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Is OZ Minerals (OZL) a buy?

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    Is OZ Minerals (OZL) a buy?

    Given the current price of copper, and not owning OZ minerals at the moment - is it a buy? Many thanks

    Answer

    Hi Sandra,

    OZ Minerals (OZL) is currently more of a situation play as opposed to copper per se because its under a takeover bid from BHP Group (BHP) at $25 – the current share price above $26 is already building in the prospect of a higher bid which brings with it risks.

    For a copper play in todays market we now like Sandfire Resources (SFR) which we purchased for our Emerging Companies Portfolio on Wednesday looking to add into further weakness, ideally under $3.50.

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