Our Algo Engine generated a buy signal recently in OZ Minerals, with the stock making a higher low at $8.80.
OZ Minerals key asset is a copper mine at Prominent Hill in South Australia. Further expansion in nearby mine at Carrapateena will start in late 2019.
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FY18 EBITDA will likely be around $550m and the stock trades on a forward yield of 2%.
We consider OZL a high risk opportunity and encourage investors to apply a stop loss on a break below $8.70.
