Sandfire on Track to Meet Fiscal 2017 Guidance; Fair Value Estimate Maintained
First-half production of 33,700 tonnes of copper and 19,900 ounces of gold leaves Sandfire well placed to meet full-year guidance of 65,000 to 68,000 tonnes of copper and 35,000 to 40,000 ounces of gold. Our forecasts stay near the top end of the range, and our AUD 4.30 per share fair value estimate remains.Sandfire is overvalued, with the market optimistic that the recent copper price recovery continues. However, we think waning fiscal stimulus will deflate the copper price and refocus attenti...
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.
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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.
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