Buenaventura Mining (NYSE:BVN) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Key Points

• Buenaventura Mining exceeded quarterly expectations: The company reported earnings of $0.96 per share, beating the $0.86 consensus estimate, while revenue reached $545.33 million versus expectations of $439.69 million.
• Shares fell despite the earnings beat, declining $1.39 to $26.20 in Friday midday trading. The stock has a $6.65 billion market capitalization, a low 5.90 price-to-earnings ratio, and trades well below its 12-month high of $44.67.
• Analyst sentiment remains moderately positive: BVN has a consensus “Moderate Buy” rating and an average price target of $37.25, although Scotiabank and Morgan Stanley recently reduced their price targets.

Buenaventura Mining (NYSE:BVN - Get Free Report) posted its earnings results on Thursday. The mining company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.10, FiscalAI reports. The firm had revenue of $545.33 million during the quarter, compared to the consensus estimate of $439.69 million. Buenaventura Mining had a net margin of 50.88% and a return on equity of 26.53%.

Buenaventura Mining Price Performance

Shares of NYSE:BVN traded down $1.39 during midday trading on Friday, reaching $26.20. 665,775 shares of the company's stock were exchanged, compared to its average volume of 1,313,717. The firm has a market capitalization of $6.65 billion, a PE ratio of 5.90 and a beta of 0.43. Buenaventura Mining has a 12 month low of $21.04 and a 12 month high of $44.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.43 and a current ratio of 2.59. The company's 50 day simple moving average is $32.52 and its two-hundred day simple moving average is $33.94.

Analyst Ratings Changes

A number of equities analysts have weighed in on BVN shares. Scotiabank decreased their price target on shares of Buenaventura Mining from $44.00 to $40.00 and set a "sector perform" rating on the stock in a report on Tuesday, July 14th. Morgan Stanley decreased their target price on Buenaventura Mining from $42.50 to $34.50 and set an "overweight" rating for the company in a research report on Wednesday, July 8th. Zacks Research upgraded shares of Buenaventura Mining from a "strong sell" rating to a "hold" rating in a research report on Tuesday, October 13th. Weiss Ratings reissued a "buy (b-)" rating on shares of Buenaventura Mining in a report on Thursday. Finally, Wall Street Zen raised Buenaventura Mining from a "hold" rating to a "buy" rating in a research report on Saturday, October 10th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $37.25.

About Buenaventura Mining

Compañía de Minas Buenaventura SAA., known as Buenaventura Mining, is a Peru-based mining company engaged in the exploration, development, construction, and operation of mineral projects. Its portfolio includes precious and base metals, with primary exposure to gold, silver, copper, lead, and zinc.

Founded in 1953, Buenaventura operates primarily in Peru. Its activities have included the Uchucchacua, Tambomayo, La Zanja, Coimolache, and El Brocal mining operations, as well as exploration and development projects across the country.

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