Our ALGO engine triggered a buy signal in OZL at $8.60 on February 12th. Since then, the share price hit a high of $10.00 on February 27th.
OZ Minerals has a market cap of $2.793 billion. They primarily focus on exploration, development, mining and processing of projects within Australia.
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OZL are mainly focused on mining Copper and Gold, while holding ownership of the Prominent Hill mine in South Australia.
The company is largely debt-free while holding an overall cash balance of $729 million back in late December 2017.
We see good support at the $9.00 area and upside potential of $10.45 over the medium-term.
OZ Minerals
