Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Motoring...
Good point QZ and glad u are in the money Evi. Maybe it's the red wine tonight but I am feeling quietly excited about the coming week. As Billy says. the run up to results may be a warming experience. You know that Barclays brokers report said free cash flow would be c 50% of Market Cap for 2023-4. Market caps is now c $ 64bn. If they are anywhere near correct next div could be very tasty indeed. Just my thoughts looking ahead...
QZ... a but baffled by your analysis. You talk about a SP of 4.10 as tho it was yesterday. It hasn't been at 4.10 since early July, more than three months ago. Over £5 at close today
Barclays keeps Glencore as 'top pick' despite darkening skies
Fri, 21st Oct 2022 12:44
(Sharecast News) - Analysts at Barclays reiterated Glencore as their 'top pick' within the European Metals and Mining space.
Despite what they termed the 'darkening skies', they said there were opportunities to be had.
In the case of Glencore, they believed the shares were underpinned by a structural shift towards coal which they believed was being ignored by the market and a spot free cash flow yield of 34%.
They estimated that Glencore shares were discounting a price of $66 per tonne of thermal coal to perpetuity, against a 2027 forward curve on $280 per tonne.
"EU coal equivalent gas price at $525/t gives significant incentive to switch, giving room for prices to run higher into N. hemisphere winter," they said.
"We forecast shareholder returns (divi and buybacks) of 49% of market cap over 2023-24 using our base case forecasts, 50% using forward curves and 57% using spot."
As an aside, BHP, on which the analysts were at 'equalweight' was seen as "relatively cheap" among the large capitalisation diversified miners.
Barclays kept its target price for Glencore at 700.0p.
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SP shot up to over £5 after 2pm anyone know why?
Operating profit 1.2bn sounds v good. What were expectations?
SP just shot up 5% in one minute. What's happened?
485...
480...
she's really motoring ..
I expect as usual Billi your crystal ball will be right. Could be a good week? BTW has anyone looked at a company called Thungela Resources- TGA? It's a pure coal play. Share price up nearly 1000 per cent since it spun off from Anglo last year. It's paying a huge dividend of 18 per cent after going ex-div on September 22 (pays within a week). No stamp duty either. Too good to be true?
a nice rise this morning chaps...
ICE Newcastle Coal Oct '22 (LQV22)
460.00 +19.10 (+4.33%) 04:27 CT [ICE/EU]
452.00 x 1 465.00 x 1
ICE NEWCASTLE COAL PRICES for Mon, Sep 5th, 2022
COALCommodity
364.00+6.00+1.68%
08:29:00 AMMI Indication
Supercharger, there are actually TWO divis being paid on Sept 22 (and going ex on Sept 1) - the interim of 10p, as you say, and the special of 9p (11c) - not at all bad and likely more to come next May!
Glencore (LON:GLEN – Get Rating)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank of Canada in a note issued to investors on Thursday, MarketBeat.com reports. They currently have a GBX 550 ($6.65) price objective on the natural resources company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 16.43% from the company’s previous close.
A number of other research analysts also recently weighed in on GLEN. Deutsche Bank Aktiengesellschaft set a GBX 560 ($6.77) price objective on Glencore in a research note on Monday, August 8th. Credit Suisse Group set a GBX 570 ($6.89) price objective on Glencore in a research note on Friday, August 5th. JPMorgan Chase & Co. cut their price objective on Glencore from GBX 620 ($7.49) to GBX 590 ($7.13) and set an “overweight” rating on the stock in a research note on Friday, August 5th. Barclays reissued an “overweight” rating and issued a GBX 700 ($8.46) price objective on shares of Glencore in a research note on Monday, August 8th. Finally, The Goldman Sachs Group set a GBX 600 ($7.25) target price on Glencore in a report on Monday, August 8th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of GBX 576.15 ($6.96).
483 now. Top of the FTSE Leader Board. Nothing, of course, is ever simple. And nothing normally goes as hoped for or expected. But in very simple business terms: everyday the Coal price is over 315 (now 354) and all other things being equal, GLEN is making more cash than it did in the record breaking first half. I have a very very small business. But wouldn't anyone want to own a business with a division that was so productive? Can't last, of course
Nice rise this morning. Can't see SP heading anywhere downwards in run up to very tasty ex-divi date week after next. Just looking at the real cash cow: the coal price. In its trading Update on June 15 GLEN said it was expecting super big profits because coal price averaged 315 per tonne in first six months. Now at the start of H2 - since July 1 - the coal price has been about 350ish. Can anyone see it going down as we head to autumn and winter? GLEN is the world's biggest coal trader - for good or ill- and it's minting billions now because of the high coal price. Other commodities such as copper have gone a little off the boil but have an excellent long term prognosis. Coal is the super-charged engine room and explains why GLEN is simply raking in the cash. Later this year, it says, many of the billions tied up in working capital are expected to be released and will add to the cash pile. As long as there is no wider market slump - and that's a big if- surely the fundamentals seem really very very good indeed?
Eadwig if you go to top of this page and click on GLEN Share news then go to entry at 5 August Broker Ratings and scroll down
Credit Suisse raises Glencore price target to 570 (560) pence - 'outperform'
JPMorgan cuts Glencore price target to 590 (620) pence - 'overweight'
Bank of America raises Glencore price target to 480 (470) pence - 'neutral'