Glencore (GLEN)

Sector:

Mining

Index:

FTSE 100

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278.00p
   
  • Change Today:
      8.00p
  • 52 Week High: 387.15p
  • 52 Week Low: 254.65p
  • Currency: UK Pounds
  • Shares Issued: 13,694m
  • Volume: 46,949,126
  • Market Cap: £38,068m
  • Beta: 0.02

Glencore being investigated by US commodities regulator

By Michele Maatouk

Date: Friday 26 Apr 2019

LONDON (ShareCast) - (Sharecast News) - Glencore shares fell on Friday after it announced that it is being investigated by the US Commodity Futures Trading Commission (CFTC) over possible corrupt practices that may have led to the violation of some regulations.
"Glencore understands that the CFTC's investigations are at an early stage and have a similar scope in terms of subject matter as the current ongoing investigation by the US Department of Justice," it said in a statement after the close on Thursday.

The Swiss commodity trader and miner said it will cooperate with the US commodities regulator and its response will be managed by its Investigations Committee, which was set up in July 2018 to oversee the company's response to the investigation by the DoJ.

RBC Capital Markets said: "Without having any special insight on the DoJ investigation, or now the CFTC investigation, the potential impact on Glencore shares remains uncertain as the company works towards a settlement. A link between this investigation and the CFTC investigation, based on recent comments from the Director of Enforcement James McDonald, suggest that this is likely an extension of the current DOJ investigation on Glencore's adherence to the US Foreign Corrupt Practices Act. There is no known timeline for completion.

"This will not help the recently recovering sentiment from investors around Glencore shares but we are not sure that this extension, other than potentially expanded scope, really changes anything. We believe that GLEN, trading at an average 4.5x 2019-20e EV/EBITDA, continues to price a significant discount to Rio Tinto and BHP on 7.7x, in a large part owing to the current investigation.

"We continue to see good long-term value in GLEN shares but weaker coal markets and the lingering impact from the investigation are unlikely to allow for a re-rating in the near-term."

At 0935 BST, the shares were down 3% at 311.85p.

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Glencore Market Data

Currency UK Pounds
Share Price 278.00p
Change Today 8.00p
% Change 2.96 %
52 Week High 387.15p
52 Week Low 254.65p
Volume 46,949,126
Shares Issued 13,694m
Market Cap £38,068m
Beta 0.02

Glencore Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
93.24% above the market average93.24% above the market average93.24% above the market average93.24% above the market average93.24% above the market average
82.76% above the sector average82.76% above the sector average82.76% above the sector average82.76% above the sector average82.76% above the sector average
Price Trend
40.87% below the market average40.87% below the market average40.87% below the market average40.87% below the market average40.87% below the market average
14.73% above the sector average14.73% above the sector average14.73% above the sector average14.73% above the sector average14.73% above the sector average
Income
68.07% above the market average68.07% above the market average68.07% above the market average68.07% above the market average68.07% above the market average
66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average
Growth
3.49% below the market average3.49% below the market average3.49% below the market average3.49% below the market average3.49% below the market average
8.2% below the sector average8.2% below the sector average8.2% below the sector average8.2% below the sector average8.2% below the sector average

What The Brokers Say

Strong Buy 14
Buy 1
Neutral 7
Sell 0
Strong Sell 0
Total 22
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Glencore Dividends

  Latest Previous
  Special Special
Ex-Div 05-Sep-19 25-Apr-19
Paid 24-Sep-19 23-May-19
Amount 10.00¢ 10.00¢

Trades for 18-Jun-2019

Time Volume / Share Price
17:12 429,480 @ 277.98p
17:12 105,378 @ 277.98p
17:12 51,351 @ 277.98p
17:12 208,540 @ 277.98p
16:38 365,000 @ 278.00p

Glencore Key Personnel

CEO Ivan Glasenberg

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