Andra AP fonden Grows Position in Buenaventura Mining Company Inc. $BVN

Key Points

• Andra AP fonden increased its Buenaventura Mining stake by 171.3% in the second quarter, acquiring 185,700 additional shares and bringing its holdings to 294,100 shares worth approximately $8.6 million.
• Buenaventura reported quarterly earnings of $0.94 per share, below the $0.99 analyst consensus, while revenue of $529 million also fell short of the $610 million estimate.
• Analyst sentiment is mixed, with ratings ranging from buy to strong sell; the stock has an average “Hold” rating and a consensus price target of $37.25, compared with its recent price of $34.64.

Andra AP fonden raised its stake in shares of Buenaventura Mining Company Inc. (NYSE:BVN - Free Report) by 171.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 294,100 shares of the mining company's stock after acquiring an additional 185,700 shares during the period. Andra AP fonden owned about 0.12% of Buenaventura Mining worth $8,614,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Banque Cantonale Vaudoise bought a new position in shares of Buenaventura Mining during the first quarter valued at about $45,000. Rockefeller Capital Management L.P. lifted its holdings in Buenaventura Mining by 199.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,449 shares of the mining company's stock worth $96,000 after acquiring an additional 2,298 shares during the period. Global Retirement Partners LLC boosted its position in Buenaventura Mining by 3,503.4% in the fourth quarter. Global Retirement Partners LLC now owns 4,216 shares of the mining company's stock worth $117,000 after purchasing an additional 4,099 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Buenaventura Mining in the first quarter worth $212,000. Finally, PNC Financial Services Group Inc. grew its stake in Buenaventura Mining by 56.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 12,445 shares of the mining company's stock valued at $346,000 after purchasing an additional 4,480 shares during the period.

Buenaventura Mining Price Performance

Shares of NYSE BVN opened at $34.64 on Wednesday. The stock has a market cap of $8.79 billion, a PE ratio of 7.84 and a beta of 0.46. Buenaventura Mining Company Inc. has a fifty-two week low of $21.00 and a fifty-two week 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 stock has a fifty day moving average of $33.28 and a 200-day moving average of $33.55.

Buenaventura Mining (NYSE:BVN - Get Free Report) last posted its earnings results on Thursday, July 30th. The mining company reported $0.94 earnings per share for the quarter, missing analysts' consensus estimates of $0.99 by ($0.05). Buenaventura Mining had a net margin of 50.88% and a return on equity of 26.53%. The company had revenue of $528.99 million for the quarter, compared to analysts' expectations of $610.00 million. Equities research analysts anticipate that Buenaventura Mining Company Inc. will post 3.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

BVN has been the subject of a number of research analyst reports. Weiss Ratings restated a "buy (b-)" rating on shares of Buenaventura Mining in a report on Friday, July 31st. Wall Street Zen cut shares of Buenaventura Mining from a "buy" rating to a "hold" rating in a research note on Sunday, August 16th. Zacks Research downgraded shares of Buenaventura Mining from a "hold" rating to a "strong sell" rating in a research report on Monday, September 14th. Morgan Stanley decreased their price target on shares of Buenaventura Mining from $42.50 to $34.50 and set an "overweight" rating for the company in a research note on Wednesday, July 8th. Finally, Scotiabank lowered 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. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $37.25.

Buenaventura Mining Company Profile

Buenaventura Mining Company, formally Compañía de Minas Buenaventura SAA., is a Peru-based precious and base metals mining company. Its activities include the exploration, development, construction, and operation of mining projects, with production primarily focused on gold, silver, lead, zinc, and copper.

Founded in 1953, Buenaventura has developed and operated mining assets throughout Peru. Its portfolio has included the Tambomayo, Orcopampa, Uchucchacua, and Yumpag operations, as well as interests in other Peruvian mining projects.

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