Maintaining GBX 50 Fair Value Estimate for Glencore Following Weak First-Half 2016 as Expected
With Glencore reporting poor first-half 2016 results as expected, we are maintaining our GBX 50 per share fair value estimate. Adjusted EBITDA declined 13% year on year to $4 billion, as commodity price declines negatively impacted industrial profits. While we have lowered our long-term thermal coal price forecast to $50 per metric ton from $67 per metric ton previously, the impact is offset by better-than-expected cost cuts.ÂThe company has seen slight improvement in marketing profits and furt...
Glencore is engaged as a natural resource companies. Co. is organized and operates on a worldwide basis in three main business segments: Metals and minerals, which comprised of zinc, copper, lead, alumina, aluminium, ferroalloys, nickel, cobalt and iron ore; Energy products, which comprised of crude oil, oil products, steam coal and metallurgical coal; and Agricultural products, which comprised of wheat, corn, canola, barley, rice, oil seeds, meals, edible oils, biofuels, cotton and sugar supported by investments in storage, handling, processing and port facilities.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.