Earnings Alerts

Glencore Plc (GLEN) Earnings: FY Own-Source Copper Production Aligns with Estimates, Highlighting Strong H2 Performance

By January 30, 2025 No Comments
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  • Glencore’s own-source copper production in 2024 was 951,600 tons, closely meeting the estimate of 959,297 tons.
  • Own-source cobalt production reached 38,200 tons, surpassing the estimate of 37,074 tons.
  • Production of zinc stood at 905,000 tons, exceeding the anticipated 892,535 tons.
  • Lead production was 185,900 tons, slightly below the estimate of 186,627 tons.
  • Nickel production achieved 82,300 tons, nearly meeting the projected 82,890 tons.
  • Glencore produced 738,000 ounces of gold, just shy of the estimate of 756,754 ounces.
  • Silver production was 19.29 million ounces, overtaking the expected 18.30 million ounces.
  • Ferrochrome production ended at 1.17 million tons, above the targeted 1.12 million tons.
  • Increased copper production in the second half (H2) of the year (+6% compared to H1) was bolstered by improvements at Antapaccay and better grades at KCC.
  • Overall, 2024 production volumes adhered to Glencore’s guidance ranges due to stronger H2 performance across major commodities.
  • Zinc production saw a 17% increase in H2 with additional contributions from Kazzinc, Mount Isa, and Antamina.
  • Coal production experienced growth with a 5.2 million ton increase in energy volumes in H2, driven by operational improvements in Australia and South Africa. Steelmaking coal added 13.1 million tons in H2, largely due to a 12.5 million ton contribution from EVR.
  • Investor sentiment appears positive with 16 buy ratings, 3 holds, and no sell ratings reported.

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Glencore Plc on Smartkarma

Analyst coverage of Glencore Plc on Smartkarma has been intriguing, with Money of Mine providing insightful research on the mining giant. In their report titled “We’re Back. And so are Mega Deals,” the analysts discuss rumors of a potential merger between Glencore and Rio Tinto. This speculation has captured the attention of the industry, hinting at significant implications for the market landscape. Despite talks being reported in the second half of last year, they are currently inactive, leaving room for speculation on the future of these mining giants.

The report from Money of Mine, with a bullish lean, sheds light on the potential merger and the dynamics between Glencore and Rio Tinto. While both companies maintain London listings, the absence of official comments on the rumors suggests a potential quiet period in line with UK takeover rules. This research, based on publicly available sources, provides general informational purposes and offers a glimpse into the evolving narrative surrounding Glencore Plc‘s strategic moves in the industry.


A look at Glencore Plc Smart Scores

FactorScoreMagnitude
Value4
Dividend4
Growth2
Resilience3
Momentum2
OVERALL SMART SCORE3.0

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 in Metals and Minerals, Energy Products, and Agricultural Products, shows promising long-term prospects according to Smartkarma Smart Scores. With high ratings in Value and Dividend (both at 4), Glencore is deemed to be undervalued in the market and potentially offering attractive dividend returns to investors. However, the company scores lower in Growth and Momentum (both at 2), indicating some room for improvement in terms of growth potential and market momentum. Despite this, Glencore demonstrates moderate Resilience (score of 3), suggesting a reasonable ability to weather market fluctuations.

Overall, Glencore Plc‘s Smartkarma Smart Scores paint a picture of a company with solid value and dividend propositions but facing challenges in growth and market momentum. As a global player in the natural resources sector, Glencore’s performance in the coming years will likely be influenced by its ability to capitalize on growth opportunities and strengthen market confidence. Investors should consider these factors along with the company’s diversified operations when evaluating its long-term outlook.


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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