CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Please refer to our Risk Disclosure Statement
Open platformOpen platform

Jefferies upgrades Sandfire Resources to 'buy' after quarterly output beat

By Reuters News

** Analysts at Jefferies upgrade rating for Australia's Sandfire Resources SFR.AX to "buy" from "hold"; keep price target at A$25.50

** Copper miner posted on tuesday quarterly copper equivalent production of 38.9 kt, higher than last year's 35.6 kt and 7% above Jefferies' estimates

** The brokerage believes Sandfire's low-cost portfolio and defined development pipeline provide a credible pathway to material production growth

** Sandfire posted Q1 underlying EBITDA of A$272 million ($190.86 million), compared with A$157 million in the year-ago period

** Continues to see SFR as a quality copper exposure on the ASX, combining a streamlined, low-cost portfolio with a clearly defined development pipeline — Jefferies

** Stock up 9.5% YTD, as of last close


($1 = 1.4251 Australian dollars)

Capital Com is an execution-only service provider. The present material must be regarded as marketing communication and should not be interpreted as investment research or investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page, then you do so entirely at your own risk