OZ Minerals (OZL) is an ASX listed copper and gold mining company. Two comparable firms for OZL are Regis Resources (RRL) and IGO Limited (IGO). Current information on the three stocks are:

	OZL	RRL	IGO
Price	$9.95	$5.05	$5.09
Net Income	$164 million	$163 million	$176 million
Historical Cash flow	510 million	$276 million	$372 million
Historical Dividends	$0.23 per share	$0.16 per share	$0.14 per share
Shares Outstanding	324 million	508 million	591 million
Total equity	$2980 million	$716 million	$1849 million

a) Use the dividend discount model to determine the fundamental value of OZL. You have a required rate of return of 5.5%.

b) Using the data above determine the relative valuation of OZL based on RRL and IGO and two financial ratios.

c) Based on your analysis above, do you think OZL is a good investment at its current price? Why or why not? Discuss any uncertainty that you have about your valuation.