Pre-market trading started yesterday (19-05-11), but full market trading to start next week, Tuesday as it now stands (could change). 530p the float price.

Chart to come when I get it, and any other updates/corrections that I happen to spot.

Sept 23: Liberum: Hold - TP: 300p

Sept 30:

Credit Suisse: Neutral - TP: 380p
Deutsche Bank : Buy - TP: 414p
Goldman Sachs: Neutral - TP: 325p
Barclays: Overweight - TP: 420p

Glencore suspends Zambia copper projects

Glencore merger rejected by Rio

Oct 7:
JP Morgan: Neutral - TP: 370p
Credit Suisse: Neutral - TP: 380p
Exane BNP... Outperform - TP: 460p
Deutsche Bank: Buy - TP: N/A
Jefferies: Buy - TP: 430p
Citigroup: Buy - TP: 390p

Nomura note:
"After several years of weakening fundamentals for seaborne thermal coal markets, we believe markets are entering a new phase of modestly rebalancing. Major mine expansions in Australia are set to conclude over the next year and new impediments on Indonesian exports could tighten the supply side. On the demand side, we expect Indian economic reforms to push the country to increase thermal coal imports nearly 60% by CY18, leapfrogging China as the largest seaborne importer. However, with Chinese government initiatives to cut domestic mined output unlikely to be successful in the long run, and with thermal coal power generation additions set to diminish, we do not expect the country’s thermal coal deficit to significantly widen.
Marginal cost support falling; lowering near- and medium-term Newcastle thermal coal price forecasts, long-run forecast cut to USD 80/t. Nevertheless, we doubt that miners will be able to retake meaningful pricing power in any market rebalancing. China’s marginal dependence on imports and practical difficulty in Indian utilities’ to fully pass through higher imported coal costs in the form of higher power tariffs will likely keep prices low or lead to significant demand destruction for imported thermal coal, in our view.
Additionally, the rapid declines in many coal producing countries’ currencies continues to depress marginal cost support for the industry. We estimate that the 90th percentile of the seaborne cost curve has fallen by ~12% to cUSD 80/tonne since 2012. Therefore, we downgrade our Newcastle price forecasts over the next three years by ~17% (~13% below consensus) and our long-run price forecast to USD 80/tonne from USD 90/tonne previously.
RUB weakness compressing margins for Australian producers Furthermore, the particular weakness of the Russian rouble further threatens marginal cost support, as Siberian exporters represent the marginal producers in the seaborne market. This stands an acute risk for the next major country down on the curve, Australia, as at spot FX rates we estimate there is only a USD ~3/tonne difference between the two countries’ average cost positions. Thus, continued RUB weakness will likely threaten further margin compression for Australian thermal coal producers.
Glencore most exposed; downgrade to Reduce, TP 300p Glencore (GLEN) stands out as the most exposed to thermal coal among the global diversified miners, with a 10% change in thermal coal prices affecting CY15 EPS by 13%, on our estimates. Additionally, we expect the potential return for a bid for RIO will likely remain an overhang in the near term and could diminish the market’s hopes for cash returns. We have cut our GLEN CY15-16 EPS forecasts by ~21% and now sit ~19% below consensus. Therefore, we downgrade GLEN to Reduce from Neutral and cut our TP to 300p from 330p. We remain cautious on the European mining space."

Dec 11:

Credit Suisse: Neutral - TP: 380p
Canaccord: Buy - TP: 390p
Citigroup: Buy - TP: 390p
JP Morgan: Neutral - TP: 350p
Jefferies: Buy - TP: 375p
Deutsche Bank: Buy - TP: 399p

Feb 23; UBS: Buy - TP: 350p (Upgrade)

got out too quick :(

I think it is good time to get back in, IMO.
Anyone else?

Ahoy,

I thought that too long ago.

But still hope live in hope.

July 10: HSBC: Buy - TP down from 365p to 360p

Glencore glued to record low

Glencore' unveils plans to slash debt

StockMarketWire.com

Glencore has announced a fully committed proposed equity capital raising of up to US$2.5bn alongside additional capital preservation / debt reduction measures.

Taken together, they have an aggregate value of up to US$10.2bn, and certain other portfolio optimisation and cost reduction actions, with the objective of reducing net debt to the low US$20s billion by the end of 2016.

Highlights:

· A proposed equity issuance of up to US$2.5 billion to reduce indebtedness and increase financial strength;

- 78 per cent. of the proposed equity issuance underwritten by Citi and Morgan Stanley; and

- commitments from Glencore senior management (including CEO, CFO and several Board members) to take up the remaining 22 per cent. of the proposed equity issuance.

· Additional measures with a value of up to US$7.7 billion to be implemented between now and the end of 2016, including:

- approximately US$1.6 billion to be saved from the suspension of the 2015 final dividend, intended to do so in the current commodity environment;

- approximately US$800 million to be saved from the suspension of the 2016 interim dividend, intended to do so in the current commodity environment;

- approximately US$1.5 billion to be generated from further reduction in working capital;

- approximately US$2.0 billion to be raised from the sale of assets, including, but not limited to, proposed precious metals streaming transaction(s) and the minority participation of 3rd party strategic investors in certain of Glencore's agriculture assets, including infrastructure;

- US$500 million to US$800 million to be generated from a reduction in long-term loans and advances made by Glencore (c.US$4 billion at 30 June 2015); and

- US$500 million to $1.0 billion to be saved from an additional reduction in industrial capital expenditure to the end of 2016.

· Ongoing focus on portfolio optimisation and reduction of operating expenditures:

- operations at Katanga and Mopani are under review and in the process of suspending certain African production until the completion of the remaining cost-transforming projects which are on schedule to be completed by the first half of 2017. An 18 month suspension will remove approximately 400,000 tonnes of copper cathode from the market.

Assuming that the weak copper price is due to supply being stronger than demand, removing two mines' production from the market should benefit the remaining miners. KAZ and VED.....amongst others.

ANTO is surely a better copper stock if you insist on having one

I do!........though definitely not GLEN.

A bit here.

"This may not be the low, but it cannot be too far away. The 75% decline since IPO is also very close to the Fibonacci 78% level, which represents solid support."

Your right HARRY ,removing 400 000 tons of copper from the market could be good.
At present i have only bought and sold KAZ a few times .

Credit Suisse Outperform 131.40 235.00 235.00 Reiterates

Exane BNP Paribas Outperform 131.40 250.00 250.00 Reiterates

Jefferies International Hold 131.40 170.00 170.00 Reiterates

Deutsche Bank Hold 131.40 265.00 265.00 Retains

Citigroup Buy 131.40 210.00 190.00 Reiterates

Copper moved back up above $235 from 227 last week rising smoothly.