RE: Wow!24 Feb 2022 01:07
Glencore (LSE:GLEN) is another that has caught my attention this week. Just like Anglo Pacific, the group has a diversified metals portfolio geared towards renewable energy metals like copper, cobalt, and nickel. The group has also profited from rising materials prices. So, it’s hardly surprising to see the revenue stream expand by 43%, hitting $203.8bn (£150.1bn) in 2021. Meanwhile, profits returned to their highest point since 2018. What’s more, with inflation pushing up metal prices even higher, it’s possible that the financial performance of 2022 could be even more groundbreaking. That’s why I think this could be one of the best shares to buy and hold today. Of course, there are some risks to consider. On top of the exposure to fluctuating commodity prices, Glencore’s cobalt production comes mainly as a by-product of its copper mining activities in the Democratic Republic of Congo. This region is not exactly known for political stability, and should a shake-up in government occur, Glencore’s mining activities could become compromised. However, with additional cobalt streams pouring in from Australia and Canada, along with the rest of its metals portfolio, I feel buying and holding shares in this UK mining group is a risk worth taking. The post 6% dividend yield!