Glencore: Initiation of Coverage – Strategic Asset Sales, U.S. Listing Buzz, & Copper Ambitions Fueling Our BUY Rating! 

Glencore PLC’s 2024 financial results reflect a robust operational year, with the company reporting an adjusted EBITDA of $14.4 billion, indicating strong performance across its industrial and marketing segments. The industrial segment achieved an adjusted EBITDA of $10.6 billion, primarily driven by a healthy metals business despite challenging conditions in the metallurgical market. The recent integration of the EVR coal business contributed significantly, adding $1 billion to EBITDA in the latter half of the year.