Sandfire Resources (OTCMKTS:SFRRF) Stock Falls 12.7% – Here’s What Happened

Sandfire Resources Limited (OTCMKTS:SFRRF) dropped 12.7% during trading on Tuesday. The company traded as low as $14.40 and last traded at $14.40. 2,747 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 4,553 shares. The stock had previously closed at $16.50.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada lowered shares of Sandfire Resources to a “sector perform” rating in a report on Friday, July 24th. Two investment analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Sandfire Resources Price Performance

The company’s 50-day moving average price is $15.49 and its 200-day moving average price is $14.12.

About Sandfire Resources

Sandfire Resources Limited is an Australia-based mining and exploration company focused primarily on copper, along with associated gold and other mineral products. The company explores for, develops and operates mineral deposits, with activities spanning production, mineral processing, resource development and exploration.

Sandfire operates the MATSA mining complex in Spain, which includes the Aguas Teñidas, Magdalena and Sotiel mines and produces copper and polymetallic concentrates. In Botswana, the company is developing and operating the Motheo Copper Mine, part of the broader T3 and A4 project area in the Kalahari Copper Belt.