Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Glencore    GLEN   JE00B4T3BW64

GLENCORE (GLEN)
Mes dernières consult.
Most popular
  Report  
Real-time Quote. Real-time Cboe Europe - 07/23 03:28:49 pm
309.975 GBp   -0.54%
10:27aRosneft acknowledges shortcoming in 2016 stake sale funding
RE
07/19GLENCORE : Attractive price levels
07/17Smelting constraints make zinc's price plunge look overdone
RE
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Glencore : to cooperate with U.S. corruption investigation

share with twitter share with LinkedIn share with facebook
share via e-mail
0
07/11/2018 | 11:31am CEST
The logo of commodities trader Glencore is pictured in Baar

LONDON (Reuters) - Glencore Plc said on Wednesday it would cooperate with U.S. authorities after they demanded documents about the mining firm's business in Democratic Republic of Congo, Venezuela and Nigeria as part of a corruption investigation.

The company said it had set up a committee of board members, including Chairman Tony Hayward and independent non-executive directors Leonhard Fischer and Patrice Merrin, to oversee its response to the subpoena from the Department of Justice (DoJ).

"The company will cooperate with the DoJ, while continuing to focus on our business and seeking to maximise the value we create for our diverse stakeholders in a responsible and transparent manner," Hayward said.

"Glencore takes ethics and compliance seriously throughout the group," the chairman said.

Switzerland-based Glencore received a subpoena from the DoJ last week requesting documents and records on compliance with the U.S. Foreign Corrupt Practices Act and money-laundering statutes.

The U.S. Foreign Corrupt Practices Act makes it a crime for companies to bribe overseas officials to win business.

The DOJ has so far not commented on the request.

Glencore shares had fallen 4.2 percent to 313.29 pence by 0921 GMT, down 20 percent since the start of 2018 and close to one-year lows. The stock suffered its biggest one-day fall in more than two years after the subpoena announcement last week.

Responding to the share fall, Glencore announced a buy back worth $1 billion (755.12 million pounds) in an effort to soothe investors.

Some analysts say the U.S subpoena could be a result of Glencore settling a mining row in Congo with Israeli billionaire Dan Gertler, under U.S. sanctions since last year, by agreeing to pay royalties in euros.

Congo accounts for about 25 percent of Glencore's net present value, analysts said, adding that Venezuela and Nigeria's contribution was negligible. The firm mines cobalt in Congo, a key metal used to make batteries for electric vehicles.

(Reporting by Arathy S Nair in Bengaluru and Julia Payne in London; Editing by Patrick Graham and Edmund Blair)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GLENCORE
01:28pGLENCORE PLC : Pomerantz Law Firm Reminds Shareholders with Losses on their Inve..
AC
10:27aRosneft acknowledges shortcoming in 2016 stake sale funding
RE
07/21GLENCORE PLC : Pomerantz Law Firm Reminds Shareholders with Losses on their Inve..
AC
07/20GLENCORE : plc Alert: Pawar Reminds of Important September 7, 2018 Lead Plaintif..
AC
07/18GLENCORE PLC : Pomerantz Law Firm Reminds Shareholders with Losses on their Inve..
AC
07/18GLENCORE PLC : NOTICE: Pawar Law Group Announces a Securities Class Action Lawsu..
AC
07/17Smelting constraints make zinc's price plunge look overdone
RE
07/17GLENCORE : PLC STOCKHOLDER ALERT: Kaskela Law LLC Announces Shareholder Class Ac..
AC
07/14GLNCY, GLCNF NOTICE : Pawar Reminds of Important September 7, 2018 Lead Plaintif..
AC
07/14GLENCORE PLC : Pomerantz Law Firm Reminds Shareholders with Losses on their Inve..
AC
More news
News from SeekingAlpha
07/18Is The LME Warehouse System In Crisis? 
07/11Former BP CEO to lead Glencore?s response to DoJ subpoena 
07/11Copper's Bullish Pattern Gives Way 
07/11Glencore Finds Itself Under The Department Of Justice Microscope 
07/09Round 2 With The Justice Department For Glencore 
Financials ($)
Sales 2018 239 B
EBIT 2018 11 165 M
Net income 2018 7 139 M
Debt 2018 22 467 M
Yield 2018 5,00%
P/E ratio 2018 8,49
P/E ratio 2019 8,90
EV / Sales 2018 0,34x
EV / Sales 2019 0,33x
Capitalization 59 034 M
Chart GLENCORE
Duration : Period :
Glencore Technical Analysis Chart | 4-Traders
Full-screen chart
Technical analysis trends GLENCORE
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 5,74 $
Spread / Average Target 40%
EPS Revisions
Managers
NameTitle
Ivan Glasenberg Chief Executive Officer & Executive Director
Anthony Bryan Hayward Non-Executive Chairman
Steven F. Kalmin Chief Financial Officer
Peter Roland Coates Non-Executive Director
Leonhard Heinrich Fischer Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
GLENCORE-20.09%59 452
CHINA SHENHUA ENERGY COMPANY LIMITED-25.21%49 497
COAL INDIA0.42%23 581
SHAANXI COAL INDUSTRY CO LTD-9.93%10 861
CHINA COAL ENERGY COMPANY-18.53%7 895
YANZHOU COAL MINING CO LTD-21.28%7 227