Why the OZ Minerals Limited share price is pushing higher

One of the top performers on the Australian share market on Wednesday has been the OZ Minerals Limited (ASX: OZL) share price.

In late afternoon trade the copper miner’s shares are up 3% to $9.18.

Why are its shares pushing higher today?

OZ Minerals’ shares have been given a boost today after the broker community responded positively to the release of its quarterly update on Tuesday.

One broker that saw enough in the result to upgrade its shares was Morgans.

According to a note out of the leading broker, its analysts have upgraded OZ Minerals’ shares to an add (buy) rating and lifted the price target on its shares to $10.05.

This equates to potential upside of 9.5% from the current share price.

The broker has made the move after making upward revisions to its copper price forecasts in 2018 and 2019.

OZ Minerals is currently trying to acquire Avanco Resources Limited (ASX: AVB) for $444 million.

Top 3 ASX Blue Chips To Buy In 2018

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool’s Top 3 Blue Chip Stocks for 2018."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies moves – we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.