Acadian Asset Management LLC Purchases 171,815 Shares of Buenaventura Mining Company Inc. $BVN

Key Points

• Acadian Asset Management LLC increased its stake in Buenaventura Mining by 14.0%, owning approximately 1,398,194 shares valued at around $21.85 million.
• Several other institutional investors, including Brooklyn Investment Group and Migdal Insurance, made significant changes to their positions in Buenaventura Mining, reflecting growing interest in the company.
• Wall Street Zen downgraded Buenaventura Mining from a "buy" rating to a "hold" rating, although the company still holds a consensus rating of "Moderate Buy" with a target price of $16.75.

Acadian Asset Management LLC increased its stake in Buenaventura Mining Company Inc. (NYSE:BVN - Free Report) by 14.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,398,194 shares of the mining company's stock after purchasing an additional 171,815 shares during the quarter. Acadian Asset Management LLC owned about 0.55% of Buenaventura Mining worth $21,849,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in shares of Buenaventura Mining by 17.1% in the first 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 in the last quarter. Brooklyn Investment Group grew its position in shares of Buenaventura Mining by 1,363.9% in the first quarter. Brooklyn Investment Group now owns 1,947 shares of the mining company's stock valued at $30,000 after purchasing an additional 1,814 shares in the last quarter. Resona Asset Management Co. Ltd. grew its position in shares of Buenaventura Mining by 4.6% in the first quarter. Resona Asset Management Co. Ltd. now owns 43,580 shares of the mining company's stock valued at $680,000 after purchasing an additional 1,908 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Buenaventura Mining in the first quarter valued at $36,000. Finally, Headlands Technologies LLC bought a new stake in Buenaventura Mining during the first quarter valued at $37,000.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Buenaventura Mining from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $16.75.

Buenaventura Mining Trading Up 2.8%

Shares of NYSE BVN traded up $0.57 during midday trading on Monday, reaching $20.64. The company had a trading volume of 1,775,274 shares, compared to its average volume of 1,024,161. Buenaventura Mining Company Inc. has a one year low of $11.50 and a one year high of $20.87. The company has a quick ratio of 2.31, a current ratio of 2.54 and a debt-to-equity ratio of 0.23. The firm's fifty day moving average price is $18.12 and its 200-day moving average price is $16.11. The stock has a market cap of $5.24 billion, a PE ratio of 10.48 and a beta of 0.28.

Buenaventura Mining (NYSE:BVN - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The mining company reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.10. The business had revenue of $369.50 million during 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.

Buenaventura Mining 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.