Sandfire corrected over 30% from its late January high as investors took profit before, and after the Iran war broke out. The main issue with this copper miner is its valuation, after it became the “go to” pure Cu play on the ASX after BHP bought OZ Minerals three years ago. Even in today’s environment, where virtually all analysts are positive on the industrial metal, there is mixed opinions around SFR – of the 13 analysts that follow the company, three have a Sell and one a Hold, shown on the MM site Here. That implies the market could now be underweight SFR leaving the stock susceptible to a strong move on the upside. The risk/reward looks very good at current levels.
- We can see SFR testing/making new highs in 2026, as the Cu trade gathers momentum: MM owns SFR in its Active Growth Portfolios.
MM is long and bullish SFR
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