Buenaventura Mining Company Inc. Declares Special Dividend of $0.99 (NYSE:BVN)

Key Points

• Special dividend of $0.9904 per share declared; shareholders of record April 21 (ex-dividend April 21) will be paid on May 12.
• The dividend appears sustainable—Buenaventura has a current payout ratio of 57.4% and analysts forecast $1.48 EPS next year, implying a projected payout ratio of about 73% against a $1.08 annual dividend.
• Buenaventura beat expectations last quarter with $1.62 EPS (vs. $0.59 est.) and $623.4M revenue, showing a 45.17% net margin and 20.39% ROE; the stock trades at a PE of 11.6 with a market cap around $9.06B.

Buenaventura Mining Company Inc. (NYSE:BVN - Get Free Report) announced a special dividend on Thursday, April 2nd. Shareholders of record on Tuesday, April 21st will be given a dividend of 0.9904 per share by the mining company on Tuesday, May 12th. The ex-dividend date is Tuesday, April 21st.

Buenaventura Mining has a payout ratio of 57.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Buenaventura Mining to earn $1.48 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 73.0%.

Buenaventura Mining Trading Down 1.3%

NYSE:BVN opened at $35.72 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.01 and a quick ratio of 1.88. The firm has a 50-day moving average of $36.98 and a 200-day moving average of $31.00. The company has a market cap of $9.06 billion, a PE ratio of 11.60 and a beta of 0.40. Buenaventura Mining has a one year low of $13.46 and a one year high of $44.67.

Buenaventura Mining (NYSE:BVN - Get Free Report) last posted its earnings results on Friday, February 27th. The mining company reported $1.62 EPS for the quarter, topping the consensus estimate of $0.59 by $1.03. The company had revenue of $623.40 million during the quarter, compared to the consensus estimate of $451.60 million. Buenaventura Mining had a net margin of 45.17% and a return on equity of 20.39%. As a group, equities research analysts expect that Buenaventura Mining will post 1.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BVN. Goldman Sachs Group Inc. boosted its stake in Buenaventura Mining by 27.8% in the first quarter. Goldman Sachs Group Inc. now owns 427,509 shares of the mining company's stock valued at $6,682,000 after acquiring an additional 93,021 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Buenaventura Mining by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,278,411 shares of the mining company's stock valued at $19,982,000 after acquiring an additional 25,440 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Buenaventura Mining in the second quarter valued at about $345,000. Invesco Ltd. boosted its stake in Buenaventura Mining by 2,318.6% in the second quarter. Invesco Ltd. now owns 633,036 shares of the mining company's stock valued at $10,394,000 after acquiring an additional 606,862 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in Buenaventura Mining by 691.4% in the second quarter. Sei Investments Co. now owns 228,246 shares of the mining company's stock valued at $3,748,000 after acquiring an additional 199,405 shares during the last quarter.

About Buenaventura Mining

Compañía de Minas Buenaventura SAA. NYSE: BVN is one of Peru's leading precious metals producers, primarily engaged in the exploration, development and operation of gold, silver and base metal mines. Headquartered in Lima, the company's core activities cover the entire mining cycle from concession acquisition and project evaluation to extraction, milling and metal refining. Buenaventura also holds interests in smelting, refining and trading services, enabling it to market its products both domestically and internationally.

The company's principal assets include several operating mines in Peru such as Uchucchacua (silver-lead-zinc), Orcopampa (gold-silver) and the Tambomayo gold mine.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.