Goldman Sachs downgraded Sandfire Resources (SFRRF) to Neutral from Buy with a price target of A$9.60, down from A$10.20. The company reported a weaker-than-expected March quarter result, heavily impacted by wet weather at both operations in Spain and Botswana, while unit costs at both Motheo and Matsa increased sequentially, the analyst tells investors in a research note. The stock has rallied 17% since being added to the firm’s Buy list three weeks ago and now looks fairly valued, the firm added.
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