JEC Jacobs Engineering Group Inc

Jacobs Engineering Group Inc. (JEC) recently announced that it has been selected by Midway Gold Corp. (Midway) to provide front-end engineering of infrastructure service at Pan Mine Project in White Pine County, Nevada. However, the terms of the contract were not divulged.

As per the contract, Jacobs will deliver front-end engineering service for the mine infrastructure including buildings, roads, electrical and water supply at Midway’s first producing gold mine.

Of late, Jacobs has secured two back-to-back strategic contracts from Methanex Corporation, the world’s largest methanol supplier to major international markets, and Shell Global Solutions International B.V. ("Shell"), respectively. These marked the company’s continued diversification and international exposure through various contract wins. Continuing with its winning spree, the latest selection as a service provider for Pan Mine Project is also expected to strengthen its infrastructure capabilities to serve the mining and minerals industry across verticals and geographies.

Getting awarded frequently with such strategic contracts for such complex projects reflects client satisfaction on Jacobs. This holds the sheer hope of retaining the long standing relationship with clients and investor confidence on the company going forward.

Jacobs, the world's largest and most diverse provider of technical, professional, and construction services, provides stiff competition to other industry players like Fluor Corporation (FLR) and Foster Wheeler AG (FWLT). We currently maintain a Neutral recommendation on Jacobs. The stock also carries a Zacks #2 Rank, which implies a short-term (1-3 months) Buy rating.

The current Zacks Consensus Estimate is pegged at 80 cents for the company.

 
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