SANDFIRE RESOURCES LIMITED (SFR)
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SFR

SFR - SANDFIRE RESOURCES LIMITED

FNArena Sector : Copper
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 0.47
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Sandfire Resources is an Australian mining and exploration company. Its main asset is the DeGrussa copper/gold mine in Western Australia. The company was formed and listed in 2004.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$16.27

11 Nov
2025

0.200

OPEN

$16.28

1.24%

HIGH

$16.38

938,725

LOW

$16.11

TARGET
$14.50 -10.9% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
29M . A1M . AR1 . CNB . CSC . CVV . CY5 . CYM . FFM . HGO . LEG . MAC . MLX . MM8 . NEM . STM . TTM .
FNARENA'S MARKET CONSENSUS FORECASTS
SFR: 1
Title FY26
Forecast		 FY27
Forecast
EPS (cps) 92.6 xxx
DPS (cps) 21.8 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 17.8 xxx
Dividend Yield 1.3% xxx
Div Pay Ratio(%) 23.6% xxx
This company reports in USD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: N/A

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 N/A

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 15/03 - ex-div 3c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx31.4
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx1,830.3 M
Book Value Per Share xxxxxxxxxxxxxxx594.0
Net Operating Cash Flow xxxxxxxxxxxxxxx746.3 M
Net Profit Margin xxxxxxxxxxxxxxx7.87 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx5.51 %
Return on Invested Capital xxxxxxxxxxxxxxx4.52 %
Return on Assets xxxxxxxxxxxxxxx3.16 %
Return on Equity xxxxxxxxxxxxxxx5.51 %
Return on Total Capital xxxxxxxxxxxxxxx10.39 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx434.8 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx23 M
Long Term Debt xxxxxxxxxxxxxxx363 M
Total Debt xxxxxxxxxxxxxxx386 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx169 M
Price To Book Value xxxxxxxxxxxxxxx1.89

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx311.5 M
Capex % of Sales xxxxxxxxxxxxxxx17.02 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,469 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx24 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx3 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

-0.3

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Morgan Stanley

28/10/2025

5

Underweight

$11.45

-29.63%

Sandfire Resources reported a weaker than anticipated 1Q26 update, with Morgan Stanley pointing to a miss on copper production of -3.5% versus estimate and consensus.

Matsa missed by -4.5% and Motheo by -2.4% on the broker's forecasts, as well as coming in lower on consensus.

Group C1 costs lifted 14.8% against Morgan Stanley's forecast, but were in line with consensus, due to lower grades at Motheo and by-products at Matsa.

On balance, the financial results were a slight miss on consensus, and the FY26 guidance across all metrics remains unchanged. The miner expects a pick-up in the following three quarters to achieve FY26 guidance.

No change in $11.45 target price. Underweight rating. Industry view: Attractive.

FORECAST
Morgan Stanley forecasts a full year FY26 dividend of 49.84 cents and EPS of 95.00 cents.
Morgan Stanley forecasts a full year FY27 dividend of 56.07 cents and EPS of 112.13 cents.

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

xx/xx/xxxx

5

xxxxxxxxx xx xxxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Canaccord Genuity

10/10/2025

3

Hold

$14.25

-12.42%

Canaccord Genuity notes the Federal Reserve’s September rate cut and outlook, and a weaker US dollar boosted commodity prices, especially precious and industrial metals.

While precious metals benefited as inflation hedges, base metals gained from infrastructure, electrification, and data centre demand, aided by cheaper borrowing.

Aluminium (up 10%), zinc (up 7%), and tin (up 6%) were standout performers. The broker lifted 2026 price forecast for copper by 3.8%, aluminium by 4%, zinc by 4%, tin by 13.7% but cut cobalt by -3.2%.

For Sandfire Resources, the broker's September quarter production forecasts for copper, zinc and silver are lower q/q, while costs at Matsa are 24% higher but -19% lower at Motheo.

EBITDA forecast for FY26 lifted by 9% and by 8% for FY27.

Hold. Target rises to $14.25 from $12.50.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 15.57 cents and EPS of 74.75 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 15.57 cents and EPS of 105.90 cents.
Access Extra Coverage Research History >

SFR STOCK CHART

FNArena News on SFR

1
In Case You Missed It – BC Extra Upgrades & Downgrades – 07-11-25

Nov 07 2025 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Nov 03, 2025

Nov 03 2025 - Daily Market Reports
3
How Much Sandfire ‘Premium’ Is Justified?

Oct 29 2025 - Commodities
4
Weekly Ratings, Targets, Forecast Changes – 17-10-25

Oct 20 2025 - Weekly Reports
5
Australian Broker Call *Extra* Edition – Oct 10, 2025

Oct 10 2025 - Daily Market Reports

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