Glencore's stock climbs amid stake sale, labour disputes and executive awards
Glencore has seen a recent rise in its share price, climbing from €5.92 on 9 March to €6.04 on 11 March. The increase follows several key developments, including a major stake sale, executive share awards, and ongoing labour disputes. Investors are now watching how these factors will shape the company's near-term performance.
On 9 March, CEO Gary Nagle received around 1.5 million share units under Glencore's Career Shares Plan. Valued at a weighted average of £5.02 per share, the award coincided with a broader upward trend in the company's stock. The price briefly spiked to €12.00 on one exchange the following day before settling near €6.04, approaching its 52-week high of £5.46.
Meanwhile, Glencore is negotiating the sale of its 70% stake in Kazakh miner Kazzinc. Local entrepreneur Shakhmurat Mutalip is set to buy the stake for between $4 billion and $4.5 billion. Reports suggest Glencore may help finance the deal in exchange for marketing rights to Kazzinc's zinc and gold output. The company's financial outlook remains mixed. Adjusted EBITDA for 2025 reached $13.5 billion, with the second half outperforming the first by 49% due to higher copper prices. Yet its Townsville copper refinery continues to operate at a loss, adding pressure as workers stage protests. A four-hour strike took place last week after wage talks stalled, with the Australian Workers' Union accusing Glencore of disguising a modest 3% pay rise over four years by including a one-off bonus. Looking ahead, Glencore has proposed a total dividend of 17 cents per share for 2026, split into two payments in June and September. The outcome of the Kazzinc deal and the Townsville wage dispute will likely influence investor sentiment in the coming weeks.
Glencore's stock has gained 28% over the past year, supported by rising copper prices and strategic moves like the Kazzinc sale. However, challenges such as the Townsville refinery's losses and labour tensions could impact future performance. The company's next steps will determine whether the recent momentum continues.
