GLEN LN

Glencore PLC

Industrial/Transportation, Energy


Presented:11/28/2022
Price:£5.38
Cap:$106.64B
Current Price:£4.04
Cap:$75.51B

Presented

Date11/28/2022
Price£5.38
Market Cap$106.64B
Ent Value$121.75B
P/E Ratio5.88x
Book Value£3.00
Div Yield6.05%
Shares O/S12,894.10M
Ave Daily Vol31,535,135
Short IntN/A

Current

Price£4.04
Market Cap$75.51B
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.

Publicly traded companies mentioned herein: Alcoa Corp (AA), Alumina Ltd (AWC AU), Glencore PLC (GLEN LN), Norsk Hydro ASA (NOHA GR) 

Highlights

The presenter is long shares of Glencore PLC (GLEN LN), a metals and mining company, which has a difficult ESG profile for many fund managers, and near-constant regulatory investigations. This includes a criminal bribery scheme settlement with the US Department of Justice that was finalized this year but has been a blight on the company. On top of this, mining ROIC in recent years has been broadly poor since the last China mining investment cycle ended.

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Idea Discussion

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