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Posted by
Two Blokes Jul 7 -
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Stock
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Jefferies has reiterated its 'buy' rating on Glencore PLC (LSE:GLEN), arguing that even after absorbing its Elk Valley Resources (EVR) acquisition, the group's shares do not fully reflect the underlying value of its coal and base-metals businesses. Despite a softer met-coal price environment since July 2024, Jefferies' site visit to EVR's Canadian mines and port confirmed that integration has proceeded smoothly and that EVR sits at the top of the global met-coal margin curve on quality, costs and reserve life.
