Sandfire Resources Hits New High Amid Copper Price Optimism

Sandfire Resources' (ASX: SFR) share price has reached a new all-time high, trading at A$21.91 on Thursday before closing below major resistance at A$21.47.

The stock has seen significant gains over the past year, increasing by 76.42%, driven by investors' appetite for clean and leveraged copper exposure.

Sandfire Resources is the largest pure-play copper miner listed on the ASX, with producing assets in Botswana and Spain providing a strong cash-flow profile that responds well to copper price movements.

The company's share price has now surpassed Macquarie's revised price target of $21, following their June prediction of a 33% increase in medium-term copper prices.