Deutsche Bank Analyst Rob Clifford says Glencore Xstrata PLC has high prospects for capital returns. Clifford says Glencore is in the process of selling Las Bambas, a high-growth copper mine in Peru, and has made it clear how it will use proceeds from the sale.
“The proceeds [from the Las Bambas sale], the company has previously said on number of occasions, would be used for three purposes: return to shareholders, company growth and balance sheet management,” Clifford says. “And return to shareholders would be taken very positively by the market, which there is still the big concern around not getting returns.”
FOR MORE INFORMATION ON THIS INTERVIEW CLICK HERE.
The big miners, Clifford says, have done a good job of trimming costs. But, he says none of them have returned a significant amount of cash to the market.
“So certainly, the first of the big miners to do that will be rewarded for that,” Clifford says. “I think it’s a pretty significant catalyst for that stock this year.”
Greencore Group plc (LON:GNC) Dominates in U.K. Ready-to-Eat Foods; U.S. Growth to Follow
August 16, 2013
Greencore Group plc (LON:GNC) Continues Dominance of Convenience Foods in U.K.; Enters U.S. Market Through Acquisitions
August 21, 2013
Roy Burton, CEO for Dialight Plc (LON:DIA), Presents at Canaccord Genuity Global Growth Conference
August 19, 2014
Fresnillo Plc (LON:FRES) a Low-Cost Producer Poised to Deliver Significant Growth
December 18, 2014
