Buenaventura Mining (NYSE:BVN) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Buenaventura Mining to “Hold” from “Buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $37.25.
• BVN shares opened at $33.81, with a market capitalization of approximately $8.58 billion; the stock has traded between $18.01 and $44.67 over the past year.
• The company’s latest quarterly results missed expectations, reporting $0.94 in earnings per share versus a $0.99 estimate and revenue of $528.99 million versus $610 million expected.

Buenaventura Mining (NYSE:BVN - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Sunday.

A number of other equities analysts also recently commented on the company. Scotiabank decreased their target price on Buenaventura Mining from $44.00 to $40.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 14th. Morgan Stanley dropped their price target on Buenaventura Mining from $42.50 to $34.50 and set an "overweight" rating on the stock in a research report on Wednesday, July 8th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Buenaventura Mining in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $37.25.

Buenaventura Mining Trading Up 0.4%

Buenaventura Mining stock opened at $33.81 on Friday. Buenaventura Mining has a 1 year low of $18.01 and a 1 year high of $44.67. The firm's 50-day moving average is $31.44 and its 200-day moving average is $34.34. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.88 and a current ratio of 2.01. The company has a market cap of $8.58 billion, a P/E ratio of 7.65 and a beta of 0.43.

Buenaventura Mining (NYSE:BVN - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $528.99 million for the quarter, compared to the consensus estimate of $610.00 million. Buenaventura Mining had a net margin of 50.88% and a return on equity of 27.72%. On average, equities analysts expect that Buenaventura Mining will post 4.37 earnings per share for the current year.

Institutional Trading of Buenaventura Mining

Several hedge funds have recently bought and sold shares of BVN. Goldman Sachs Group Inc. grew its position in Buenaventura Mining by 27.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 427,509 shares of the mining company's stock worth $6,682,000 after purchasing an additional 93,021 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Buenaventura Mining by 2.0% during 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 buying an additional 25,440 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Buenaventura Mining during the second quarter valued at approximately $345,000. Invesco Ltd. boosted its position in shares of Buenaventura Mining by 2,318.6% during the second quarter. Invesco Ltd. now owns 633,036 shares of the mining company's stock worth $10,394,000 after buying an additional 606,862 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Buenaventura Mining by 691.4% during the second quarter. Sei Investments Co. now owns 228,246 shares of the mining company's stock worth $3,748,000 after buying an additional 199,405 shares during the period.

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.

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