Buenaventura Mining (NYSE:BVN) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Buenaventura Mining has received a rating upgrade from Zacks Research, moving from "hold" to "strong-buy," indicating increased optimism among analysts regarding the company's prospects.
• Despite the upgrade from Zacks, Wall Street Zen downgraded Buenaventura Mining to "hold," reflecting mixed sentiments among different analysts.
• The company's stock had a significant performance with a one-year range of $11.50 to $20.87, and it reported earnings per share of $0.40, surpassing expectations.

Buenaventura Mining (NYSE:BVN - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Tuesday,Zacks.com reports.

Separately, Wall Street Zen lowered shares of Buenaventura Mining from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $15.50.

Buenaventura Mining Price Performance

Buenaventura Mining stock traded up $0.60 during mid-day trading on Tuesday, reaching $21.51. 1,784,740 shares of the company's stock traded hands, compared to its average volume of 1,260,894. Buenaventura Mining has a 12-month low of $11.50 and a 12-month high of $22.09. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 10.92 and a beta of 0.28. The company has a quick ratio of 2.31, a current ratio of 2.54 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average of $18.60 and a two-hundred day moving average of $16.42.

Buenaventura Mining (NYSE:BVN - Get Free Report) last announced its earnings results on Thursday, July 24th. The mining company reported $0.40 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $338.29 million. Equities analysts forecast that Buenaventura Mining will post 1.13 earnings per share for the current year.

Institutional Trading of Buenaventura Mining

Several institutional investors and hedge funds have recently bought and sold shares of BVN. Helikon Investments Ltd purchased a new stake in Buenaventura Mining during the first quarter worth about $26,686,000. Invesco Ltd. boosted its holdings 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 purchasing an additional 606,862 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Buenaventura Mining by 12.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,502,101 shares of the mining company's stock valued at $85,998,000 after purchasing an additional 591,482 shares in the last quarter. Polunin Capital Partners Ltd acquired a new stake in shares of Buenaventura Mining in the first quarter valued at approximately $7,804,000. Finally, Artisan Partners Limited Partnership boosted its holdings in shares of Buenaventura Mining by 69.4% in the second quarter. Artisan Partners Limited Partnership now owns 1,217,376 shares of the mining company's stock valued at $19,989,000 after acquiring an additional 498,585 shares during the period.

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.