Buenaventura Mining (NYSE:BVN) Shares Up 5.8% - Here's What Happened

Key Points

• Shares rose 5.8% in mid-day trading to about $34.33, trading as high as $34.20 on light volume (229,924 shares, down ~87% from the average session volume).
• Analysts have trended more bullish recently—with upgrades from Wall Street Zen and Zacks, Weiss reiterating a Buy, Scotiabank raising its price target to $44, and a consensus rating of Buy (average PT $44).
• Buenaventura reported a strong quarter, beating estimates with EPS $1.62 vs. $0.59 expected and revenue of $623.4M (consensus $451.6M), alongside a 45.17% net margin and 20.39% ROE.

Buenaventura Mining Company Inc. (NYSE:BVN - Get Free Report)'s stock price traded up 5.8% during mid-day trading on Friday . The stock traded as high as $34.20 and last traded at $34.3280. 229,924 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 1,724,898 shares. The stock had previously closed at $32.46.

Analyst Ratings Changes

A number of equities analysts have weighed in on BVN shares. Wall Street Zen raised Buenaventura Mining from a "hold" rating to a "buy" rating in a research report on Sunday, March 1st. Weiss Ratings reiterated a "buy (b)" rating on shares of Buenaventura Mining in a research note on Monday, December 29th. Zacks Research raised Buenaventura Mining from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 5th. Finally, Scotiabank increased their price target on Buenaventura Mining from $42.00 to $44.00 and gave the company a "sector perform" rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Buenaventura Mining currently has a consensus rating of "Buy" and an average price target of $44.00.

Buenaventura Mining Stock Up 3.2%

The firm has a market cap of $8.50 billion, a P/E ratio of 10.86 and a beta of 0.26. The firm's fifty day moving average is $37.04 and its 200 day moving average is $29.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.05 and a current ratio of 2.01.

Buenaventura Mining (NYSE:BVN - Get Free Report) last issued its quarterly earnings data on Friday, February 27th. The mining company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $1.03. Buenaventura Mining had a net margin of 45.17% and a return on equity of 20.39%. The firm had revenue of $623.40 million during the quarter, compared to the consensus estimate of $451.60 million. As a group, equities research analysts anticipate that Buenaventura Mining Company Inc. will post 1.13 earnings per share for the current fiscal year.

Institutional Trading of Buenaventura Mining

Several institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position in Buenaventura Mining by 1,725.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,917 shares of the mining company's stock worth $55,000 after buying an additional 1,812 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Buenaventura Mining in the second quarter valued at about $32,000. Rockefeller Capital Management L.P. boosted its position in shares of Buenaventura Mining by 199.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,449 shares of the mining company's stock valued at $96,000 after acquiring an additional 2,298 shares during the period. Headlands Technologies LLC grew its stake in shares of Buenaventura Mining by 60.9% in the second quarter. Headlands Technologies LLC now owns 3,761 shares of the mining company's stock valued at $62,000 after acquiring an additional 1,424 shares in the last quarter. Finally, Assetmark Inc. grew its stake in shares of Buenaventura Mining by 463.4% in the fourth quarter. Assetmark Inc. now owns 3,983 shares of the mining company's stock valued at $111,000 after acquiring an additional 3,276 shares in the last quarter.

Buenaventura Mining Company Profile

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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