Buenaventura Mining (NYSE:BVN) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Buenaventura Mining (NYSE: BVN) shares have crossed above their 200-day moving average of $17.51, reaching a high of $26.55 and last trading at $25.60 with significant volume of over 2.25 million shares.
• Analysts are divided on Buenaventura Mining's stock, with Zacks upgrading it to a "strong-buy" rating and others maintaining a "buy" or "hold" rating, leading to a consensus rating of "Buy" and a target price of $15.50.
• The company recently reported earnings of $0.40 per share for the quarter, exceeding estimates, with revenue of $369.50 million compared to the forecast of $338.29 million and a net margin of 38.38%.

Buenaventura Mining Company Inc. (NYSE:BVN - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $17.51 and traded as high as $26.55. Buenaventura Mining shares last traded at $25.60, with a volume of 2,256,130 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Zacks Research upgraded Buenaventura Mining from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 16th. Wall Street Zen lowered Buenaventura Mining from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Buenaventura Mining in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $15.50.

Buenaventura Mining Trading Up 1.3%

The business has a fifty day moving average of $21.02 and a 200-day moving average of $17.51. The stock has a market capitalization of $6.49 billion, a price-to-earnings ratio of 12.99 and a beta of 0.27. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.54 and a quick ratio of 2.31.

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

Hedge Funds Weigh In On Buenaventura Mining

Several institutional investors and hedge funds have recently modified their holdings of BVN. Lester Murray Antman dba SimplyRich grew its stake in shares of Buenaventura Mining by 1.9% in the 3rd quarter. Lester Murray Antman dba SimplyRich now owns 44,927 shares of the mining company's stock valued at $1,093,000 after buying an additional 822 shares in the last quarter. Headlands Technologies LLC boosted its holdings in shares of Buenaventura Mining by 60.9% during the 2nd quarter. Headlands Technologies LLC now owns 3,761 shares of the mining company's stock worth $62,000 after buying an additional 1,424 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Buenaventura Mining by 24.9% during the second quarter. PNC Financial Services Group Inc. now owns 8,210 shares of the mining company's stock valued at $135,000 after acquiring an additional 1,637 shares during the period. GAMMA Investing LLC boosted its stake in 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 purchasing an additional 1,665 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Buenaventura Mining in the second quarter valued at approximately $28,000.

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.

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