Buenaventura Mining (NYSE:BVN) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Buenaventura Mining from “hold” to “strong sell,” while the broader analyst consensus remains “hold” with a $37.25 price target.
• 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.
• BVN opened at $33.25, with a market capitalization of $8.44 billion and a 52-week trading range of $19.55 to $44.67; several institutional investors nevertheless increased or initiated positions during the second quarter.

Buenaventura Mining (NYSE:BVN - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued on Monday, Zacks reports.

Other research analysts have also recently issued reports about the stock. Scotiabank decreased their price objective 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. Weiss Ratings reiterated a "buy (b-)" rating on shares of Buenaventura Mining in a research report on Friday, July 31st. Wall Street Zen cut shares of Buenaventura Mining from a "buy" rating to a "hold" rating in a research note on Sunday, August 16th. Finally, Morgan Stanley decreased their price target on shares of Buenaventura Mining from $42.50 to $34.50 and set an "overweight" rating on the stock in a report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Buenaventura Mining currently has a consensus rating of "Hold" and a consensus price target of $37.25.

Buenaventura Mining Stock Performance

NYSE:BVN opened at $33.25 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.59 and a quick ratio of 2.43. The business has a fifty day simple moving average of $32.85 and a two-hundred day simple moving average of $33.80. Buenaventura Mining has a 1 year low of $19.55 and a 1 year high of $44.67. The company has a market capitalization of $8.44 billion, a P/E ratio of 7.52 and a beta of 0.46.

Buenaventura Mining (NYSE:BVN - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The mining company reported $0.94 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $610.00 million. On average, analysts expect that Buenaventura Mining will post 3.93 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BVN. ABS Direct Equity Fund LLC boosted its position in Buenaventura Mining by 309.2% during 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 acquiring an additional 40,200 shares in the last quarter. National Pension Service raised its position in shares of Buenaventura Mining by 1.3% in the 2nd quarter. National Pension Service now owns 45,616 shares of the mining company's stock worth $1,336,000 after acquiring an additional 589 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Buenaventura Mining in the 2nd quarter valued at approximately $1,652,000. Nykredit A S purchased a new position in shares of Buenaventura Mining in the 2nd quarter valued at approximately $2,560,000. Finally, Corient Private Wealth LP boosted its position in shares of Buenaventura Mining by 14.9% during the second quarter. Corient Private Wealth LP now owns 19,452 shares of the mining company's stock valued at $570,000 after purchasing an additional 2,516 shares in the last quarter.

Buenaventura Mining Company Profile

Buenaventura Mining Company, formally Compañía de Minas Buenaventura SAA., is a Peru-based precious and base metals mining company. Its activities include the exploration, development, construction, and operation of mining projects, with production primarily focused on gold, silver, lead, zinc, and copper.

Founded in 1953, Buenaventura has developed and operated mining assets throughout Peru. Its portfolio has included the Tambomayo, Orcopampa, Uchucchacua, and Yumpag operations, as well as interests in other Peruvian mining projects.

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