Market's view on Glencore
Published on April 2024
- Concerns are noted about potential stagflation in the USA, with an inability to drop rates and a looming recession.
- There is speculation about a possible bid from BHP for GLEN with a 30% premium, although concerns are raised about shareholder approval due to possible share price dilution.
- Copper prices are observed to be high, last matching their peak in 2022, with expectations that GLEN’s share price should benefit.
- GLEN is advised to focus on integrating a recent coal acquisition rather than entering a bidding war for AAL.
- Stock watchers are monitoring tech sector rotations impacting stock prices and express surprise at GLEN’s share price not increasing despite favourable conditions.