Sandfire slammed by downgrades

The gold and copper miner has been hit by a slew of downgrades after reporting higher capex than expected.

Bad news from Australia's embattled junior miners caused more havoc to their share prices this week, with Sandfire Resources and Perseus Mining slumping as rising costs added further pressure on their operations.

Sandfire Resources sunk 8% to $5.50 at 1220 AEST following downgrades from four brokers today, just two days after Perseus Mining was hammered after reporting higher cash costs than anticipated at its flagship mine.

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