0045 GMT - The recent sell off in Sandfire Resources shares has unlocked a buying opportunity for investors, according to Morgans. Sandfire's stock fell more than 30% between March 24 and April 9, although it has recovered around half of those losses since then. Sandfire's copper operations in Spain and Botswana were both affected by weather in 3Q, although the company continued to generate cash that allowed its net debt to come down. "We previously rated Sandfire a Hold as we saw its share price has trading at full value," says analyst Annabelle Sleeman. "However the recent sell off created by potential tariff headwinds and macroeconomic uncertainty has created a buying opportunity." Morgans upgrades Sandifre to Add.(david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
April 29, 2025 20:45 ET (00:45 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.