Report
Mathew Hodge
EUR 100.00 For Business Accounts Only

Lower Copper Price and Higher Exploration Dents Sandfire’s 1H19 Profit. AUD 6.40 FVE Unchanged.

Sandfire Resources' first-half fiscal 2019 net profit after tax fell 19% to AUD 48 million versus AUD 60 million a year ago. The decline was largely driven by lower copper prices and doubling of exploration expenditure. The weaker AUD/USD exchange rate and stronger gold price were partial offsets.
Production from the DeGrussa mine was solid, with copper and gold production growing 10% and 15%, respectively, on last year. We expect further improvement through 2019 as high-grade Monty ore is added...
Underlying
Sandfire Resources Limited

Sandfire Resources is a mining and exploration company. Co. is engaged in the production and sale of copper, gold and silver; and the exploration and evaluation of mineral tenements and projects in Australia and overseas. Co. has two operating segments: The DeGrussa Copper Mine, a copper-gold mine located in the Bryah Basin mineral province of Western Australia; and Exploration and evaluation, which includes exploration and evaluation of the mineral tenements in Australia and overseas, including exploring for potential repeats of the DeGrussa Volcanogenic Massive Sulphide mineralised system at the Doolgunna Projects and Co.'s investment in Tintina Resources Inc and WCB Resources Ltd.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Mathew Hodge

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