- Strong Copper Production: Own-source copper production was 462,600 tons, beating the estimate of 414,840 tons.
- Lower Cobalt Production: Own-source cobalt production was 15,900 tons, below the estimate of 17,091 tons.
- Moderate Zinc Production: Own-source zinc production hit 417,200 tons, slightly missing the estimate of 426,168 tons.
- Lead Production Lagged: Own-source lead production was 87,900 tons, falling short of the 90,618-ton estimate.
- Nickel Production Didn’t Meet Expectations: Own-source nickel production was 44,200 tons, under the estimate of 45,210 tons.
- Gold Production Below Estimate: Own-source gold production was 369,000 ounces, below two estimates of 421,932 ounces.
- Silver Production Close to Estimate: Own-source silver production was 9.12 million ounces, narrowly missing the two estimates of 9.18 million ounces.
- Ferrochrome Production Surpassed Estimates: Own-source ferrochrome production was 599,000 tons, exceeding the estimate of 570,700 tons.
- Production Outlook: The company expects to catch up on year-to-date production versus guidance in the second half of 2024.
- Steelmaking Coal Guidance Updated: New 2024 steelmaking coal production guidance is 19 million to 21 million tons, including 12 million tons expected from EVR volumes in the second half of the year.
- Unchanged Production Guidance: Except for EVR adjustments, production guidance remains the same as announced in February 2024.
- Market Ratings: 11 buys, 6 holds, and 0 sell recommendations.
Glencore Plc on Smartkarma
Analyst coverage of Glencore Plc on Smartkarma has highlighted the recent developments involving a significant acquisition and potential demerger. According to Dimitris Ioannidis, in the research report titled “Glencore (GLEN): Green Light from Canada for $6.9bn Acquisition of EVR. Demerger on the Table.“, Glencore’s $6.9bn cash acquisition of a 77% stake in Teck’s Elk Valley Resources has received regulatory approval from the Government of Canada. The acquisition is set to close on July 11, 2024, with no expected impact on passive fund flows based on the deal structure. However, the potential demerger post-acquisition poses a risk for Glencore in approaching the exit threshold of STOXX Europe 50, although the specific implications remain uncertain due to the long time horizon.
A look at Glencore Plc Smart Scores
Factor | Score | Magnitude |
---|---|---|
Value | 4 | |
Dividend | 5 | |
Growth | 4 | |
Resilience | 3 | |
Momentum | 3 | |
OVERALL SMART SCORE | 3.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Glencore Plc, a diversified natural resources company operating globally, shows a promising long-term outlook based on its Smartkarma Smart Scores. With a high score in Dividend and solid scores in both Value and Growth, Glencore demonstrates strong potential for stable returns and value appreciation. This indicates that the company is well-positioned to provide attractive dividends to its investors while maintaining a robust growth trajectory.
Although Glencore has slightly lower scores in Resilience and Momentum, its overall Smart Scores paint a positive picture for its future performance. The company’s operations in Metals and Minerals, Energy Products, and Agricultural Products further solidify its position as a key player in the natural resources sector. Investors may find Glencore Plc an appealing long-term investment option based on its strong fundamentals and potential for sustained growth.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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