The stock rallied 7.6% following Sandfire Resources’ FY '26 results, driven by record sales, strong EBITDA growth, and a clean balance sheet that supported the reinstatement of dividends, signaling investor approval of the company’s operational execution and financial discipline.
- Sales revenue hit a record $1.7 billion, with underlying EBITDA rising to $867 million and underlying profit more than tripling to $350 million.
- Motheo operation delivered a 45% increase in EBITDA to $461 million, producing a record 59,700 tonnes of copper equivalent at a 62% margin despite a 16% rise in unit costs to $46/tonne.
- MATSA’s EBITDA surged 71% to $499 million at a 55% margin, benefiting from favorable commodity prices and byproducts, with unit costs held within 5% of guidance at $89/tonne.
- Net cash position improved to $353 million following full debt repayment, supporting the decision to declare a fully franked final dividend of AUD 0.35 per share.
- Increased operating costs and new Botswana tax legislation did not materially impact profitability or outlook.
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