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    GLEN   JE00B4T3BW64

GLENCORE PLC

(GLEN)
  Report
Delayed Quote. Delayed London Stock Exchange - 09/16 11:35:07 am
333 GBX   -2.17%
09/15GLENCORE : Board Appointment
PU
09/15Zambia Half-Year Copper Output Fell 4%
DJ
09/14GLENCORE : Moody's Revises Glencore Outlook to Stable on Fast Recovery from COVID-19 Impact; Ratings Maintained
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Glencore Cuts 2021 Guidance for Zinc, Nickel, Coal Output

07/30/2021 | 02:37am EDT

By Jaime Llinares Taboada

Glencore PLC on Friday cut full-year production guidance for zinc, nickel and coal production.

The natural-resources company reduced 2021 zinc guidance to 1.17 million metric tons from 1.25 million; the nickel forecast to 105,000 tons from 117,000 tons; and the coal guidance to 104 million tons from 113 million tons.

Conversely, ferrochrome production guidance has been upgraded to 1.43 million tons from 1.40 million tons, it said.

The group said it also expects 2021 earnings before interest and taxes from the marketing business at the top end of its long-term $2.2 billion-$3.2 billion guidance range.

Glencore said that its copper production rose 2% in the six months to June from the same period of 2020, to 598,000 tons.

Cobalt production increased 3% to 14,800 tons; zinc was up 6% at 581,800 tons; lead fell 9% to 117,000 tons; and nickel dropped 14% to 47,700 tons, it said.

Ferrochrome output rose 66% to 773,000 tons; gold rose 3% to 423,000 ounces; and silver increased 13% to 16.0 million ounces, it said.

As for energy, coal output declined 16% to 48.7 million tons, and oil production slipped 2% to 2.6 million oil-equivalent barrels, Glencore said.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

07-30-21 0236ET

Stocks mentioned in the article
ChangeLast1st jan.
GLENCORE PLC -2.17% 333 Delayed Quote.46.09%
GOLD -2.36% 1752.19 Delayed Quote.-4.96%
SILVER -4.11% 22.89 Delayed Quote.-9.47%
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Analyst Recommendations on GLENCORE PLC
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Financials (USD)
Sales 2021 206 B - -
Net income 2021 5 801 M - -
Net Debt 2021 29 572 M - -
P/E ratio 2021 6,93x
Yield 2021 6,35%
Capitalization 43 947 M 60 542 M -
EV / Sales 2021 0,36x
EV / Sales 2022 0,31x
Nbr of Employees 135 000
Free-Float 75,1%
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Technical analysis trends GLENCORE PLC
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TrendsBullishBullishBullish
Income Statement Evolution
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Mean consensus BUY
Number of Analysts 20
Last Close Price 3,33 $
Average target price 5,43 $
Spread / Average Target 63,1%
EPS Revisions
Managers and Directors
Gary Nagle Chief Executive Officer
Steven F. Kalmin Chief Financial Officer
Kalidas V. Madhavpeddi Chairman
Patrice E. Merrin Independent Non-Executive Director
Martin James Gilbert Senior Independent Director
Sector and Competitors