Commodities
Sandfire Resources Share Price Drops Amid Record Output and Improved Balance Sheet
Sandfire Resources' share price dropped by roughly 4.4% in one session to around AUD 18.40, but this decline might be a result of profit-taking after a strong run rather than a problem with the company's operations.
The Australian copper producer reported its strongest quarter yet in June, with group copper equivalent output reaching 47.6kt and sales revenue hitting USD 574 million, resulting in underlying EBITDA of USD 343 million at a 60% margin.
Sandfire's balance sheet has improved significantly, with net cash increasing to USD 353 million by the end of FY26 from net debt of USD 123 million in FY25.