The company experienced over a 10% drop in their share price upon opening on Tuesday, most likely in an unfavourable reaction to the news on Tuesday. MOD shares, however, shot up by 30% with the news, to $40.50 each.
Sandfire Resources NL [ASX:SFR] shares have incurred a staggering drop of over 6% within the first few hours of today’s trading. This comes as a shock after the mid-tier mining company’s notable 8.5% climb yesterday, following the release of impressive FY18 financial results.
At time of writing, Sandfire Resources NL [ASX:SFR] are trading at a respectable $7.70, an 8.1% climb since market closing yesterday. Earlier this morning, the FY18 Annual Results were released on the ASX, marking a record net profit of $123 million for the company.