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'Optimistic': Broker names 2 ASX mining shares to buy right now

We take a look at two mining shares being recommended to investors.

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Monica O'Shea
Monica is a journalist with experience working for Daily Mail Australia in Sydney and the Port Pirie Recorder and the Flinders News in South Australia. Monica completed a cadetship in 2013. She also hold a B.Science (Biotechnology) with Honours from the University of Adelaide. Monica has worked in government at the local, state and federal level. Monica has a keen interest in finance and the share market and enjoys exploring the highs and lows. When not writing for Motley Fool Australia, Monica enjoys travel, sport, music, and likes to play the violin in her spare time. For story tips and broker tips, email me at [email protected]
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Key points
  • An analyst has recommended two ASX mining shares to investors 
  • One is exploring copper, while the other is developing a graphite project
  • The share price of one of these companies has soared 100% in a year 

Two ASX mining shares are a buy at the moment according to an analyst at a Sydney financial firm.

Sandfire Resources Ltd (ASX: SFR) and Renascor Resources Ltd (ASX: RNU) share prices have been recommended to investors.

Let's take a look at these two ASX mining shares in more detail.

Two smiling men in high visibility vests and yellow hardhats stand side by side with a large mound of earth and mining equipment behind them smiling as the Carnaby Resources share price rises today

Image source: Getty Images

Sandfire Resources

Sandfire Resources is a buy according to Jean-Claude Perrottet from Medallion Financial Group. Sandfire is a copper explorer. Commenting on The Bull, Perrottet highlighted the miner's record sales revenue of $922.7 million in FY2022. He also noted the company's MATSA copper operations in Spain delivered a "positive operational performance". Perrottet said:

We remain optimistic about the longer term outlook for copper producers given the shift towards cleaner energy.

The Sandfire Resources share price has fallen 11.97% in the last year. However, it has climbed 12.94% in the last month.

Renascor Resources

Renascor Resources is also a buy according to Perrottet. Renascor is developing the Siviour Graphite Project on the Eyre Peninsula in South Australia. Perrottet highlighted Renascor has "the world's second biggest graphite reserve". He added:

RNU aims to become a supplier of purified spherical graphite (PSG) for lithium-ion battery anode makers across the world. RNU will reach a final investment decision in 2023. Keep an eye on the news flow.

The Renascor Resources share price has soared 100% in a year. However, it has declined nearly 21% in the last month.

Motley Fool contributor Monica O'Shea has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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