Australian Hot Stocks OZ Minerals (OZL)

OZ Minerals is an Australian based copper miner which owns and operates the Prominent Hill mine in South Australia. It is a currently a hot stock and is listed in the top ASX 200.

OZL says it will clock an impairment reversal of $201.1 million before tax in its 30 June half, recognised in relation to its Prominent Hill operation.

This will result in an increase of $141.1 million to net profit after tax for the half.

OZL is expected to finalise the results on 25 August.

OZL finished up 3.3% yesterday to $1.245 a share on the news, which suggests an improving environment for the global economy and the copper market in particular.

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