Sandfire Resources NL (ASX:SFR) share price down despite solid quarterly update

Copper-gold mining company Sandfire Resources NL (ASX: SFR) shares have sunk 3.3% lower today to $6.61 despite the release of a solid September quarterly report.

Sandfire maintained FY19 guidance, reported strong production and milling rates and has an unaudited $218.4 million cash on hand as at September 30.

There’s undeniable uncertainty in the copper space at present as the US and China trade war impacts every player in the metals space and its likely overall volatility in the sector has investors wary of the red metal for now.

Sandfire shares have seen short surges in the past few months as copper prices have had some rebounds, but its share price is a far cry from its mid-June high of $9.91 right now.

Copper-focused OZ Minerals Limited (ASX: OZL) shares are following suit today, down 3.4% at the time of writing to $8.73 with copper, nickel and zinc player Independence Group NL (ASX: IGO) also suffering – down 2.3% to $4.10.

Motley Fool Australia Issues Rare "Double Down" Buy Alert

Scott Phillips has stumbled upon a little-owned stock he believes could be one of the greatest discoveries of his 25 years as a professional investor.


This is your chance to get in early on of what could prove to be a very special investment recommendation. Think about how many investing trends you've missed out on, even though you knew they were going to be big. Don't let that happen again. This is your chance to get in early.

Simply click here to get started and access our secure sign-up page.

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 Scott Phillips.

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…


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!