Macquarie boosts FireFly Metals target as copper resources rise 43%

Firefly Metals

18/11/2025 22:41

** Brokerage Macquarie bullish on Australian copper-gold miner FireFly Metals FFM.AX after an updated mineral resource estimate (MRE)

** Co says MRE shows a 43% increase in contained copper at its Green Bay project

** Macquarie sees the larger resource supporting expanded mining project

** Says potentially doubling annual copper output to 60,000 metric tons, up from 32,000 tons

** Brokerage upgrades FFM price target on FireFly by 35% to A$2.30, citing valuation increases driven by the expanded base case

** Shares have added 83.78% year-to-date as of the last close

(Reporting by Roushni Nair in Bengaluru)

((Roushni.Nair@thomsonreuters.com))