Sandfire Production Miss Reflects Dip in Grades, Recoveries
Dow Jones10-27 10:01
0201 GMT - A slight production miss at Sandfire Resources' Matsa operation is due to a planned reduction in copper and zinc ore grades and a temporary decline in ore recoveries, says RBC Capital Markets analyst James Redfern in a note. Matsa copper-equivalent output of 22,700 metric tons in 1Q is 6% below consensus. "However, SFR expects higher ore grades and recoveries across the remainder of FY27 and production guidance remains unchanged," Redfern says. Output at Sandfire's Motheo operation is in line with consensus, he says. RBC has a sector perform rating and target price of 23.00 Australian dollars on the stock. Shares are up 2.5% at A$19.65.
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