34 stories mentioning ASX:SFRUpdated 2d ago
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Capstone Copper (ASX:CSC) and Sandfire Resources (ASX:SFR) fell in recent Friday trade due to a fall in copper prices.Capstone Copper shares fell 9% while Sandfire Resources fell 6% in recent trade.
Here are the ASX-listed companies with the biggest losses on Friday.Develop Global (ASX:DVP): -11%, AU$4.77Liontown (ASX:LTR): -9%, AU$1.06Deep Yellow (ASX:DYL): -9%, AU$1.43Paladin Energy (ASX:PDN): -9%, AU$10.33Capstone Copper (ASX:CSC): -9%, AU$14.50PLS Group (ASX:PLS): -8%, AU$4.48GQG Partners (ASX:GQG): -7%, AU$1.12Telix Pharmaceuticals (ASX:TLX): -7%, AU$15.55Westgold Resources (ASX:WGX): -7%, AU$5.44Sandfire Resources (ASX:SFR): -7%, AU$20.91
Shares of Sandfire Resources (ASX:SFR) fell past 2% in recent trading on Thursday as three-month copper futures on the London Metal Exchange rose to $14,858.50 per metric tonne, setting a new record.The copper futures set a fresh record in each of the previous three sessions.Capstone Copper's (ASX:CSC) shares fell 1%.
Sandfire Resources (ASX:SFR) has an average rating of hold and mean price target of AU$22.14, according to analysts polled by FactSet.
Australian shares fell on Wednesday as investors digested July's domestic consumer price index report.The S&P/ASX 200 Index fell by 0.4%, or 36.80 points, to close at 9,127.80.Overnight on Wall Street, both the S&P 500 and the Dow Jones gained 0.3%, while the Nasdaq Composite rose by 0.7%.Brent crude oil futures fell to trade around $86 per barrel after Iran and Oman restarted talks over the Strait of Hormuz.On the domestic front, Australia's CPI rose 3.5% in the 12 months to July, down from 3.8% in the 12 months to June, while trimmed mean inflation held steady at 3.6%, according to a Wednesday report by the Australian Bureau of Statistics.Australia's total construction work done in seasonally adjusted terms fell 2.1% sequentially to AU$82.52 billion in the June quarter. Total construction work climbed 2.7% year over year in the June quarter.The six-month annualized growth rate in the Westpac-Melbourne Institute Leading Index rose to negative 0.2% in July from negative 0.4% in June, showing that the momentum is running below trend but is not particularly weak.In company news, Woolworths Group (ASX:WOW) logged AU$1.299 earnings per share before significant items for fiscal 2026, compared with AU$1.127 a year ago. For the 12 months ended June 28, revenue was AU$71.54 billion versus AU$69.08 billion previously.WiseTech Global (ASX:WTC) logged $0.94 in underlying EPS for fiscal 2026, compared with $0.731 a year ago. For the 12 months ended June 30, revenue from ordinary activities was $1.4 billion versus $778.7 million previously. Its shares closed down nearly 10%.Sandfire Resources (ASX:SFR) logged $0.756 in underlying earnings per basic share for fiscal 2026, compared with $0.243 a year ago. For the 12 months ended June 30, sales revenue was $1.65 billion versus $1.18 billion previously.
Sandfire Resources' (ASX:SFR) large positive fiscal 2026 dividend surprise and broadly in-line fiscal 2027 guidance will be well-received by the market, RBC Capital Markets said in a Wednesday note.It logged $0.756 in underlying earnings per basic share for fiscal 2026, compared with $0.243 a year ago. For the 12 months ended June 30, sales revenue was $1.65 billion versus $1.18 billion previously.Its underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) of AU$867 million was 1% below consensus and below RBC's estimate of AU$873 million. Underlying net profit after tax came in at AU$350 million, in line with consensus.Its final dividend of AU$0.35 per share was 174% above the consensus estimate of AU$0.13 per share.The brokerage assigned Sandfire a sector perform rating and a price target of AU$20 per share.
Sandfire Resources (ASX:SFR) said it completed 46 near-mine exploration drill holes at Masa 2 West and Masa Olivo prospects at the Magdalena mine in Spain for 27,972 meters, as well as four drill holes at the La Juliana prospect near the Aguas Teñidas mine in Spain for 2,596 meters, according to a Wednesday Australian bourse filing.It hit intercepts of 14.4 meters at 0.4% grade of copper, 15% grade of zinc, 4.4% grade of lead, 0.6 grams per tonne (g/t) grade of gold, and 158.1 g/t grade of silver from 307 meters, 5.5 meters at 3.1% grade of copper, 0.1% grade of zinc, 0.1% grade of lead, 0.9 g/t grade of gold, and 7.2 g/t grade of silver from 524 meters, as well as 8.6 meters 1.3% grade of copper, 0.1% grade of zinc, 0.1% grade of lead, 1.3 g/t grade of gold, and 5.8 g/t grade of silver from 556.2 meters, per the filing.The company said it also completed seven near-mine exploration drill holes at A1 for about 2,045 meters and three drill holes at A4 West for 2,296 meters.The mining company's shares rose 7% in recent trading on Wednesday and earlier reached their all-time peak.
Sandfire Resources (ASX:SFR) said total mineral resources at its MATSA mining complex in Spain increased 12% in tonnes to 190 million tonnes at 1.2% copper, 2.7% zinc, 1% lead and 37 grams per tonne silver, containing 2.3 million tonnes of copper, 5.3 million tonnes of zinc, 2 million tonnes of lead and 230 million ounces of silver, according to a Wednesday Australian bourse filing.The company said total ore reserves stand at 36 million tonnes at 1.4% copper, 2.5% zinc, 0.77% lead and 34 grams per tonne silver, containing 500,000 tonnes of copper, 890,000 tonnes of zinc, 270,000 tonnes of lead and 39 million ounces of silver, with ore reserve tonnes decreasing 2% compared to Dec. 31, 2024, reflecting mining depletion and updated geological models.The company's shares rose 8% in recent Wednesday trade, reaching their all-time high.
Sandfire Resources (ASX:SFR) said total ore reserves at its Motheo asset in Botswana increased 2% to 43 million tonnes at 0.89% copper and 13 grams per tonne silver, containing 390,000 tonnes of copper and 18 million ounces of silver, according to a Tuesday Australian bourse filing.The company said a maiden A1 ore reserve of 5.6 million tonnes at 0.91% copper and 7.4 grams per tonne silver more than offset depletion at T3, A4 and stockpiles and the impact of remodelling at A4.Total mineral resources stand at 57 million tonnes at 0.94% copper and 14 grams per tonne silver, containing 540,000 tonnes of copper and 25 million ounces of silver, a decrease of about 5% in tonnes compared to Dec. 31, 2024, it added.The company's shares rose 8% in recent Tuesday trade, reaching their all-time high.
Sandfire Resources (ASX:SFR) logged $0.756 in underlying earnings per basic share for fiscal 2026, compared with $0.243 a year ago, a Wednesday filing showed.Analysts polled by FactSet expected $0.8239.For the 12 months ended June 30, sales revenue was $1.65 billion versus $1.18 billion previously, the Australia-listed mining company added. Analysts surveyed by FactSet projected $1.46 billion.The board declared a final dividend of AU$0.35 per share, payable Sept. 30 to shareholders of record as of Sept. 11.The company guided for fiscal 2027 copper-equivalent production of between 150,000 tonnes and 166,000 tonnes.
Shares of BHP Group (ASX:BHP) and Sandfire Resources (ASX:SFR) rose over 1% and 2%, respectively, in recent trading on Monday as copper prices neared a new record, rising over 15% within the year.Rio Tinto's (ASX:RIO) shares advanced 1%.Copper contracts for delivery in three months rose to $14,331 per tonne on the London Metal Exchange, nearing an earlier record of $14,527.50 per tonne.
Sandfire Resources (ASX:SFR) has an average rating of overweight and mean price target of AU$19.92, according to analysts polled by FactSet.
Sandfire Resources (ASX:SFR) delivered a record June quarter to close out fiscal year 2026 as its copper-equivalent production of 47,600 tonnes came in roughly 5% above Jarden's forecast, the investment firm said in a late Thursday note.The company's full-year fiscal year 2026 financial results also represent a solid beat, with unaudited earnings before interest, taxes, depreciation, and amortization of $867 million topping consensus estimates on higher revenue.Sandfire's C1 unit costs are at record lows, and with the spot copper price resiliently holding above $6 per pound, the company is currently generating record margins at its MATSA and Motheo assets in Spain and Botswana, respectively, Jarden said.The investment firm now expects Sandfire to report fiscal year 2026 underlying net profit after tax of $352 million, and raised its forecast final dividend by 50% to AU$0.15 per share.Jarden maintained an underweight rating on Sandfire, noting that it remains alert to more attractive entry points, with an unchanged price target of AU$15.50.Sandfire Resources shares fell 4% in recent Friday trade.
Sandfire Resources' (ASX:SFR) fiscal fourth-quarter production was strong to finish the year, in line with company guidance, Jefferies said in a note on Thursday.It reported fiscal fourth-quarter copper-equivalent production of 47,600 tonnes, up from 41,800 tonnes a year earlier.Despite inflationary headwinds, costs were better than expectations and helped to maintain the firm's net-cash position.Its fiscal year 2027 guidance is largely in line with fiscal year 2026 performance, at 150,000 tonnes to 166,000 tonnes of copper-equivalent. Jefferies forecast fiscal 2027 production of 151,000 tonnes of copper-equivalent. It modelled underlying operating costs of $60.45 per tonne. Fiscal year 2027 capital expenditure is guided to increase by around 33%, from the $225 million in fiscal year 2026.The investment firm maintained its buy rating and AU$24 per share price target on Sandfire Resources.
(Updates to add stock movement in the headline and the last paragraph)Sandfire Resources (ASX:SFR) reported fiscal fourth-quarter copper-equivalent production of 47,600 tonnes, up from 41,800 tonnes a year earlier, according to a Thursday filing with the Australian bourse.The company expects fiscal 2027 copper-equivalent production to range between 150,000 and 166,000 tonnes, the filing added.The company's shares rose around 5% in recent Thursday trade.
Sandfire Resources (ASX:SFR) reported fiscal fourth-quarter copper equivalent production of 47,600 tonnes, up from 41,800 tonnes a year earlier, according to a Thursday filing with the Australian bourse.The company expects fiscal 2027 copper-equivalent production to range between 150,000 and 166,000 tonnes, the filing added.
Havilah Resources (ASX:HAV) said reverse circulation drilling began at the Brooks Dam prospect in South Australia, located near the Kalkaroo copper-gold deposit, according to a Tuesday Australian bourse filing.The drilling is being funded under the strategic alliance agreement with Sandfire Resources (ASX:SFR)Drilling at the location was delayed for over two months due to "abnormally heavy" and persistent rainstorms across the region.
Sandfire Resources' (ASX:SFR) more attractive development opportunities besides the Black Butte project in Montana, as well as its modest scale, increase the likelihood of divestment, Jefferies said in a Monday note.The company modeled around 25,000 tonnes per annum of copper over a 12-year life-of-mine and a net present value of AU$91 million for Black Butte. The Lowry reserve increase of 4.7 million tonnes adds around four-years to the Black Butte life-of-mine.Jefferies reduced its capital expenditure forecast in-line with Sandfire's expectations to $475 million. Development of the Lowry deposit remains contingent on regulatory approvals with the company guiding to a six-year process commencing coincident with Johnny Lee deposit access decline development.Sandfire seems to hold an internal preference for the Kalkaroo project, with its increased scale and expedited development timeline, Jefferies noted.The investment firm retained its buy rating on Sandfire Resources with a price target of AU$24.Sandfire Resources' shares slipped 1% in recent Tuesday trade.
(Update to add stock movement in the headline and the sixth paragraph)Sandfire Resources (ASX:SFR) issued an updated pre-feasibility study (PFS) for its Black Butte copper project in Montana, outlining a substantially larger development with an extended mine life and enhanced project scale, according to an Australian bourse filing on Thursday after market hours.The study reports a maiden ore reserve for the Lowry deposit of 4.7 million tonnes grading 2.1% copper, containing 100,000 tonnes of copper, alongside a 255% increase in the Lowry mineral resource to 31.5 million tonnes grading 1.3% copper, containing 400,000 tonnes of copper, per the filing.Additionally, Black Butte's total ore reserves increased by 49% to 14.3 million tonnes grading 2.6% copper, containing 370,000 tonnes of copper, extending the planned mine life by about 50% to 12 years, the filing said.The project is expected to produce 35,000 tonnes per annum of contained copper in its first four years, averaging 31,000 tonnes per annum over the initial mine life, with Johnny Lee fully permitted and Lowry advancing through approvals.The PFS is based on a long-term copper price of $4.70 per pound, with initial capital expenditure estimated at around $474 million, life-of-mine sustaining capital of $180 million, an 88% metallurgical recovery rate, and a C1 cash cost of $2.68 per pound of payable copper, the filing added.Its shares rose 4% in recent trading on Friday.
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