Basic Materials – Metals & Mining : First
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Basic Materials – Metals & Mining : First


Jason Fairclough

& team

Bank of America

Merrill Lynch

"Their analyses of supply and demand for every metal are a step ahead of their competitors'"

Back on top after a year in second place is Jason Fairclough's five-strong squad at Bank of America Merrill Lynch; this is the team's third victory in four years. Fairclough, 41, and his associates expanded their coverage universe by three companies over the past year, bringing their total to 45. In July they upgraded French nickel miner Eramet from underperform to buy, at €85.50, on rising nickel prices. The analysts pounded the table in December, noting that even though the project pipeline for nickel mining was full, they did not foresee a supply glut. By the end of that month, the stock had climbed 29.8 percent, to €110.95, and led the sector by 14.8 percentage points. — Ben Mattlin

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