Sandfire Resources America (SFR) AI Stock Analysis

• Market Cap: C$281.42M
• Dividend Yield: N/A
• Average Volume (3M): 6.54K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.62
• 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: 44 Neutral
• Price Target: C$0.27 ▼(-23.71% Downside)
• Action: Reiterated Date: 02/02/26
• Date: Action: Reiterated 02/02/26

The score is primarily held down by very weak financial performance (zero reported revenue, widening losses, persistent cash burn, and negative equity with meaningful debt), which indicates elevated funding and balance-sheet risk. Technical indicators provide only modest support (price above major moving averages with neutral RSI), while valuation remains unfavorable/unclear due to negative earnings and no dividend data.

Positive Factors

Copper-focused business model

A core focus on copper aligns SFR with large, industrial metal supply chains and established offtake channels. That business model creates a clear, durable demand pathway for production if projects reach commercial scale, supporting long-term revenue potential tied to industrial metal use.

By-product optionality

Geologies that yield payable by-products can materially improve project economics and margins over time. Recoverable co-products diversify revenue streams and reduce sole reliance on copper prices, helping sustain margins and cash generation once processing and recovery are established.

Group operating/development support

Being the Americas arm of a broader Sandfire group provides access to technical expertise, project execution experience, and potential corporate support for permitting, financing, and offtake negotiations. That affiliation can improve execution outcomes and reduce development risk long term.

Negative Factors

No reported revenue / no production

Zero reported revenue indicates the business is not yet generating operating cash from sales, leaving project economics unproven. Without production-derived cash, SFR must rely on external funding to advance projects, increasing execution and financing risk over the medium term.

Persistent cash burn

Sustained negative operating and free cash flow shows the company is consuming capital to fund operations and development. Continued cash burn erodes reserves, forces dependence on capital markets, and can delay projects or dilute shareholders if financing is required repeatedly.

Strained balance sheet

Material negative equity combined with significant debt reduces financial flexibility and raises refinancing and covenant risks. This capital-structure weakness can limit the firm's ability to fund capital-intensive mine development and heightens the probability of dilutive financing under adverse conditions.

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 makes money primarily by developing and operating mining projects that produce copper-bearing material and selling that production into the metals market. Revenue is generated when metal is sold—typically as copper concentrate (or other saleable product forms if processing routes require it)—with sales values linked to prevailing market prices and adjusted for product quality, payable metal terms, and applicable treatment/refining charges under offtake or sales agreements. Key revenue drivers therefore include: (1) production volume (ore mined and processed, metallurgical recoveries, and plant uptime), (2) realized commodity prices for copper (and any payable by-product metals, if present), and (3) commercial terms with counterparties who purchase the output (such as traders or smelters). Where SFR holds development-stage or exploration assets, cash generation may also depend on financing and portfolio actions such as asset-level joint ventures, earn-in arrangements, royalties, or divestitures; specific agreements and counterparties are null because they are not provided here. Operational factors that significantly influence earnings include mining and processing costs, sustaining and growth capital needs, permitting and regulatory compliance, logistics/transport to customers, and any hedging or pricing mechanisms used by the broader Sandfire group (details not provided here: null).

Sandfire Resources America Financial Statement Overview

Summary

Financial performance is highly distressed: revenue is reported as zero, profitability is deeply negative (TTM net loss about -$28.0M), cash burn is significant (TTM free cash flow about -$21.0M), and the capital structure is strained with deeply negative equity (~-$56.2M) alongside meaningful debt (~$71.7M).

Income Statement

Results are very weak: revenue is reported as zero across annual periods and TTM (Trailing-Twelve-Months), while gross profit is consistently negative and operating losses are sizable (TTM EBIT of about -$20.0M; TTM net loss about -$28.0M). Losses have also widened versus the prior annual period (net loss ~$29.6M in 2025 vs ~$17.5M in 2024), indicating deteriorating profitability and limited evidence of scaling toward break-even.

Balance Sheet

The balance sheet is strained by persistent negative equity (TTM stockholders’ equity about -$56.2M) alongside meaningful debt (TTM total debt about $71.7M). Total assets are relatively small (~$27.1M TTM), and the negative equity position increases refinancing and dilution risk, especially if losses continue and additional capital is needed.

Cash Flow

Cash generation is weak with negative operating cash flow and negative free cash flow across periods (TTM operating cash flow about -$19.3M; TTM free cash flow about -$21.0M). Free cash flow has also worsened versus the latest annual period (TTM decline indicated by negative growth), reinforcing that the business is currently consuming cash rather than funding itself internally.

Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-438.29K	-151.90K	-44.91K	-321.87K	-245.85K	-301.16K
EBITDA	-19.59M	-22.28M	-12.21M	-10.31M	-17.93M	-10.37M
Net Income	-28.05M	-29.61M	-17.52M	-13.96M	-18.97M	-10.98M
Balance Sheet
Total Assets	27.08M	26.95M	25.83M	22.60M	20.61M	22.38M
Cash, Cash Equivalents and Short-Term Investments	387.30K	825.20K	570.47K	119.30K	94.53K	4.16M
Total Debt	71.70M	61.78M	40.01M	25.61M	14.10M	153.21K
Total Liabilities	83.23M	72.44M	47.72M	30.74M	18.25M	3.50M
Stockholders Equity	-56.15M	-45.49M	-21.89M	-8.14M	2.36M	18.88M
Cash Flow
Free Cash Flow	-21.02M	-23.59M	-14.30M	-12.02M	-18.96M	-18.96M
Operating Cash Flow	-19.32M	-21.26M	-11.46M	-10.88M	-17.60M	-12.13M
Investing Cash Flow	-1.70M	-2.33M	-2.84M	-1.13M	-1.69M	-6.83M
Financing Cash Flow	20.82M	23.83M	14.82M	12.04M	15.23M	23.17M

Sandfire Resources America Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.35
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• 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 Negative. The current price of 0.35 is above the 20-day moving average (MA) of 0.30, above the 50-day MA of 0.32, and above the 200-day MA of 0.30, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 35.75 is Neutral, neither overbought nor oversold. The STOCH value of 59.65 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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%
SURG	53 Neutral	C$230.43M	-21.25	-4.43%	―	―	-18.67%
CDPR	48 Neutral	C$401.25M	-15.77	463.83%	―	-100.00%	-127.82%
REG	48 Neutral	C$454.47M	-118.64	-5.64%	―	―	-67.96%
KC	46 Neutral	C$54.57M	-6.74	-4.14%	―	―	56.31%
CDB	45 Neutral	C$138.54M	-3.60	-613.46%	―	―	-8.78%
SFR	44 Neutral	C$281.42M	-15.52	―	―	―	-42.50%