Glencore to sell Ernest Henry mine in Queensland in $730M deal

  • Glencore (OTCPK:GLCNF, OTCPK:GLNCY) agrees to sell its 70%-owned Ernest Henry Mining copper-gold mine in Queensland to Australia's Evolution Mining for A$1B (~US$730M).
  • Glencore had sold a 30% interest in Ernest Henry to Evolution in 2016, forming a joint venture; Evolution now will take full ownership and operatorship of the mine.
  • The companies say the deal includes an offtake agreement for Glencore to buy all copper concentrate produced at the mine.
  • Glencore says the sale will increase its focus on other lower-cost, long-life copper assets in Africa and South America.

    For this year Glencore 's (located in Baar) revenue will be around 217.97 billion GBp. This is according to the average of the analysts' estimates. This is quite more than 2021's revenue of 142.34 billion GBp.

    Historical revenues and results Glencore plus estimates 2021

    fundamantele data

    The analysts expect for 2021 a net profit of 7.7 billion GBp. For this year the consensus of the result per share is a profit of 69 GBp. The PE-ratio therefore is 5.35.

    Huge dividend Glencore

    Per share the analysts expect a dividend of 23 GBp per share. Glencore 's dividend yield thus equals 6.23 percent. The average dividend yield of the mining companies is a low 0.81 percent.

    Glencore 's market capitalization is based on the number of outstanding shares around 4874.64 billion GBp. 96

    At 12.27 the stock trades 0.19 percent lower at 369.45 GBp.

    Historical stock prices Glencore

    stock analysis glencore

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