Hedge fund bet on Glencore backfires with $100 mln loss
For Lansdowne, that bet had generated returns in 2014 and 2015, when Glencore more than other major miners was dragged down by falling commodity prices and concerns about its level of debt. But so far this year, Glencore's shares have risen 29 percent, from 278 to 354 pence, making it the top-performing global miner. All had largely bailed out of the trade by July 2016, FCA data showed, avoiding a 68.1 percent bounce back in Glencore stock that year. A majority of analysts rate Glencore a buy, but analysts at Liberum boutique investment bank have downgraded the stock to sell from hold.
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