Have always liked OZL as a quality copper producer. Would I pay 30x PE for it though when the copper price hasn't recovered from the speculative highs reached in Feb and with China data slowing and the Chinese preferring scrap over refined product due to the current price difference? Nope. I'll look to accumulate around $20 when this market inevitably comes off these unsustainable levels. The reflation/reopen trade has been more than priced in with indices and stock prices looking stretched short term.
OZL Price at posting:
$23.19 Sentiment: Hold Disclosure: Not Held
