Buenaventura Mining (NYSE:BVN) Hits New 1-Year High - What's Next?

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.

Buenaventura Mining Company Inc. (NYSE:BVN - Get Free Report) shares 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 trading hands. The stock had previously closed at $17.90.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Wall Street Zen upgraded Buenaventura Mining from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Scotiabank lifted their price objective on shares of Buenaventura Mining from $15.00 to $15.50 and gave the company a "sector perform" rating in a report on Monday, April 14th.

Buenaventura Mining Trading Up 0.2%

The firm has a market capitalization of $4.70 billion, a P/E ratio of 9.36 and a beta of 0.34. The stock has a 50-day simple moving average of $16.77 and a two-hundred day simple moving average of $14.99. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.23.

Buenaventura Mining (NYSE:BVN - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The mining company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.30 by $0.10. The firm had revenue of $369.50 million for 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, equities research analysts anticipate that Buenaventura Mining Company Inc. will post 1.13 earnings per share for the current year.

Institutional Investors Weigh In On Buenaventura Mining

Several large investors have recently modified their holdings of BVN. Caitong International Asset Management Co. Ltd purchased a new position in Buenaventura Mining during the second quarter valued at approximately $28,000. Brooklyn Investment Group boosted its position in Buenaventura Mining by 1,363.9% during the 1st 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 in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Buenaventura Mining during the 1st quarter valued at $36,000. Headlands Technologies LLC purchased a new position in shares of Buenaventura Mining in the 1st quarter valued at $37,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Buenaventura Mining by 24.9% in the 2nd 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 in the last quarter.

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.