A director at OZ Minerals Limited bought 5,000 shares at 24.500AUD and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years cl...
The independent financial analyst theScreener just downgraded the general evaluation of OZ MINERALS (AU), active in the General Mining industry. As regards its fundamental valuation, the title loses a star(s) and now shows 0 out of 4 stars. Its market behaviour is also negatively reassessed and may be considered as risky. theScreener believes that this double requalification keeps the title under pressure and justifies an overall rating downgrade to Slightly Negative. As of the analysis date Feb...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
US Dollar Breakdown Bullish For Risk Sentiment Global indexes including the MSCI ACWI and ACWI ex-US are following in the MSCI EM index's footsteps by breaking to new highs. This is bullish and signals a new leg higher is underway. Additionally, the US dollar is showing signs of a breakdown, something we view as a positive for global risk sentiment as long as the decline continues to be orderly. Overall our outlook remains bullish and we suggest buying any dips. · US Dollar (DXY) Brea...
No-moat Oz Minerals’ second quarter provided more data points to support our positive view of management. Prominent Hill production was strong, potentially tracking to better 2019 guidance. The development of Carrapateena is importantly on budget and schedule. It grows output and extends life while preserving low operating costs similar to Prominent Hill’s. All of this helps support our key assumptions and our unchanged AUD 11 per share fair value estimate. With weaker base metals prices, an...
No-moat Oz Minerals’ second quarter provided more data points to support our positive view of management. Prominent Hill production was strong, potentially tracking to better 2019 guidance. The development of Carrapateena is importantly on budget and schedule. It grows output and extends life while preserving low operating costs similar to Prominent Hill’s. All of this helps support our key assumptions and our unchanged AUD 11 per share fair value estimate. With weaker base metals prices, an...
Iron ore and gold prices are flying but we don’t think either will last. Iron ore is benefiting from unusually strong demand and supply disruptions while gold is rising with negative interest rates. The global miners remain overvalued. The sector trades at an average 10% premium to our fair value estimates, versus a 20% premium three months ago. The iron ore miners--BHP, Rio Tinto, Fortescue and Vale, on average are at a 30% premium, while the rest of our coverage is only at a 4% premium. The ...
Iron ore and gold prices are flying but we don’t think either will last. Iron ore is benefiting from unusually strong demand and supply disruptions while gold is rising with negative interest rates. The global miners remain overvalued. The sector trades at an average 10% premium to our fair value estimates, versus a 20% premium three months ago. The iron ore miners--BHP, Rio Tinto, Fortescue and Vale, on average are at a 30% premium, while the rest of our coverage is only at a 4% premium. The ...
Iron ore and gold prices are flying but we don’t think either will last. Iron ore is benefiting from unusually strong demand and supply disruptions while gold is rising with negative interest rates. The global miners remain overvalued. The sector trades at an average 10% premium to our fair value estimates, versus a 20% premium three months ago. The iron ore miners--BHP, Rio Tinto, Fortescue and Vale, on average are at a 30% premium, while the rest of our coverage is only at a 4% premium. The ...
Shares in no-moat-rated Oz Minerals have sold off recently, declining to AUD 9.50 per share from highs around AUD 11 in April 2019. The sell-off probably reflects weakness in base metals prices and concerns around global trade. While iron ore has been shielded from the economic concerns due to tight supply, the prices of copper, nickel, and zinc have all sold off by about 10% in the past few months. Oz Minerals shares fell in sympathy and that provides an opportunity. We make no change to our ne...
Shares in no-moat-rated Oz Minerals have sold off recently, declining to AUD 9.50 per share from highs around AUD 11 in April 2019. The sell-off probably reflects weakness in base metals prices and concerns around global trade. While iron ore has been shielded from the economic concerns due to tight supply, the prices of copper, nickel, and zinc have all sold off by about 10% in the past few months. Oz Minerals shares fell in sympathy and that provides an opportunity. We make no change to our n...
Shares in no-moat-rated Oz Minerals have sold off recently, declining to AUD 9.50 per share from highs around AUD 11 in April 2019. The sell-off probably reflects weakness in base metals prices and concerns around global trade. While iron ore has been shielded from the economic concerns due to tight supply, the prices of copper, nickel, and zinc have all sold off by about 10% in the past few months. Oz Minerals shares fell in sympathy and that provides an opportunity. We make no change to our n...
Shares in no-moat-rated Oz Minerals have sold off recently, declining to AUD 9.50 per share from highs around AUD 11 in April 2019. The sell-off probably reflects weakness in base metals prices and concerns around global trade. While iron ore has been shielded from the economic concerns due to tight supply, the prices of copper, nickel, and zinc have all sold off by about 10% in the past few months. Oz Minerals shares fell in sympathy and that provides an opportunity. We make no change to our ne...
Steel-making materials stocks, those exposed to iron ore and coking coal, have markedly outperformed our near-term expectations. The key reasons have been continued strong steel demand growth, particularly in China, and more recently, Vale’s tragic tailings dam failure and Cyclone Veronica. Iron ore supply losses this year are material, about 6% of global iron ore supply and some of that will bleed into 2020. Coking coal supply has also been impacted in the near-term through increased safety i...
Steel-making materials stocks, those exposed to iron ore and coking coal, have markedly outperformed our near-term expectations. The key reasons have been continued strong steel demand growth, particularly in China, and more recently, Vale’s tragic tailings dam failure and Cyclone Veronica. Iron ore supply losses this year are material, about 6% of global iron ore supply and some of that will bleed into 2020. Coking coal supply has also been impacted in the near-term through increased safety i...
Steel-making materials stocks, those exposed to iron ore and coking coal, have markedly outperformed our near-term expectations. The key reasons have been continued strong steel demand growth, particularly in China, and more recently, Vale’s tragic tailings dam failure and Cyclone Veronica. Iron ore supply losses this year are material, about 6% of global iron ore supply and some of that will bleed into 2020. Coking coal supply has also been impacted in the near-term through increased safety i...
Oz Minerals is looking to expand its Carrapateena mine. The expansion would see the planned mining rate to nearly triple to 10 to 12 million tonnes a year from 2026 versus the base case 4.25 million tonnes. The bulk underground mining method of block caving, as used at Newcrest’s Cadia East mine, would increase ore volumes, lower unit costs and exploit a larger portion of the resource. Copper sales would almost double to 105,000 to 125,000 tonnes a year, from the base case of about 65,000 tonn...
Oz Minerals is looking to expand its Carrapateena mine. The expansion would see the planned mining rate to nearly triple to 10 to 12 million tonnes a year from 2026 versus the base case 4.25 million tonnes. The bulk underground mining method of block caving, as used at Newcrest’s Cadia East mine, would increase ore volumes, lower unit costs and exploit a larger portion of the resource. Copper sales would almost double to 105,000 to 125,000 tonnes a year, from the base case of about 65,000 tonn...
Oz Minerals is a growth orientated, midtier, copper-focused mining company. The Prominent Hill mine in South Australia began life in the bottom half of the cost curve and except for a brief bout of industry cost inflation around 2013, has remained there since. Reserve life is relatively short, at less than 10 years based on 2018's production rate, and grades will decline with stockpile processing. Management has so far met the challenge to extend life at Prominent Hill, albeit at lower productio...
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