Sandfire Resources Ltd (SFR.AU) saw its stock soar by 5.64% in intraday trading on Tuesday, as part of a broader rebound among Australian-listed copper miners. This surge comes on the heels of heavy sell-offs in the previous session, which were driven by economic uncertainty.
The recovery in Sandfire's stock price aligns with a stabilization in copper prices. Investors are currently awaiting further clues on the global economic outlook, with the copper benchmark posting marginal gains. This positive movement in metal prices has provided a boost to copper mining stocks across the board.
While Sandfire Resources experienced a significant uptick, it wasn't alone in its sector's recovery. For instance, Australia-listed shares of Capstone Copper (CSC.AX) surged as much as 7.2% to A$6.850, marking its biggest intraday jump since mid-August 2024. This broader trend underscores the sensitivity of mining stocks to fluctuations in commodity prices and overall economic sentiment.
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