Australia's Sandfire Resources slips; Jarden downgrades to 'neutral'

Sandfire Resources

08/03/2024 03:57

** Shares of Australian copper-zinc explorer Sandfire
Resources  SFR.AX  slip as much as 2.2% to A$7.840, their
biggest intraday pct loss since Feb 23 
    ** Analysts at Jarden downgrade their rating for Sandfire,
reflecting the movement in share price vs valuation
    ** Brokerage says it continues to advocate for Sandfire
being a core holding in resources sector 
    ** Sees co to provide 28% copper production growth over the
next two years 
    ** Sees operating risks typical for all underground miners,
lower base metals prices and uninterrupted power supply and
reasonable pricing at co's Motheo and MATSA ops as key risks for
co
    ** Stock up 9.3% YTD, as of last close

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))