Following 2Q production results for Sandfire Resources, Morgan Stanley believes FY24 guidance remains achievable, with the ramp-up at the Motheo operations progressing well.
Copper production missed forecasts by the broker and consensus by -3% and -4%, respectively, while costs (C1) were -5% worse against the broker's estimate.
Management left FY24 guidance unchanged.
The broker updates its financial model, resulting in a
Sector: Materials.
Target price is
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