Buenaventura Mining (NYSE:BVN) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Buenaventura Mining from “hold” to “buy,” though overall analyst sentiment remains “Hold” with a consensus price target of $37.25.
• Analyst views are mixed: Scotiabank and Morgan Stanley lowered their price targets, while Weiss Ratings maintained a buy rating and Zacks Research issued a strong sell rating.
• Buenaventura reported quarterly earnings of $0.94 per share, below the $0.99 consensus estimate, while revenue of $528.99 million also missed expectations; the stock opened at $32.45, with a market capitalization of $8.23 billion.

Buenaventura Mining (NYSE:BVN - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other analysts also recently commented on BVN. Scotiabank decreased their target price on 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. Morgan Stanley dropped their price target on Buenaventura Mining from $42.50 to $34.50 and set an "overweight" rating for the company in a research report on Wednesday, July 8th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Buenaventura Mining in a research note on Friday, July 31st. Finally, Zacks Research lowered shares of Buenaventura Mining from a "hold" rating to a "strong sell" rating in a research report on Monday, September 14th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Buenaventura Mining has an average rating of "Hold" and a consensus target price of $37.25.

Buenaventura Mining Price Performance

BVN stock opened at $32.45 on Friday. The firm has a 50 day moving average of $33.57 and a 200-day moving average of $33.22. Buenaventura Mining has a 12-month low of $21.00 and a 12-month high of $44.67. The company has a current ratio of 2.59, a quick ratio of 2.43 and a debt-to-equity ratio of 0.15. The company has a market cap of $8.23 billion, a price-to-earnings ratio of 7.34 and a beta of 0.43.

Buenaventura Mining (NYSE:BVN - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The mining company reported $0.94 earnings per share 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 firm had revenue of $528.99 million during the quarter, compared to analyst estimates of $610.00 million. As a group, equities analysts expect that Buenaventura Mining will post 3.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Buenaventura Mining

A number of large investors have recently bought and sold shares of the stock. Centrica Wealth Management LLC purchased a new position in Buenaventura Mining during the second quarter worth $131,547,000. Bank of Nova Scotia lifted its position in shares of Buenaventura Mining by 83.0% in the first quarter. Bank of Nova Scotia now owns 2,520,383 shares of the mining company's stock valued at $90,835,000 after acquiring an additional 1,143,072 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Buenaventura Mining by 32.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,301,015 shares of the mining company's stock valued at $82,929,000 after acquiring an additional 558,186 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Buenaventura Mining by 140.8% during the first quarter. Jennison Associates LLC now owns 1,267,998 shares of the mining company's stock valued at $45,699,000 after acquiring an additional 741,344 shares during the last quarter. Finally, Royal Bank of Canada increased its position in Buenaventura Mining by 13,674.3% during the 1st quarter. Royal Bank of Canada now owns 720,810 shares of the mining company's stock worth $25,977,000 after purchasing an additional 715,577 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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