Incorporating changes to copper and gold price forecasts has enhanced Macquarie’s preference for copper miners. OZ Minerals remains a key sector pick. Outperform retained. Target rises to $32 from $30.
Target price is $32.00.Current Price is $22.02. Difference: $9.98 – (brackets indicate current price is over target). If OZL meets the Macquarie target it will return approximately 31% (excluding dividends, fees and charges – negative figures indicate an expected loss).