oldman Sachs downgraded Sandfire to sell from neutral with the broker expressing concern about the copper miner's long term earnings prospects.It cut its 12-month target price to $5.2 a share from $5.4 a share, noting the revised target price implies 14 per cent downside for the shares. The broker lowered medium and long term earnings forecasts for Sandfire after revising its foreign exchange forecasts. "Sandfire is trading at 1.4 times net asset value (37 per cent of asset NAV is lower returning development projects), the Degrussa mine is short life at 2.5 years and growth projects are low returning on our estimates," the broker said.
I'm now saying that MLX will sell or do a JV with Sandfire. They need a mine, MLX has one, they have the funds so im expecting this to happen!
We will see this stock explode to the upside very soon
MLX Price at posting:
8.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)