Buenaventura Mining (NYSE:BVN) Reaches New 52-Week High - Should You Buy?

Key Points

• Buenaventura Mining shares reached a new 12-month high of $18.32, closing at $18.19, highlighting a positive market response.
• Scotiabank upgraded its target price for the company from $15.00 to $15.50, while Wall Street Zen upgraded Buenaventura Mining from a "hold" to a "buy" rating.
• The company reported $0.40 earnings per share, exceeding expectations, with a net margin of 38.38% and projected earnings of 1.13 per share for the current fiscal year.

Shares of Buenaventura Mining Company Inc. (NYSE:BVN - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $18.32 and last traded at $18.19, with a volume of 64285 shares traded. The stock had previously closed at $17.90.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Scotiabank lifted their target price on shares of Buenaventura Mining from $15.00 to $15.50 and gave the stock a "sector perform" rating in a research note on Monday, April 14th. Wall Street Zen cut shares of Buenaventura Mining from a "buy" rating to a "hold" rating in a research note on Sunday.

Buenaventura Mining Stock Down 1.1%

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 market capitalization of $4.64 billion, a PE ratio of 9.28 and a beta of 0.34. The business's 50-day simple moving average is $16.84 and its 200-day simple moving average is $15.05.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.10. The company had revenue of $369.50 million during the quarter, compared to analyst estimates of $338.29 million. Buenaventura Mining had a net margin of 38.38% and a return on equity of 9.47%. As a group, equities research analysts anticipate that Buenaventura Mining Company Inc. will post 1.13 EPS for the current fiscal year.

Institutional Trading of Buenaventura Mining

Several institutional investors have recently bought and sold shares of BVN. Caitong International Asset Management Co. Ltd purchased a new position in shares of Buenaventura Mining during the 2nd quarter valued at approximately $28,000. Brooklyn Investment Group raised its holdings in shares of Buenaventura Mining by 1,363.9% during the first quarter. Brooklyn Investment Group now owns 1,947 shares of the mining company's stock valued at $30,000 after acquiring an additional 1,814 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Buenaventura Mining in the first quarter valued at approximately $36,000. Headlands Technologies LLC purchased a new position in shares of Buenaventura Mining in the first quarter valued at approximately $37,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Buenaventura Mining by 24.9% in the second quarter. PNC Financial Services Group Inc. now owns 8,210 shares of the mining company's stock worth $135,000 after acquiring an additional 1,637 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.