Buenaventura Mining (NYSE:BVN) Sets New 52-Week High - Here's What Happened

Key Points

• Buenaventura Mining shares reached a new 52-week high, trading at $20.49, representing a 0.3% increase from the previous close.
• The company was downgraded from a "buy" to a "hold" rating by Wall Street Zen, with the consensus rating now at "Moderate Buy" and a price target of $16.75.
• Buenaventura Mining reported quarterly earnings of $0.40 per share, exceeding estimates and achieving a revenue of $369.50 million compared to expectations of $338.29 million.

Shares of Buenaventura Mining Company Inc. (NYSE:BVN - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $20.49 and last traded at $20.36, with a volume of 27982 shares changing hands. The stock had previously closed at $20.18.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Buenaventura Mining from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $16.75.

Buenaventura Mining Stock Performance

The business's fifty day moving average price is $18.28 and its 200-day moving average price is $16.20. The stock has a market cap of $5.11 billion, a PE ratio of 10.22 and a beta of 0.28. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.31 and a current ratio of 2.54.

Buenaventura Mining (NYSE:BVN - Get Free Report) last posted its earnings results on Thursday, July 24th. The mining company reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.10. Buenaventura Mining had a net margin of 38.38% and a return on equity of 9.47%. The business had revenue of $369.50 million during the quarter, compared to the consensus estimate of $338.29 million. As a group, equities research analysts forecast that Buenaventura Mining Company Inc. will post 1.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Buenaventura Mining

A number of hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd bought a new position in Buenaventura Mining in the 2nd quarter worth $28,000. Brooklyn Investment Group grew its stake in Buenaventura Mining by 1,363.9% in the 1st quarter. Brooklyn Investment Group now owns 1,947 shares of the mining company's stock worth $30,000 after acquiring an additional 1,814 shares in the last quarter. Raymond James Financial Inc. bought a new position in Buenaventura Mining in the 2nd quarter worth about $32,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Buenaventura Mining in the 1st quarter worth about $36,000. Finally, Headlands Technologies LLC bought a new position in Buenaventura Mining in the 1st quarter worth about $37,000.

Buenaventura Mining Company Profile

Compañía de Minas Buenaventura SAA. engages in the exploration, development, construction, and operation of mineral processing business. The company explores for gold, silver, lead, zinc, and copper metals. It operates operating mining units, including Tambomayo located in the Caylloma province, Orcopampa Unit located in the province of Castilla, Uchucchacua located in province of Oyón, Julcani located in province of Angaraes, Peru, as well as San Gabrie located in the province of General Sánchez Cerro, in the Moquegua region.