MENU

Why the Sandfire Resources NL share price is rising today

Sandfire Resources NL (ASX: SFR) jumped 2.7% to $7.37 to take out the third top spot on the ASX 200 index upswings today as its quarterly presentation and report was handed down on January 30.

The mid-tier mining and exploration company became a bona fide copper producer in 2012 after the commissioning of its flagship DeGrussa Copper-Gold Mine north of Perth.

Sandfire also has a solid portfolio of base metal, iron ore, manganese and gold projects.

Sandfire has been on a steady upward trend since early November and logged a 62% increase in annual net profit after tax in June 2017, catching the eye of analysts admiring its low-debt position and strong production capability – buoyed by a rising copper market.

So far Sandfire has smashed Bell Potter’s February 2017 12-month broker price target of $7.10 out of the park and is heading towards Macquarie Group Ltd’s (ASX: MQG) valuation of $7.50 at a rate of knots.

Bill Gates Says This Could Be Worth “10 Microsofts”

If You Missed Investing In Microsoft in 1996 – Read This

I can’t believe so many investors haven’t heard about something Microsoft founder Bill Gates told a group of college students in 2004.

This could be your chance to get in on the ground floor!

Click here to discover more!

Motley Fool contributor Carin Pickworth has no position in any of the 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 Bruce Jackson.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…

Including:

The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!