Buenaventura Mining (NYSE:BVN) Raised to Hold at Zacks Research

Key Points

• Zacks Research upgraded Buenaventura Mining from “strong sell” to “hold,” while the broader analyst consensus remains “Moderate Buy” with a target price of $37.25.
• BVN shares opened at $30.56 and were down 3.0%, trading below their 50-day and 200-day moving averages; the stock has a 52-week range of $21.00 to $44.67.
• The company’s latest quarterly results fell short of expectations, reporting $0.94 in earnings per share versus a $0.99 estimate and revenue of $528.99 million versus $610 million expected.

Buenaventura Mining (NYSE:BVN - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Tuesday, Zacks reports.

Several other analysts have also recently commented on the stock. Morgan Stanley reduced their price objective on shares of Buenaventura Mining from $42.50 to $34.50 and set an "overweight" rating for the company in a research note on Wednesday, July 8th. Weiss Ratings reissued a "buy (b-)" rating on shares of Buenaventura Mining in a report on Friday, July 31st. Wall Street Zen upgraded shares of Buenaventura Mining from a "hold" rating to a "buy" rating in a research report on Saturday, October 10th. Finally, Scotiabank lowered their target price on shares of Buenaventura Mining from $44.00 to $40.00 and set a "sector perform" rating on the stock in a research report on Tuesday, July 14th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.25.

Buenaventura Mining Trading Down 3.0%

NYSE:BVN opened at $30.56 on Tuesday. Buenaventura Mining has a 1 year low of $21.00 and a 1 year high of $44.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.43 and a current ratio of 2.59. The stock has a fifty day moving average price of $33.55 and a two-hundred day moving average price of $33.21. The stock has a market capitalization of $7.75 billion, a price-to-earnings ratio of 6.91 and a beta of 0.43.

Buenaventura Mining (NYSE:BVN - Get Free Report) last issued its earnings results on Thursday, July 30th. The mining company reported $0.94 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.05). Buenaventura Mining had a return on equity of 26.53% and a net margin of 50.88%. The company had revenue of $528.99 million for the quarter, compared to analysts' expectations of $610.00 million. As a group, sell-side analysts anticipate that Buenaventura Mining will post 3.99 earnings per share for the current fiscal year.

Institutional Trading of Buenaventura Mining

Institutional investors have recently bought and sold shares of the company. Mather Group LLC. acquired a new stake in shares of Buenaventura Mining in the third quarter valued at approximately $31,000. Perpetual Ltd acquired a new position in shares of Buenaventura Mining during the 3rd quarter worth approximately $1,667,000. Andra AP fonden raised its position in shares of Buenaventura Mining by 171.3% during the 2nd quarter. Andra AP fonden now owns 294,100 shares of the mining company's stock worth $8,614,000 after purchasing an additional 185,700 shares during the last quarter. ABS Direct Equity Fund LLC lifted its stake in Buenaventura Mining by 309.2% in the 2nd quarter. ABS Direct Equity Fund LLC now owns 53,200 shares of the mining company's stock valued at $1,558,000 after buying an additional 40,200 shares in the last quarter. Finally, National Pension Service lifted its stake in Buenaventura Mining by 1.3% in the 2nd quarter. National Pension Service now owns 45,616 shares of the mining company's stock valued at $1,336,000 after buying an additional 589 shares in the last quarter.

About Buenaventura Mining

Compañía de Minas Buenaventura SAA., known as Buenaventura Mining, is a Peru-based mining company engaged in the exploration, development, construction, and operation of mineral projects. Its portfolio has historically focused on precious and base metals, including gold, silver, lead, and zinc.

Founded in 1953, Buenaventura operates primarily in Peru and has developed interests in several mining districts throughout the country. Its activities have included underground and open-pit mining, mineral processing, exploration, and project development.

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