OZ Minerals was recently added into our ASX 100 model portfolio.
We’re mindful of the selling pressure base metal prices have been under since the beginning of last month, with copper and nickel prices down 8% and 9%, respectively.
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Commissioning of the Carrapateena mine later this year remains a key near-term catalyst to help support the OZL share price. On a valuation basis, we have OZL trading 10x FY20 earnings on a 2.4% dividend yield.
The company goes ex-div $0.08 on the 31st August.
