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OZL - Citi rates the stock as Buy
BY BROKER NEWS - 13/03/2018 | VIEW MORE BROKER UPDATES

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OZL - OZ MINERALS LIMITED


The company plans to commission a new high voltage line to its Prominent Hill and Carrapateena mines. This will travel parallel with the existing line owned by BHP ((BHP)) which OZ Minerals will stop using in August 2020. Citi observes the announcement goes some way to clarifying a key risk to the company's SA copper production.

Part of the new construction includes a connection to the SolarReserve Aurora thermal power array and Citi notes the company clearly expects renewables to be part of the future supply arrangement.

Citi maintains a Buy rating and $11.10 target.

Sector: Materials.

Target price is $11.10.Current Price is $9.40. Difference: $1.70 - (brackets indicate current price is over target). If OZL meets the Citi target it will return approximately 15% (excluding dividends, fees and charges - negative figures indicate an expected loss).



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The content of this information does in no way reflect the opinions of FN Arena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FN Arena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface. This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FN Arena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.

 

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