Our Algo Engine generated a buy signal recently in OZL, the stock is a current holding within our ASX100 model. We see current share price support near $8.50.
OZL announced its 1HCY18 earnings last week, with revenue reported at $534m, EBITDA $290m and net earnings $220m.
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The numbers were slightly below market expectations, however, diversification of its future production base and extended mine life extensions at Prominent Hill, should underpin future earnings growth.
On a forward basis, we have OZL trading on a 2.5% yield into FY19.
