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Institutional Equity Research Associate, Mining

2 weeks ago


Toronto, Ontario, Canada Stifel Full time $60,000 - $120,000 per year
What You'll Be Doing

Reporting to a Research Analyst, the Associate's role is to assist with the preparation of equity research publications, develop and maintain financial models, complete ad hoc research requests, and generally assist the Analyst in all aspects of equity research. The Associate is responsible for developing a solid understanding of the metals and mining space and can clearly state and defend the investment thesis for all stocks in the assigned sector. Must be able to handle basic questions from Sales and Clients and to best represent the firm in corporate presentations.

Stifel has a strong position in the Canadian market, has an international reach and is continuing to grow by adding top talent. The role offers candidates an opportunity to gain valuable, hands-on work experience that is focused on the financial markets. In Canada, we are primarily organized into industry teams focused on specific sectors. These include: Technology, Consumer, Diversified Industries, Life Sciences and Metals & Mining.

Stifel Canada is offering a unique opportunity to work with a well-seasoned team with an exceptional track record and a large global network of relationships.

Note – This position is based at our Toronto office and requires in-person attendance.

What We're Looking For

The Equity Research Associate will be in charge of supporting the Research Analyst with tasks that will include:

  • Build and maintain Excel-based financial models, including income statements, balance sheets, cash flow statements, and discounted cash flow analysis;
  • Develop written product with modest direction from the senior level Research Analyst;
  • Read, understand and assess both NI technical reports and financial statements;
  • Rudimentary ability to follow and synthesize macroeconomic data as it pertains to precious/base metals pricing and outlook;
  • Analyze information obtained from management in order to conceptualize and define operational problems;
  • Perform validation and testing of models to ensure adequacy; reformulate models as necessary;
  • Build and update comp sheets;
  • Collaborate with the broader mining team on idea generation, combined written publications;
  • Manage databases and electronic data services (i.e. Bloomberg, FactSet, Cap IQ etc.);
  • Must be able to clearly state and defend the Analyst's investment thesis and outlook for each of the stocks under coverage;
  • Respond to basic questions from institutional sales and clients regarding covered companies, and industry questions and data requests;
  • Able to evaluate basic valuation methodologies for stocks under coverage and the broader sector;
  • Meet the special projects demands of the senior level Research Analysts;
  • Use all resources to determine and locate relevant data;
  • Continue to build industry knowledge and find avenues for independent investigation in the sector; and
  • Willing to occasionally travel to visit mining and exploration projects.
What You'll Bring

A high regard for detail and accuracy are essential. The role of the Equity Research Associate is challenging and fast-paced. It requires dedication, passion for the industry, and a solid work ethic.

The successful candidate will possess:

  • Excellent communication skills, both written and verbal;
  • Skills in primary research, interviewing and data gathering;
  • Strong quantitative skills with comprehensive understanding of accounting, equity analysis, valuation and financial modeling;
  • Creativity with respect to investment analysis and a passionate interest in capital markets and the mining sector;
  • Ability to work under a high pressure and time sensitive environment;
  • Meticulous attention to detail while maintaining an ability to see the overall picture; and 
  • Desire to join and help build a winning team.
Education & Experience
  • One of the following Undergraduate Degrees 1) in business, with a focus on finance with a robust understanding of the mining sector or 2) in Mining Engineering or Geology, with a demonstrated understanding of financial concepts;
  • Minimum 1-2 years full time equity research work experience or 2-4 years of industry experience; and 
  • Advanced qualification (CFA, P. Eng, P. Geo, MBA, or CPA) would be an asset but not required.
Systems & Technology
  • Proficient in Microsoft Office Suite; 
  • Experience using Bloomberg, FactSet or similar platform. 
About Stifel

Stifel Canada ) is a leading provider of investment banking services, including advisory and underwriting, institutional sales and trading and research services. We offer a full suite of focused debt capital markets, equity capital markets, financial advisory, and investment services, delivering superior advice and execution to a broad range of corporate clients and institutional investors worldwide.

Stifel Canada is a subsidiary of Stifel Financial Corp., a public (NYSE – SF) full-service global investment bank with over 8,500 personnel operating in Canada, the United States and Europe. This includes over 400 investment banking professionals serving the needs of growth companies through specialized expertise and strong relationships within its core industries. As a growth company itself, Stifel's passion is in bringing the right combination of people, products and services to the table to help our clients grow and excel for the long term.

At Stifel Canada we offer an entrepreneurial environment, competitive pay, comprehensive benefits package which includes health, dental, fertility, paramedical and vision care, HCSA, wellness initiatives, life insurance, paid parental leave and paid time off.

Inclusiveness and Equal Opportunity

At Stifel Canada we are committed to our vision of an equitable, diverse and inclusive finance industry where people of all genders, races, sexual orientations and abilities have equal opportunity to advance, succeed and lead.

If you require an accommodation for the recruitment process, please let us know and we will work with you to meet your needs.

Applicants will be required to undergo a background check only if and after a conditional offer of employment has been extended.