buyback, as strong oil and coal prices helped it post a record 2022 profit.

Glencore declares $7.1 bln payout to shareholders after record 2022

Barclays

Midweek brings the first in our FTSE 100 banking season, with Barclays PLC (LSE:BARC). Overall, the focus for the banking sector will be on shareholder returns and possibly windfall taxes, but for the blue-eagle bank analysts said it was the most difficult to predict in the coming week due to its investment bank.

Barclays kicks off bank season on Wednesday, Glencore adds extra income interest

It is time to stop buying Glencore PLC (LSE:GLEN), that's according to analysts at UBS, who today downgraded the miner and commodities trader to ‘neutral'. Despite its stock being up 50% since the beginning of 2022 and outperforming its competitors by 20%, analysts at UBS point to a weaker near-term outlook for thermal coal and cobalt prices which the Swiss bank's team reckons lead to a more balanced risk-vs-reward profile.

Glencore no longer a ‘buy' as UBS eyes financial results

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Stocks with long symbols are difficult to remember and easy to overlook. That would be a mistake.

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US oil major Exxon Mobil Corporation (NYSE:XOM) is reportedly planning to more aggressive in commodity trading, with a new division aiming to compete with the likes of Glencore and Trafigura. The division seeks to be active in the high-risk, high-reward world of energy derivatives, according to a report by Bloomberg.

Exxon plans to challenge Glencore and Trafigura in commodity trading business - report

The coal world is ‘restoring its price hierarchy', as the costs for metallurgical coal are soaring, while those for thermal coal are under pressure, according to a research note issued by Liberum. The difference in pricing is due to the steel industry in Asia coming out of winter and looking for raw materials, while power-gens are stocking up before the next shoulder season, the City broker said.

Glencore, Anglo American, BHP: Which of these stocks provides the best exposure to the current coal market?

(Kitco News) - Glencore announced today that its own sourced copper production in 2022 of 1,058,100 tonnes was 12% lower than 2021, due to the basis change arising from the sale of Ernest Henry in January 2022, the ongoing geotechnical constraints at Katanga, Collahuasi planned mining sequence changes and a lower contribution from Mount Isa.

Global mining group Glencore reports 12% copper production decline in 2022

Glencore PLC (LSE:GLEN) said its copper production dropped by 12% in 2022, impacted by issues at its Katanga open-pit mine in the Democratic Republic of Congo (DRC). The FTSE 100-listed miner and trader said it produced 1.06 million tonnes of copper last year, and kept its 2023 outlook unchanged at around 1.04 million tonnes.

Glencore sees copper production drop 12% in 2022, impacted by issues at its Katanga open-pit mine

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Two Barron's Annual Roundtable, plus one Bloomberg Intelligence articles published late-January listed 99 intriguing stocks for 2023; 77 were unduplicated US publicly-listed companies, of which, 56 paid-dividends. Barron's two roundtable discussions January 20 and 27 split 49 picks from 9 panelists in half, whereas Bloomberg detailed all 50 in their January 16 BusinessWeek edition.

Barron's And Bloomberg 2023 Ideal Dividend Stocks Of The Year

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Europe vanadium pentoxide spot prices were slightly higher the past 30 days. China and Europe ferrovanadium prices were higher. Vanadium market news - Analysts forecast vanadium prices to increase steadily coming into 2023. Queensland government to build a A$75m vanadium, rare earth processing facility.

Vanadium Miners News For The Month Of January 2023

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Cobalt spot prices were lower for the month, LME inventory was lower for the month. Cobalt market news - BMI anticipates that cobalt prices will fall in early 2023 given surplus forecasts. Project Blue forecasts cobalt prices should strengthen as the year goes on.

Cobalt Miners News For The Month Of January 2023

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Copper prices have climbed by nearly 12% since the turn of the year, supported by a broad-based base metals recovery. It is perhaps premature to speculate that copper prices will support most copper miners' stock prices.

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Steven Romick (Trades, Portfolio) disclosed his portfolio for the fourth quarter of 2022 earlier this month.

News for Glencore PLC Stock (GLNCY)