OZL - Oz Minerals

[notting]

After the insanity of paying a 20c dividend per year whilst losing $294.4 million last year!

It now makes $48.5 million profit beating $42.85 million guidance on the back of improved production at the Prominent Hill, after a long period of mining through low grade materials, achieved despite the copper price slumping by more than 20 per cent in recent months!

Well done!
And the new boss cancels the dividend.
That's how you turn around a company!
Market trashes it because it was expecting a dividend - fair enough.
Got out of my short!

 

[notting]

Got out of my short!

It was around $4 then.
Looking a little toppy in the face of copper and a possible turn in gold at 5.78.

 

[stockGURU]

Oz Minerals holding up well despite a 43 per cent drop in half-year profit. Currently up around 1% from yesterday's close.

http://www.news.com.au/finance/busi...3/news-story/4946b50b3b18ebba127f36848f67ac8a

 

[pixel]

Oz Minerals holding up well despite a 43 per cent drop in half-year profit. Currently up around 1% from yesterday's close.

http://www.news.com.au/finance/busi...3/news-story/4946b50b3b18ebba127f36848f67ac8a

It seems to have lifted in anticipation of improved copper prices. ... and could rise further if the current pennant/ flag pattern plays out "by the book".

 

[Younga]

My point and figure chart has given a sell signal for OZL. However, I think there's still good potential in the stock. What are your views?
Disclaimer - holding OZL calls.

 

[rederob]

Today OZL closed at its highest since March 2012.
Target I am looking at is $16 before year's end.
Copper: Comex warehouses have had 30K tonnes removed this month, while LME have only lost 5K tonnes. Should US/China trade talks get some traction then drawdowns will gather even greater pace.
OZL's Carrapateena is one of Australia’s largest undeveloped copper deposits - a 4.25 Mtpa underground operation with an estimated mine life of 20 years - and production begins when copper prices are expected to be much higher in 2020.
Meanwhile Prominent Hill is knocking out copper at about US$1.20/lb (AISC) while spot prices are averaging around $2.80/lb. Its mine life has also been extended to 2030 and its gold production guidance has been increased.
It seems to have re-emerged from Oxiana's ashes more diversified and capable than ever.
Buy the dips when you get a chance!

 

[rederob]

My tip for the March comp - I reckon $11.50 should get hit, and a chance at $12 if LME inventories continue to suffer.

 

[rnr]

Has OZL finally stopped its downward move? Although my knowledge of EW is very limited the chart definitely shows, what I believe to be, a 5 wave move down. From here we should be looking for an a-b-c wave higher.

 

[peter2]

Not many posts on this copper producer even when the price of copper has rallied hard since the COVID selloff. You can see the the stronger copper price rally in the OZL chart.

I've earned a small parcel of OZL as one of my spec positions (CZI) was taken over by OZL. I'll place an exit stop at 13.00 and "let it ride". Actually what will really happen is that I'll sell OZL and use the cash to buy another spec. Am I too late for the rare earths party?

 

[tinhat]

Not many posts on this copper producer even when the price of copper has rallied hard since the COVID selloff. You can see the the stronger copper price rally in the OZL chart.

I've earned a small parcel of OZL as one of my spec positions (CZI) was taken over by OZL. I'll place an exit stop at 13.00 and "let it ride". Actually what will really happen is that I'll sell OZL and use the cash to buy another spec. Am I too late for the rare earths party?

View attachment 112781

Me too. Got my OZL through the CZI takeover. I'm happy to ride along for the long term as my cost base is negligible compared to the current share price.

I'm bullish copper long term and OZL have great assets and decent management. I'd like to keep some ownership on West Musgrave just to write on my tombstone that I was there when BHP lost the plot over Nickel. [ when it was run by a South African weirdo who didn't like the smell of curry in the office microwave - anal retentive much?]

 

[rederob]

Copper all-time high was $4.58/lb in February 2011, when OZL's last peak was achieved.

 

[rederob]

Up 7% today.
Copper prices going crazy on supply shortages.
The horizon is not in view.

Hard not to see the previous record copper price not being hit again, and that gets OZL to around $30.

 

[systematic]

Hard not to see the previous record copper price not being hit again, and that gets OZL to around $30.

Sounds great to me, hope you're right! I had a trade in 2018 (lost around 10%). Got back in around $14.80 last November

 

[rederob]

Up well over 10% in past 2 months:

Long term resistance at $26 about to be threatened.
No idea how long copper prices will run, but as OZL now does well from gold, the two pronged price attack suggests OZL's 2007 record price will likely fall.

 

[rederob]

OZL's quarterly report released today was not awe inspiring.
Higher sustaining costs and weaker gold prices have lowered OZL's expectations.
OZL still has about 40koz of gold hedged at an average price of $1784/oz, which is around $500/oz out of the money.
On the upside, copper prices are now, on average, around 20% higher than the March quarter.
Given OZL expects the next quarter to all round improve, it's share price should remain steady over the period.

 

[rederob]

If gold prices hold up overnight then OZL should crash through $26 on Monday:

Ultimate target price is $42.80 which was OZL's record close in November 2007.

 

[Sean K]

Anyone buy this in March 2020? Looks like it's falling over a little bit. Copper and gold are going up aren't they?

 

[sptrawler]

Just my luck, I had them for about 10 years and eventually lost patience, sure enough off they go.?

 

[barney]

Just my luck, I had them for about 10 years and eventually lost patience, sure enough off they go.?

Its hard to hold when the picture doesn't fit into the frame anymore @sptrawler, as we all know

OZL chart wise has been a picture of joy for long term Shareholders as @kennas has pointed out

Personally, I have no idea how to value an $8 Billion dollar Company

Fair dinkum, a couple of my Stocks are valued at over $200 million and I am potentially having a stress attack, lol

Just on the Chart picture alone, there was a lot of Volume down to that recent $23.50 low.

Under that level may need some closer attention for anyone with a "short term" position

$8 Billion !! If VML ever gets to a 1 (one) Billion MC, I will be slightly beside myself, lol ...

 

[sptrawler]

I bought at $7 from memory and they ranged forever, so sold them a few years back, today when I saw them on the forum checked the asx price $25. I nearly had a seizure. ?