Sandfire Resources Bear Worries About Production Delays -- Market Talk

Dow Jones

Apr 10

0133 GMT - Sandfire Resources bear Morgan Stanley says it is concerned about delayed access to production areas, after the copper miner reported 3Q output significantly below consensus. The miss was in big part due to a later-than-expected transition to higher-grade ore at the Motheo mine. MS says its underweight rating on Sandfire is also underpinned by a shorter mine life versus peers. "Significant valuation" is being attributed by the market to resource-to-reserve conversions, "which are yet to be proven and may not eventuate in the size expected," MS says. It has a target of A$16.20 on the stock. Shares are down 0.2% at A$17.38, adding to a 4.0% drop Thursday. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

(END) Dow Jones Newswires

April 09, 2026 21:33 ET (01:33 GMT)

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The miss was in big part due to a later-than-expected transition to higher-grade ore at the Motheo mine. MS says its underweight rating on Sandfire is also underpinned by a shorter mine life versus peers. \"Significant valuation\" is being attributed by the market to resource-to-reserve conversions, \"which are yet to be proven and may not eventuate in the size expected,\" MS says. It has a target of A$16.20 on the stock. Shares are down 0.2% at A$17.38, adding to a 4.0% drop Thursday. (rhiannon.hoyle@wsj.com; @RhiannonHoyle) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 09, 2026 21:33 ET (01:33 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sandfire Resources Bear Worries About Production Delays -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSandfire Resources Bear Worries About Production Delays -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-04-10 09:33</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0133 GMT - Sandfire Resources bear Morgan Stanley says it is concerned about delayed access to production areas, after the copper miner reported 3Q output significantly below consensus. The miss was in big part due to a later-than-expected transition to higher-grade ore at the Motheo mine. MS says its underweight rating on Sandfire is also underpinned by a shorter mine life versus peers. \"Significant valuation\" is being attributed by the market to resource-to-reserve conversions, \"which are yet to be proven and may not eventuate in the size expected,\" MS says. It has a target of A$16.20 on the stock. Shares are down 0.2% at A$17.38, adding to a 4.0% drop Thursday. (rhiannon.hoyle@wsj.com; @RhiannonHoyle) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 09, 2026 21:33 ET (01:33 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1791710582.SGD","symbol_name":"Fidelity Global Demographics A-ACC-SGD (SGD/USD hedged)","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2626909152","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2626909152","pubTimestamp":1775784780,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0133 GMT - Sandfire Resources bear Morgan Stanley says it is concerned about delayed access to production areas, after the copper miner reported 3Q output significantly below consensus. 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The miss was in big part due to a later-than-expected transition to higher-grade ore at the Motheo mine. MS says its underweight rating on Sandfire is also underpinned by a shorter mine life versus peers. \"Significant valuation\" is being attributed by the market to resource-to-reserve conversions, \"which are yet to be proven and may not eventuate in the size expected,\" MS says. It has a target of A$16.20 on the stock. Shares are down 0.2% at A$17.38, adding to a 4.0% drop Thursday. (rhiannon.hoyle@wsj.com; @RhiannonHoyle) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  April 09, 2026 21:33 ET (01:33 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"-1","news_tag":"dataReport","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}