Buenaventura Mining (NYSE:BVN) Reaches New 52-Week High - Time to Buy?

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) hit a new 52-week high on Friday . The stock traded as high as $20.49 and last traded at $20.36, with a volume of 27982 shares traded. The stock had previously closed at $20.18.

Analyst Ratings Changes

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

Buenaventura Mining Trading Down 0.6%

The stock has a market capitalization of $5.09 billion, a P/E ratio of 10.18 and a beta of 0.28. The company has a current ratio of 2.54, a quick ratio of 2.31 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $18.12 and a 200 day moving average price of $16.11.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its position in Buenaventura Mining by 1,534.8% during the 4th quarter. BNP Paribas Financial Markets now owns 149,876 shares of the mining company's stock valued at $1,727,000 after buying an additional 140,708 shares in the last quarter. Nuveen Asset Management LLC raised its stake in Buenaventura Mining by 0.6% in the fourth quarter. Nuveen Asset Management LLC now owns 416,237 shares of the mining company's stock valued at $4,795,000 after buying an additional 2,500 shares during the last quarter. Quantinno Capital Management LP raised its stake in Buenaventura Mining by 67.0% in the fourth quarter. Quantinno Capital Management LP now owns 18,009 shares of the mining company's stock valued at $207,000 after buying an additional 7,225 shares during the last quarter. Point72 Asset Management L.P. raised its stake in Buenaventura Mining by 3.3% in the fourth quarter. Point72 Asset Management L.P. now owns 78,100 shares of the mining company's stock valued at $900,000 after buying an additional 2,500 shares during the last quarter. Finally, TFG Asset Management GP Ltd purchased a new stake in Buenaventura Mining in the fourth quarter valued at about $426,000.

About Buenaventura Mining

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.