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LON:GLEN

Glencore PLC

BUY Analysis generated 2026-10-04 Market data as of 2026-11-13 Market data 2 days old 509.06p Basic Materials - Industrial Materials
ACTIONABLEMethodology gates passed
65

Position levels

Currenttoday
509.06p
Buy <=wait / entry
-
Trim >=take some off
-
Thesis breaknot set
-

Scenario-weighted conviction

ProbabilityScoreContribution
Bull case33%100 / 10033.0
Base case48%62 / 10029.8
Bear case19%10 / 1001.9
Weighted conviction65 / 100 - BUY

Top risks

  • M&A activity with restarted merger talks with Rio Tinto
  • Strong H1 2026 earnings with Group Adjusted EBITDA up 86% to $10.1 billion and net income of $4.4 billion
  • RIGI approval for Agua Rica (MARA) and NSW approval for Hunter Valley Operations (HVO)
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Research is for informational purposes only. Not financial advice. All analysis reflects the date of publication.

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