Sydney, Jan 31, 2026, 17:47 (AEDT) — Market closed.
- Sandfire Resources closed Friday at A$19.85, dropping 6.85%, after fluctuating between A$19.61 and A$21.75
- The company scheduled its December-half results for Feb. 19, alongside an investor call on the same day
- The retreat in copper prices from record peaks has refocused attention on commodity-linked stocks
Sandfire Resources shares ended Friday at A$19.85, slipping 6.85%. They swung between A$21.75 and A$19.61 during the session. Volume was strong, with roughly 4.7 million shares traded. (Intelligent Investor)
The drop is significant since Sandfire now acts as a high-beta proxy for copper, which has been bouncing near record highs. With markets closed over the weekend, investors face Monday searching for clues on whether the commodity’s volatility is easing or about to intensify.
The company announced it will release its financial results for the six months ending Dec. 31, 2025, on Thursday, Feb. 19. A teleconference is set for 10:00 a.m. (AWST) / 1:00 p.m. (AEDT). This date now represents the next key milestone for the stock. (Sandfire)
Copper slid on Friday, retreating from Thursday’s record peak of $14,527.50 a metric ton, as investors cashed out gains and the U.S. dollar strengthened following Donald Trump’s announcement that former Federal Reserve governor Kevin Warsh would lead the Fed. “Generalist investors who have different agendas — like protecting capital — are taking profits,” said Tom Price of Panmure Liberum. (Reuters)
That kind of price action can sting. When copper jumps a few percent within hours, the stock market often hits the sell button before thinking twice, even for producers with steady operations.
Some copper market watchers are already eyeing February for a potential shake-up. “I would be quite nervous about where we’re going to go in the short term… you’re going to get demand disruption,” Dan Smith, managing director at Commodity Market Analytics, told Reuters this week. Alastair Munro at Marex also pointed to the Lunar New Year break in China as a potential spark for a correction. (Reuters)
Sandfire reported on Jan. 22 that first-half copper-equivalent production hit 72.1 kilotonnes, a figure that combines by-products into a single copper metric. The company kept its full-year production, cost, and capex forecasts intact, though it expects output to pick up in the second half. At Dec. 31, Sandfire held net cash of $13 million. It also highlighted that Havilah Resources shareholders will vote on Feb. 6 regarding a proposed deal related to the Kalkaroo copper-gold project. (Sandfire)
Operations run between the MATSA site in Spain and Motheo in Botswana. The company noted that recent production was limited by maintenance issues and mobile fleet availability at Motheo. These factors will become more significant if copper prices lose momentum.
There’s a risk to watch. Should copper’s slump deepen into a full correction, or if cost pressures surface in the half-year results, the stock could fall fast after its recent surge.
Traders on Monday will focus on copper’s direction in London and the U.S. dollar’s moves, with thin liquidity before the Lunar New Year holiday likely amplifying volatility. Sharp swings in the metal are directly impacting miners’ shares.
