Glencore is deeply undervalued, trading at sub-4x EV/EBITDA and a 60% discount to sum-of-the-parts valuation, despite robust cash generation. The business model's integration of marketing and mining provides resilience across commodity cycles, supporting stable free cash flow and shareholder returns. Key upside catalysts include a copper output rebound, strong cobalt pricing, integration of new steelmaking coal assets, and potential U.S. listing or restructuring.
Glencore PLC (LSE:GLEN) isn't a stock that gets many people excited these days. Once a regular fixture in market chatter, the mining and trading giant has slipped off the radar lately, dogged by falling coal prices, patchy performance at its mines, and a more subdued outlook for its powerhouse Marketing division.
A potential mega-merger between Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF) and Glencore PLC (LSE:GLEN) is back in focus after a sweeping internal restructuring by the Swiss commodities group, which analysts at Citi say could ease the path to a transaction. But they also caution that any deal would face significant valuation and strategic hurdles.
![]() GLCNF In 2 months Announced | Other | $0.05 Per Share |
![]() GLCNF 1 month ago Paid | Other | $0.05 Per Share |
![]() GLCNF 9 months ago Paid | Other | $0.07 Per Share |
![]() GLCNF 9 months ago | Other | $0.07 Per Share |
![]() GLCNF 2 May 2024 Paid | Other | $0.07 Per Share |
6 Aug 2025 (47 Days) Date | | - Cons. EPS | - EPS |
19 Feb 2025 Date | | - Cons. EPS | - EPS |
30 Oct 2024 Date | | - Cons. EPS | - EPS |
7 Aug 2024 Date | | - Cons. EPS | - EPS |
29 May 2024 Date | | - Cons. EPS | - EPS |
![]() GLCNF In 2 months Announced | Other | $0.05 Per Share |
![]() GLCNF 1 month ago Paid | Other | $0.05 Per Share |
![]() GLCNF 9 months ago Paid | Other | $0.07 Per Share |
![]() GLCNF 9 months ago | Other | $0.07 Per Share |
![]() GLCNF 2 May 2024 Paid | Other | $0.07 Per Share |
6 Aug 2025 (47 Days) Date | | - Cons. EPS | - EPS |
19 Feb 2025 Date | | - Cons. EPS | - EPS |
30 Oct 2024 Date | | - Cons. EPS | - EPS |
7 Aug 2024 Date | | - Cons. EPS | - EPS |
29 May 2024 Date | | - Cons. EPS | - EPS |
Industrial Materials Industry | Basic Materials Sector | Mr. Gary Nagle C.A. CEO | OTC PINK Exchange | JE00B4T3BW64 ISIN |
CH Country | 84,146 Employees | 29 Aug 2025 Last Dividend | - Last Split | - IPO Date |
Founded in 1974 and headquartered in Baar, Switzerland, Glencore plc stands as a global leader in the commodities sector, specializing in the acquisition, production, refinement, processing, storage, transportation, and marketing of metals, minerals, and energy products. With operations sprawling across the Americas, Europe, Asia, Africa, and Oceania, Glencore operates under two main segments: Marketing Activities and Industrial Activities. This dual-structure enables the company not only to produce and market a diverse range of commodities but also to offer an array of services to both third-party producers and industrial consumers, encompassing financing, logistics, and more.
Glencore is involved in the production and marketing of a wide array of base and industrial metals, and minerals. This includes copper, cobalt, lead, nickel, zinc, chrome ore, ferrochrome, vanadium, aluminum, alumina, and iron ore. These products are pivotal in various industries, including battery manufacturing, electronics, construction, and automotive, indicating Glencore's integral role in global supply chains.
The company's energy portfolio encompasses coal, crude oil, refined oil products, and natural gas. Glencore is also engaged in oil exploration and production, as well as refining and distribution. These energy products support a wide spectrum of industries, from steel production to energy provision and oil industries, marking Glencore as a key player in global energy markets.
Glencore's marketing and distribution arm operates to supply physical commodities sourced both from third-party producers and from its own production. Specialized in catering to the needs of the battery, electronic, construction, automotive, steel, energy, and oil industries, the company's marketing efforts ensure the efficient distribution of essential commodities worldwide.
Beyond mere production and marketing, Glencore provides a suite of additional services that are critical to the functioning of the commodities market. This includes financing options for producers and consumers of commodities, logistical support ensuring the efficient transport and delivery of goods, and various other services designed to facilitate the seamless trade of commodities across the globe.