OZ Minerals Limited (ASX: OZL) had come forward and made an announcement related to the December 2018 quarter results. The company happens to be a modern mining company which is inclined towards the copper and is based out in Australia. It possesses a growth strategy which revolves around stakeholders’ value creation. Mr. Andrew Cole is the company’s Managing Director and CEO (or Chief Executive Officer), and Mr. Robert Mancini is the Head of Legal.
As per the release issued, OZ Minerals Limited had achieved the Prominent Hill copper guidance. In FY 2018, the company’s production with regards to Prominent Hill stood at 110,111 while the guidance which was given by the company was in the range of 100,000-110,000. The company also stated the AISC (or All-in Sustaining Costs) as well as C1 Cash Costs, with respect to Prominent Hill, happens to be lower than the guidance range which was provided. [optin-monster-shortcode id=”swikrbu1d9j9aq0o4cko”]
The release issued by OZ Minerals Limited also stated that its unaudited net revenues for 2018 happen to be approximately $1,115 million and the company also stated that the cash balance was $505 million. This cash balance is after the deployments made for the growth purposes. The issued release also stated that the company has increased the production guidance for gold for 2019. The company also stated that, in 2019, it would be focusing on Carrapateena as well as other growth projects. OZ Minerals Limited would also be inclined towards the activities which would support in tapping the targets related to the production as well as costs. OZ Minerals Limited added that Carrapateena project is at the peak construction while West Musgrave project happens to be in PFS (or Pre-Feasibility Study). Additionally, in Brazil, the establishment of the growth platform is also done with regards to Carajás and Gurupi mineral provinces.
The company also stated that 2018 happens to be a robust year. When seen from the growth point of view, the company had worked towards numerous milestones so that it can be copper-focused miner on a global basis. The release published also contained information related to 2019. OZ Minerals Limited would continue to be focused on the Modern Mining culture development. The company added that this would benefit the stakeholders.
We would now look at how the stock has performed today, and it has been performing over the last few months. On January 24, 2019, OZ Minerals Limited’s stock closed the session on position note as the stock price closed at A$9.470 per share which implies the rise of A$0.310 per share or 3.384%. The market capitalization of OZ Minerals Limited stood at $2.97 billion. However, the annual dividend yield of OZ Minerals Limited happens to be 2.4%.
Talking about the past performance, the company’s stock has delivered the return of -2.86% in the time frame of past six months while in the time span of previous three months, OZ Minerals Limited posted the returns of 0.44%.
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