The stock of OZ Minerals Limited (ASX:OZL) hit a new 52-week high and has $8.50 target or 4.00% above today’s $8.17 share price. The 6 months bullish chart indicates low risk for the $2.48B company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $8.50 price target is reached, the company will be worth $99.20 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 6.10% or $0.47 on November 22, hitting $8.17. About 2.88M shares traded hands or 22.03% up from the average. OZ Minerals Limited (ASX:OZL) has risen 43.59% since April 26, 2016 and is uptrending. It has outperformed by 39.03% the S&P500.
More notable recent OZ Minerals Limited (ASX:OZL) news were published by: Bloomberg.com which released: “OZ Minerals Says Gold Output May Miss Guidance on Power Outage” on October 03, 2016, also Fool.com.Au with their article: “OZ Minerals Limited shares surge on broker upgrade: is it a buy?” published on August 11, 2016, Fool.com.Au published: “Here’s why OZ Minerals Limited is in the buy zone” on June 25, 2014. More interesting news about OZ Minerals Limited (ASX:OZL) were released by: Fool.com.Au and their article: “Is OZ Minerals Limited still a buy on profit result?” published on August 10, 2016 as well as Fool.com.Au‘s news article titled: “OZ Minerals Limited shares fall despite huge profit growth” with publication date: February 10, 2016.
OZ Minerals Limited is a mining company with a focus on copper. The company has a market cap of $2.48 billion. The Company’s principal activities are the mining of copper, gold and silver, carrying out exploration activities and development of mining projects. It has a 22.97 P/E ratio.
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