Sandfire Resources (OTCMKTS:SFRRF) Shares Cross Below 200-Day Moving Average – Time to Sell?

Sandfire Resources Limited (OTCMKTS:SFRRF)’s stock price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $13.70 and traded as low as $12.50. Sandfire Resources shares last traded at $12.50, with a volume of 251 shares.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada lowered shares of Sandfire Resources to a “sector perform” rating in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Sandfire Resources Price Performance

The company’s fifty day moving average is $15.33 and its two-hundred day moving average is $13.73.

About Sandfire Resources

Sandfire Resources Limited is an Australia-based mining and exploration company focused primarily on copper, along with associated gold and other mineral products. The company explores for, develops and operates mineral deposits, with activities spanning production, mineral processing, resource development and exploration.

Sandfire operates the MATSA mining complex in Spain, which includes the Aguas Teñidas, Magdalena and Sotiel mines and produces copper and polymetallic concentrates. In Botswana, the company is developing and operating the Motheo Copper Mine, part of the broader T3 and A4 project area in the Kalahari Copper Belt.