Glencore is well-positioned for a commodity supercycle through its trading arm and copper-cobalt assets, but its sizable thermal-coal exposure creates a persistent ESG overhang that weighs on the multiple. Congo cobalt operations add political and jurisdiction risk. Negative governance and coal-divestment signals support a reduced posture.
Thesis reviewed May 29, 2026
Glencore plc (ADR) is headquartered in Switzerland, which is currently showing elevated risk signals.
🇨🇭Switzerland74NEUTRALView Switzerland risk detail →⛏Mining6WATCH| Ticker | Company | Score | Gap | Signal Δ | Action |
|---|---|---|---|---|---|
| RIO | Rio Tinto plc | 15 | +10% | ↓53% | EARLY |
| AG | First Majestic Silver Corp. | 15 | +13% | ↓53% | EARLY |
| NEM | Newmont Corporation | 15 | +10% | ↓53% | EARLY |
| SAND | Sandstorm Gold Royalties Ltd. | 15 | +10% | ↓53% | EARLY |
| GOLD | Barrick Gold Corporation | 15 | +11% | ↓53% | EARLY |
| CX | CEMEX S.A.B. de C.V. | 15 | +5% | ↓53% | NEUTRAL |
| FM | First Quantum Minerals Ltd. | 15 | -7% | ↓53% | AVOID |
Investors who hold GLNCY may also have indirect exposure through these country funds.
Thermal coal exposure keeps ESG discount on Glencore equity
Congo cobalt operations face political and jurisdiction risk
Estimates · Yahoo Finance · Not audited figures