Glencore PLC
GLEN: XLON (GBR)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| Qjd | LOCK|&y$ | LOCK|!>QLCz |
Glencore's Fair Value Estimate Increased by 4%
Business Strategy and Outlook
Glencore ranks among the most diversified of the large global miners. Though as China is the key demand driver for much of what Glencore mines, diversification benefits are limited. However, its marketing business (roughly 30% of forecast midcycle group EBITDA from 2030) should be relatively resilient to changes in China’s rate of economic growth.
