Sandfire Resources NL (ASX: SFR) jumped 2.7% to $7.37 to take out the third top spot on the ASX 200 index upswings today as its quarterly presentation and report was handed down on January 30.
The mid-tier mining and exploration company became a bona fide copper producer in 2012 after the commissioning of its flagship DeGrussa Copper-Gold Mine north of Perth.
Sandfire also has a solid portfolio of base metal, iron ore, manganese and gold projects.
Sandfire has been on a steady upward trend since early November and logged a 62% increase in annual net profit after tax in June 2017, catching the eye of analysts admiring its low-debt position and strong production capability – buoyed by a rising copper market.
So far Sandfire has smashed Bell Potter's February 2017 12-month broker price target of $7.10 out of the park and is heading towards Macquarie Group Ltd's (ASX: MQG) valuation of $7.50 at a rate of knots.
