https://www.fool.com.au/2018/04/30/why-top-brokers-are-abandoning-sandfire-resources-nl/
Top brokers have gone cold on base metal, iron ore, manganese, copper and gold miner Sandfire Resources NL (ASX: SFR), with Sandfire shares down 2.5% to $7.95 at the time of writing.
Morgans has downgraded Sandfire to reduce from hold raising its price target on the stock from $6.80 to $7.20 after better than expected gold output from Sandfire’s March quarter.
Sandfire reported some impressive cash accumulation figures recently, but Morgans thinks the future of the stock is too heavily reliant on exploration success and development at Black Butte at present and more is required to alleviate medium-term risk attached to mine depletion.
Deutsche Bank also cut its rating on Sandfire to hold today with investors disappointed by March quarter copper production declines as shares in Sandfire slid more than 2.5% on Friday to finish the week in the red, despite full-year copper guidance being maintained.
https://www.fool.com.au/2018/04/30/why-top-brokers-are-abandoning...
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Last
$10.27 |
Change
0.060(0.59%) |
Mkt cap ! $4.190B | |||
| Open | High | Low | Value | Volume |
| $10.31 | $10.42 | $10.18 | $14.51M | 1.416M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 5465 | $10.26 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.29 | 2241 | 2 |
View Market Depth
| Last trade - 16.10pm 22/11/2024 (20 minute delay) ? |
| SFR (ASX) Chart |
