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Glencore: Q2 Production Report Analysis

Aug. 01, 2022 1:04 PM ETGlencore plc (GLCNF), GLNCY4 Comments
Mare Evidence Lab profile picture
Mare Evidence Lab


  • Glencore reported mixed results compared to Wall Street analyst estimates.
  • It also reported strong performance of coal and marketing.
  • It has higher FCF coverage than peers, and the dividend yield is only second to Rio Tinto. We confirm our buy rating.

AERIAL: Lignite surface mine with giant bucket-wheel excavator


In this earnings season, we are closely following the mining sector. For our readers that want to deep-dive and compare the quarterly production report, below is our coverage universe:

This article was written by

Mare Evidence Lab profile picture
Buy-side hedge professionals conducting fundamental, income oriented, long term analysis across sectors globally in developed markets. Please shoot us a message or leave a comment to discuss ideas.DISCLOSURE: All of our articles are a matter of opinion, informed as they might be, and must be treated as such. We take no responsibility for your investments but wish you best of luck.

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Comments (4)

Thanks for the article; is the 15% yield Free Cash Flow or Dividend?
Price Holland profile picture
Thanks for the informative article.
With a dividend of 26 cents and a dividend yield of 2.3% I believe there are many better alternatives in the Basic Materials industry if you prefer a high dividend yield.
Please let me know where your statement that 'Glencore's dividend is only second to Rio Tinto' is based upon?
For example BHP has a significant higher dividend yield.
@Price Holland Consensus estimates are 11.7% yield for 2022 and 10.6% for 2023. www.marketscreener.com/... In this article they are forecasting 15% and 14% respectively which is even better.
Bodipb profile picture
$20 please.
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