Analyst Ben Lyons upgraded the rating of Sandfire Resources Limited to “Hold” on Wednesday and set a target price of A$20.50. The company’s stock closed at A$19.62 on Thursday.
According to the data from TipRanks, Lyons is a 4-star analyst with an average return rate of 5.8% and a success rate of 65.27%. Lyons covers the basic materials sector, and the key stocks they track include Greatland Resources, PLS Group, and Liontown Resources Limited.
Overall, Wall Street analysts have unanimously rated Sandfire Resources Limited as 'moderate buy', with an average target price of A$23.12, representing a potential upside of 17.86% from the current level. RBC Capital also maintained a 'hold' rating in a report released yesterday, with a target price of A$23.00.
According to the latest financial report for the quarter ending June 30th as per Sandfire Resources Limited, the company's revenue for that quarter was A$964.05 million, with a net profit of A$255.05 million. In contrast, during the same period last year, the company's revenue was A$627.27 million, and the net profit was A$43.12 million.
Based on the trading activities of 7 company insiders recently, their sentiment towards this stock is negative. This indicates that, in the past quarter, there has been an increase in the number of insiders selling SFRRF shares compared to earlier this year.
