I have a bone to pick with Glencore (LSE: GLEN) shares. They seem to have it out for me, wreaking havoc on my self-invested personal pension with their relentless performance. While they may not be the worst of the lot – Aston Martin and Ocado Group take the cake for that – Glencore’s antics have left me reeling with losses exceeding 30%. What have I done to deserve this treatment?
Glencore, as a FTSE 100 stock, has been the recipient of my unwavering support and praise. I’ve touted its resilience in the face of economic slowdowns, highlighted its potential for growth in commodity markets, and even turned a blind eye to the dwindling dividend yields. However, my efforts seem to have fallen on deaf ears as the Glencore share price continues its downward spiral, leaving me questioning my commitment to this mining giant.
The recent announcement by the Glencore board regarding a potential move of its primary London listing to New York has only added fuel to the fire. Despite hopes that this strategic shift would bolster the share price, it instead saw a sharp decline following the news. With an accompanying drop in annual core earnings and weaker coal prices, it appears that Glencore has some hurdles to overcome before it can win back the confidence of investors.
However, amidst the turmoil, there is a silver lining. The promise of increased dividends and buybacks in the near future offers a glimmer of hope for shareholders like myself. With plans to distribute billions in free cash flow to investors, Glencore seems to be making amends for its past shortcomings. While the road to recovery may be long and uncertain, these gestures of financial reward provide a beacon of stability in an otherwise turbulent investment landscape.
As I navigate the trials and tribulations of my Glencore investment, I am reminded that perseverance and patience are key virtues in the world of stock markets. While the share price may continue to test my resilience, the prospect of future dividends and returns is a reassuring reminder that all hope is not lost. So, as I weather the storm of uncertainty, I hold onto the belief that my faith in Glencore will eventually be rewarded.
