ALGO Update: Stay Long Oz Minerals

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

 

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