RE: Coal5 Oct 2021 15:43
Glencore (ticker: GLEN.U.K.), based in Switzerland, is one of the world’s top coal producers, with output this year projected at 104 million metric tons.
In a client note titled the “Coal Kicker,” Jefferies analyst Chris LaFemina estimated that Glencore’s earnings before interest, taxes, depreciation, and amortization (Ebitda) from its coal business have risen to an annual run rate of $9.1 billion from $1.3 billion in August 2020.
LaFemina has a Buy rating and a price target of 425 pence for Glencore’s U.K.-listed shares, almost 30% above the recent price of 330 pence