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Sandfire looks set to Fire

Posted on September 27, 2022

We remain extremely bullish on the outlook for Copper and thus Sandfire Resources (SFR) as demand for the red metal looks set to surge in order to feed the ongoing push in EVs, solar and wind.  According to S&P Global, copper demand is going to nearly double by 2035.

There is an excellent opportunity to accumulate Sandfire Resources as their shares have tanked around 50% since February.  The fall has been mostly due to the price of copper futures that have also been tumbling which is really crazy because copper inventories are at historical lows – the cupboards are basically bare!!

With BHP looking to gobble up Oz Minerals, it wouldn’t surprise us in the slightest if a larger mining group pounces on Sandfire as there are very few listed, pure copper miners – they are as rare as hens teeth.

Sandfire traded as high as $7.50 back in February.  It is now time to Buy, last sale $3.60

 

 

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