This stock no longer trades (delisted April 18, 2023)

Delisted / no longer publicly traded (per market data provider) Everything below is based on the last available data — treat it as historical, not a live read.

OZ Minerals Limited

OZL.AX

Copper · Basic Materials

Price

A$28.19

+0.00 (+0.00%)

Market Cap

A$9.51B

Exchange

Australian Securities Exchange

Winston Score

Historical score — this stock no longer trades, so the score is frozen at the last available data.

Data as of Aug 23, 2026 · filings through Dec 31, 2019

How the score breaks down

Quality

Good

Growth

Good

Cash Flow

Good

Stability

Exceptional

Valuation

Weak

Dividends

Good

Share count rising — dilution

+8.0% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 311.2M (2018) → 336.0M (2022)

Winston Score History

The full picture

OZ Minerals is an Australian mining company that digs copper and gold out of the ground. Its main operations are the Prominent Hill and Carrapateena mines in South Australia, plus the Carajás copper project in Brazil. Copper is used in electric vehicles, power grids, and electronics, so OZ Minerals sells mostly to industrial manufacturers and commodity traders around the world.

The company makes money by selling copper concentrate and gold as byproducts, with revenue tied directly to global commodity prices rather than fixed contracts. It operates primarily in Australia and Brazil, and with a market cap around $9.5 billion it is one of the larger pure-play copper miners listed in Australia. Its main competitive advantage is owning high-quality, long-life ore deposits, but because prices are set by global markets, a sustained drop in copper prices would directly hurt profits. The long-term growth driver is rising copper demand from the global energy transition, particularly electric vehicles and renewable energy infrastructure.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+105.2% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+92.3% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

A$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

2.4%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

A$137M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

OZ Minerals Limited grew revenue 105% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

87.4%

Premium pricing power — 87.4% gross margin

Profit after running costs

Operating Margin

18.0%

Healthy — 18.0% operating margin

Return on the money invested

ROCE

4.7%

Weak — 4.7% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

+100.4%

Fast-growing sales (+100.4% YoY)

Profit growth

EPS YoY

+64.5%

Earnings growing fast (+64.5% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

312%

Turns 312% of profit into real cash

Spare cash per sale

FCF Margin

-22.9%

Burning cash (-22.9%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.29

Conservative — low debt load (0.29)

Covers its interest

Interest Cover

23.86x

Comfortably covers interest (23.9x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

55.3x

Expensive — P/E 55.3

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

0.28%

Small dividend — 0.28% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

+335.4%

Dividend growing fast (335.4% YoY)

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