2238 GMT - Sandfire Resources is back in a net cash position, so when will it resume dividend payments to shareholders? Jefferies thinks 2H of FY 2026 is likely. Sandfire ended 1H with US$13 million of net cash, representing a US$75 million reduction in net debt during 2Q. Analyst Mitch Ryan says a stronger balance sheet gives Sandfire more capital flexibility and paves the way for potential shareholder returns or new investment in growth projects. Still, Jefferies is mindful that Sandfire's Kalkaroo copper-gold development in South Australia will likely require initial expenditure of A$70 million annually through to FY 2028. Jefferies retains a hold call on Sandfire, and lifts its price target by 2.9% to A$17.50/share. Sandfire ended Thursday at A$19.11. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
January 22, 2026 17:38 ET (22:38 GMT)
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