OXR
Stock Code
Stock Exchange
An exploration and mining company, Oxiana Limited (OXR) is engaged in the mining and exploration of gold, copper, precious and base metals. Its production of copper and gold is done in the company’s two mines located in Laos. OXR was listed on the Australian Stock Exchange on the 1st of January 1970. Its average annual revenue reaches approximately $1 billion out of its issued capital of $25 million. Its headquarters is located in Melbourne, Australia and to date; around 150 employees are employed in the company.
OZ MINERALS (OZM) is well placed to enter the ranks of the global diversified base metal miners from Australian Stockmarket analyst Macquarie Research Equities.
Oxiana (OXR)/Zinifex(ZFX) – Say Hello to OZ MINERALS (OZM)
Australian Resources Weekly provided by Australian market analyst UBS.
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MRE maintained an outperform recommendation on both ZFX and OXR, with a 12 month price target of A$12.77 and A$4.00 respectively from Australian Stockmarket analyst Macquarie Research Equities.
Oxiana (OxR)/ Zinifex (ZFX): The Arbs Are Nervous
Here is a review on the sector resources provided by Australian stockmarket analyst Macquarie Research Equities.
How High can Resources Go? A Review of the Sector
Oxiana (OXR) has a Neutral stock recommendation and a share price target of $4.00 from Australian share analyst Macquarie Research Equities.
OXR: Trading Idea - Oxiana
Oxiana (OXR) - Neutral
Current Price: $3.43
Target Price: $4.00 (~16.61% Upside)
P/E: 14.3 X
Div Yield: 2.4% (100% Franked)Oxiana (OXR) Technicals:
Oxiana (OXR) has a maintained $4.00 share price target from Australian sharemarket analyst Macquarie Research Equities.
Oxiana (OXR): Ox Still Prominent
Oxiana (OXR) rallied strongly this morning, up 3.5% following the release of their 1Q08 operating results. The company delivered a stronger than expected quarter for copper and gold, according to Macquarie Research Equities (MRE), however delivered a lower production number for zinc. This is MRE’s view...
Perilya (PEM) was the overall best performing stock taking in a 18.9 percent increase in its share price this week. It was a mixture of metal mining, engineering and logistics companies who were among the best performing stocks for the week 8 of 2008 on the Australian stockmarket: Downer EDI (DOW), Oxiana (OXR), CSL (CSL), Perilya (PEM), Boom Logistics (BOL) and Kagara (KZL). These best performing stocks for week 8 of 2008 managed gains above 12 percent by the end of the trading week.
Jubilee Mines (JBL) was the overall best performing Australian company taking in a 37.7 percent increase of its stock price this week. Among the best performing stocks for the week 45 of 2007 on the Australian sharemarket were a mixture of mining and retail: Harvey Norman (HVN), Paladin Energy (PDN), Oxiana (OXR), Jubilee Mines (JBM), Independence Group (IGO), Sally Malay (SMY). These best performing stocks for week 45 of 2007 recorded gains above 7.9 percent by the end of the trading week.
Australian stockmarket analyst Citi Investment Research (CIR) have provided some guidance to the mining companies Oxiana and Zinifex. Both Oxiana have the potential to fill the void left by the disappearance of MIM and WMR. However, combining the two fills the void in one step. The combined enterprise value of the companies is ~$11bn and with a potential EBITDA of $2bn in FY09e, the current EV equates to an EV/EBITDA multiple of ~5.5x. Merging the two companies would result in production of ~750kt Zn, ~200kt Cu, 375koz Au, 80kt Pb and 10Moz of Silver by FY10e. This would make the company comparable to the old WMR and only a coal business away from being a Teck Cominco. EBITDA would be ~$2bn in FY09e with NPAT of ~$1.3bn. However, once CIR’s long-term prices kick in, prospective NPAT drops to ~$500m. Post the smelter spin-out, the cash position of a merged entity would be ~$4.4bn by the end of FY08e, with minimal debt. With ZFX still to appoint a new CEO, this could be the opportunity for OXR to show their wares. A beauty parade potentially awaits. Interestingly, Xstrata doubled in size with the $4.9bn takeover of MIM in 2003. Merging ZFX/OXR would essentially result in a similar size company, with enough cash to keep on growing through further deals. However, mine life still missing, the key risk would be the same risk currently experienced by both companies - the shortage of long mine-life assets. However, a cash balance of $4.4bn could go a long way to solving that problem. Given the temptations of a highly leveraged business and bank full of cash, OXR will not be the only company interested in ZFX post smelter spin out.
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