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.
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.
