Chris LaFemina joined Jefferies in 2011 to cover the European and US Metals & Mining sector after having covered the sector at Lehman Brothers and Barclays for 10+ years. His global approach to the sector is truly unique as he follows metals and mining companies covering a wide range of market caps and commodity exposures with listings in multiple regions, including the US, Canada, the UK, Australia and Asia. His research includes in-depth supply/demand analysis of commodity markets as well as detailed, bottom-up company analysis. His background is in chemical engineering, and he worked as an engineer for six years before starting his career as a Mining analyst. Chris is a CFA charterholder and received an MBA from the Wharton School. Patricia Hove joined the team in 2011 and previously worked as a geologist. Albert Realini joined the team in December 2021. Before joining Jefferies, he had worked as a licensed CPA in public accounting. Alex Rickard joined the team in 2023 as a graduate.

What We Are Known For

• Historical Analysis: Having been through several commodity cycles over the past 25 years, Chris and his team bring extensive insight into the industry’s historic cyclicality, including signposts to watch for inflection points in the cycle. The team’s valuation analysis provides a framework to identify optimal entry and exit points in mining shares during periods of significant macro risk.
• Commodity Market Analysis: The team frequently publishes unique, in-depth analysis of important commodity markets and mine-by-mine supply trends. Their work often leads them to differentiated views (met coal) and has helped them identify key structural market changes relatively early (copper, iron ore). 
• Tactical Calls: While Chris is most focused on fundamental factors that will impact the sector most over a relatively long duration, he also makes shorter-term tactical calls to help investors navigate through the volatility of the mining sector.