Buenaventura Mining (NYSE:BVN) Reaches New 12-Month High - Here's What Happened

Key Points

• Buenaventura Mining has reached a new 12-month high, trading as high as $26.97, reflecting a significant increase from its previous close at $25.54.
• Analysts have varied ratings on the stock, with a consensus target price of $15.50, indicating mixed market sentiments regarding its future performance.
• The company reported better-than-expected quarterly earnings, with an EPS of $0.40, surpassing the consensus estimate of $0.30.

Buenaventura Mining Company Inc. (NYSE:BVN - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $26.97 and last traded at $26.86, with a volume of 304597 shares trading hands. The stock had previously closed at $25.54.

Analysts Set New Price Targets

BVN has been the subject of several research reports. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Buenaventura Mining in a research report on Wednesday, October 8th. Zacks Research raised shares of Buenaventura Mining from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 16th. Finally, Wall Street Zen lowered shares of 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 Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $15.50.

Buenaventura Mining Stock Up 3.9%

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 firm has a market capitalization of $6.73 billion, a P/E ratio of 13.48 and a beta of 0.27. The company has a 50 day simple moving average of $21.02 and a two-hundred day simple moving average of $17.51.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BVN. GAMMA Investing LLC boosted its position in shares of Buenaventura Mining by 17.1% during the 1st quarter. GAMMA Investing LLC now owns 11,382 shares of the mining company's stock valued at $178,000 after acquiring an additional 1,665 shares during the last quarter. QRG Capital Management Inc. bought a new position in shares of Buenaventura Mining during the 1st quarter valued at approximately $184,000. Bank of New York Mellon Corp boosted its position in shares of Buenaventura Mining by 19.0% during the 1st quarter. Bank of New York Mellon Corp now owns 234,684 shares of the mining company's stock valued at $3,668,000 after acquiring an additional 37,482 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Buenaventura Mining by 14.0% during the 1st quarter. Acadian Asset Management LLC now owns 1,398,194 shares of the mining company's stock valued at $21,849,000 after acquiring an additional 171,815 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Buenaventura Mining by 32.9% during the 1st quarter. Northern Trust Corp now owns 1,642,557 shares of the mining company's stock valued at $25,673,000 after acquiring an additional 406,641 shares during the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.