Sandfire Resources America (SFR) AI Stock Analysis

• Market Cap: C$358.17M
• Dividend Yield: N/A
• Average Volume (3M): 6.54K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.72
• Revenue Growth: N/A
• EPS Growth: -42.50%
• Country: CA
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Industrial Materials
• EPS (TTM): >-0.01
• Shares Outstanding: 1,023,352,800
• 10 Day Avg. Volume: 12,198
• 30 Day Avg. Volume: 6,541
• PEG Ratio: -0.13
• Price to Book (P/B): -5.85
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -11.28
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 48 Neutral
• Price Target: C$0.35 ▼(-0.86% Downside)

The score is held down primarily by extremely weak financial performance (no revenue, ongoing losses/cash burn, negative equity and rising debt). Technicals are neutral-to-slightly positive and a favorable project feasibility update provides upside optionality, but valuation is constrained by losses and no dividend support.

Positive Factors

Project optionality — Black Butte PFS

A refreshed pre-feasibility study and resource upgrade for Black Butte materially improve development optionality: high-grade potential and an 8-year mine life underpin a realistic pathway to future production and multi-year cash flow, supporting project financing and long-term strategy.

Modest growth in asset base

A modestly growing asset base provides tangible project value and potential collateral for lenders or JV partners. Over 2–6 months this improves the company's ability to pursue development financing or earn-ins versus peers that lack demonstrable asset expansion.

Cash vs accounting dynamics

Free cash flow being not worse than net income suggests meaningful non-cash charges inflate accounting losses. That structural distinction moderates near-term cash strain versus headline losses, easing short-term liquidity pressures and providing more time to advance development financing.

Negative Factors

No revenue and widening losses

The company reports no revenue and materially widening net losses, indicating it has not yet converted projects to producing assets. This persistent lack of operating scale creates ongoing funding needs and means profitability is not achievable without significant project progress or external capital.

Negative equity and rising leverage

Negative equity combined with sharply higher debt leaves the balance sheet structurally weak and increases refinancing risk. With total assets materially below debt, the company faces constrained financial flexibility and greater dilution or covenant risk when seeking project finance or working capital.

Persistent operating cash burn

Consistent negative operating cash flow and worsening free cash flow signal sustained cash burn that will require ongoing external financing. Over the medium term this increases funding, dilution, or project-timing risk and constrains the firm's ability to execute development without new capital.

Sandfire Resources America Business Overview & Revenue Model

Company Description

Sandfire Resources America Inc. engages in the acquisition, exploration, and development of resource properties in the United States and Canada. The company explores for copper, cobalt, zinc, lead, and silver deposits. Its flagship property is the Black Butte copper project that consists of approximately 7,684 acres of fee-simple lands and 4,541 acres in 239 Federal unpatented lode-mining claims located in central Montana, the United States. The company was formerly known as Tintina Resources Inc. and changed its name to Sandfire Resources America Inc. in January 2018. The company was incorporated in 1998 and is headquartered in Vancouver, Canada. Sandfire Resources America Inc. is a subsidiary of Sandfire Resources Ltd.

How the Company Makes Money

Sandfire Resources America generates revenue primarily through the exploration and eventual production and sale of copper and other base metals from its mining projects. The company's key revenue stream will come from the successful development and operation of the Black Butte Copper Project, where it plans to extract and sell copper concentrates to global markets. Additionally, the company may engage in strategic partnerships or joint ventures with other mining firms to enhance its operational capabilities and financial performance. Revenue is also influenced by market demand and prices for copper and other extracted minerals, making commodity market conditions a significant factor in the company's earnings.

Sandfire Resources America Financial Statement Overview

Summary

Sandfire Resources America is facing severe financial difficulties with no revenue generation and negative profitability. The company's negative equity and consistent cash outflows pose significant risks, requiring urgent strategic intervention to secure long-term viability.

Income Statement

Sandfire Resources America reported zero revenue across all periods, indicating significant operational challenges. The company consistently experienced negative EBIT and net income, reflecting severe profitability issues with no signs of improvement.

Balance Sheet

The balance sheet shows negative stockholders' equity, indicating financial distress and potential bankruptcy risk. The debt-to-equity ratio is not meaningful due to negative equity, and the company's liabilities substantially exceed its assets.

Cash Flow

The cash flow statement displays negative operating and free cash flows, highlighting liquidity issues. However, the company managed to secure financing, which may provide short-term relief but does not resolve underlying operational inefficiencies.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-432.44K	-151.90K	-44.91K	-321.87K	-245.85K	-301.16K
EBITDA	-21.34M	-22.28M	-12.21M	-10.31M	-17.93M	-10.37M
Net Income	-29.15M	-29.61M	-17.52M	-13.96M	-18.97M	-10.98M
Balance Sheet
Total Assets	27.68M	26.95M	25.83M	22.60M	20.61M	22.38M
Cash, Cash Equivalents and Short-Term Investments	480.69K	825.20K	570.47K	119.30K	94.53K	4.16M
Total Debt	68.80M	61.78M	40.01M	25.61M	14.10M	153.21K
Total Liabilities	79.48M	72.44M	47.72M	30.74M	18.25M	3.50M
Stockholders Equity	-51.81M	-45.49M	-21.89M	-8.14M	2.36M	18.88M
Cash Flow
Free Cash Flow	-22.88M	-23.59M	-14.30M	-12.02M	-18.96M	-18.96M
Operating Cash Flow	-20.84M	-21.26M	-11.46M	-10.88M	-17.60M	-12.13M
Investing Cash Flow	-2.04M	-2.33M	-2.84M	-1.13M	-1.69M	-6.83M
Financing Cash Flow	22.85M	23.83M	14.82M	12.04M	15.23M	23.17M

Sandfire Resources America Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.35
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:SFR, the sentiment is Positive. The current price of 0.35 is above the 20-day moving average (MA) of 0.32, above the 50-day MA of 0.31, and above the 200-day MA of 0.30, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 63.80 is Neutral, neither overbought nor oversold. The STOCH value of 52.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:SFR.

Sandfire Resources America Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
CDPR	53 Neutral	C$345.05M	-29.25	-129.16%	―	-100.00%	-127.82%
SURG	53 Neutral	C$203.79M	-67.42	-4.43%	―	―	-18.67%
KC	51 Neutral	C$37.78M	-24.74	-4.17%	―	―	56.31%
SFR	48 Neutral	C$358.17M	-12.11	―	―	―	-42.50%
CDB	47 Neutral	C$68.47M	-3.61	-309.54%	―	―	-8.78%
REG	37 Underperform	C$562.12M	-131.21	-6.29%	―	―	-67.96%

Sandfire Resources America Corporate Events

Sandfire Resources America Updates Copper Project Feasibility Study

Sandfire Resources America has released an updated Pre-Feasibility Study for its Johnny Lee Deposit and a new Mineral Resource estimate for the Lowry Deposit at the Black Butte Copper Project. The study highlights the high-grade copper potential with a probable mineral reserve of 9.5 million tonnes at 2.9% copper for the Johnny Lee Deposit, supporting an 8-year mine life. The project is expected to generate significant cash flow and revenue, with a focus on meeting stringent environmental and operational standards. The updated study reaffirms the project’s potential as a leading undeveloped underground copper deposit in the United States.