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

$20.53

02 Mar
2026

0.340

OPEN

$20.60

1.68%

HIGH

$20.70

1,511,138

LOW

$20.33

TARGET
$19.18 -6.6% 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 . MLX . MM1 . MM8 . NEM . STM . TTM .
FNARENA'S MARKET CONSENSUS FORECASTS
SFR: 1
Title FY26
Forecast		 FY27
Forecast
EPS (cps) 109.8 xxx
DPS (cps) 18.6 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 17.7 xxx
Dividend Yield 1.0% xxx
Div Pay Ratio(%) 16.9% 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: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

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 © 2026 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

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

20/02/2026

3

Neutral

$20.10

-2.09%

Macquarie retains a Neutral rating on Sandfire Resources with an unchanged $20.10 target price following a solid 1HFY26 result, broadly in line with its forecasts.

Underlying NPAT of US$107m was 15% ahead of consensus and free cash flow of US$150m was 4% above, while net cash of US$13m had been pre-reported.

No interim dividend was declared, consistent with expectations, as the company prioritises upcoming expenditure at Kalkaroo and balance sheet strength.

Macquarie lifts FY26/27/28 EPS forecasts by 3%/4%/2%, reflecting favourable treatment and refining charge assumptions at Motheo after locking in 75% of 2026-27 concentrate sales at close to market rates.

FORECAST
Macquarie forecasts a full year FY26 dividend of 19.83 cents and EPS of 100.66 cents.
Macquarie forecasts a full year FY27 dividend of 36.60 cents and EPS of 121.55 cents.

UBS

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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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

4

xxxxxxxxxxx

$xx.xx

xx.xx%

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Canaccord Genuity

25/02/2026

1

Upgrade to Buy from Hold

$21.00

2.29%

Canaccord Genuity raises its target for Sandfire Resources to $21.00 from $19.50 and upgrades to Buy from Hold following interim results and after allowing for the Kalkaroo acquisition.

Interim earnings (EBITDA) of US$304m were in line with the broker's forecast, while profit of US$107m beat expectation on lower tax.

Free cash flow (FCF) of US$157m represented 52% conversion and raised the balance sheet to net cash of US$13m.

The broker values the Kalkaroo deposit (large undeveloped copper-gold in South Australia) at -$1.7bn on a risked basis and sees potential for a larger-scale development over time.

Guidance was largely unchanged aside from higher study and exploration spend, explains the broker.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 15.25 cents and EPS of 97.61 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 15.25 cents and EPS of 152.51 cents.
Access Extra Coverage Research History >

SFR STOCK CHART

FNArena News on SFR

1
Australian Broker Call *Extra* Edition – Mar 02, 2026

Mar 02 2026 - Daily Market Reports
2
In Case You Missed It – BC Extra Upgrades & Downgrades – 27-02-26

Feb 27 2026 - Weekly Reports
3
Australian Broker Call *Extra* Edition – Feb 25, 2026

Feb 25 2026 - Daily Market Reports
4
Mineral Supply Chains Are Re-Rating ASX Miners

Feb 23 2026 - Commodities
5
FNArena Corporate Results Monitor – 20-02-2026

Feb 20 2026 - Australia

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