The Motley Fool

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.

5 ASX Stocks for Building Wealth After 50

I just read that Warren Buffett, the world’s best investor, made over 99% of his massive fortune after his 50th birthday.

It just goes to show you… it’s never too late to start securing your financial future.

And Motley Fool Chief Investment Advisor Scott Phillips just released a brand-new report that reveals five of our favourite ASX stocks for building wealth after 50.

– Each company boasts strong growth prospects over the next 3 to 5 years…

– Most importantly each pays a generous dividend, fully franked.

Simply click here to find out how you can claim your FREE copy of “5 ASX Stocks for Building Wealth After 50.”

See the stocks now