Bank of New York Mellon Corp Increases Stock Position in Buenaventura Mining Company Inc. (NYSE:BVN)

Key Points

• Bank of New York Mellon Corp increased its stake in Buenaventura Mining by 19.0%, acquiring an additional 37,482 shares, bringing its total holdings to 234,684 shares, valued at approximately $3.67 million.
• Analysts have varied opinions on Buenaventura Mining, with Wall Street Zen downgrading the stock from a "buy" to a "hold," while Scotiabank raised its price target from $15.00 to $15.50.
• Buenaventura Mining reported earnings of $0.40 per share for the recent quarter, surpassing expectations and achieving a revenue of $369.50 million against a forecast of $338.29 million.

Bank of New York Mellon Corp increased its stake in shares of Buenaventura Mining Company Inc. (NYSE:BVN - Free Report) by 19.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 234,684 shares of the mining company's stock after buying an additional 37,482 shares during the quarter. Bank of New York Mellon Corp owned about 0.09% of Buenaventura Mining worth $3,668,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Natixis Advisors LLC acquired a new position in Buenaventura Mining in the fourth quarter valued at approximately $248,000. Sei Investments Co. raised its position in Buenaventura Mining by 9.5% in the fourth quarter. Sei Investments Co. now owns 28,841 shares of the mining company's stock valued at $332,000 after purchasing an additional 2,500 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Buenaventura Mining in the 4th quarter valued at $1,059,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Buenaventura Mining by 8.0% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 204,046 shares of the mining company's stock worth $2,351,000 after purchasing an additional 15,072 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Buenaventura Mining by 23.9% during the 4th quarter. JPMorgan Chase & Co. now owns 2,103,645 shares of the mining company's stock worth $24,234,000 after purchasing an additional 405,601 shares during the period.

Analysts Set New Price Targets

BVN has been the topic of several research analyst reports. Scotiabank boosted their price objective on shares of Buenaventura Mining from $15.00 to $15.50 and gave the company a "sector perform" rating in a report on Monday, April 14th. Wall Street Zen downgraded shares of Buenaventura Mining from a "buy" rating to a "hold" rating in a research note on Friday, July 18th.

Buenaventura Mining Stock Down 2.9%

Shares of BVN stock traded down $0.51 during trading on Wednesday, reaching $17.10. The company's stock had a trading volume of 1,218,738 shares, compared to its average volume of 732,048. The stock's 50-day moving average price is $16.43 and its 200 day moving average price is $14.78. The company has a market capitalization of $4.34 billion, a price-to-earnings ratio of 8.68 and a beta of 0.43. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.75 and a quick ratio of 1.58. Buenaventura Mining Company Inc. has a 1-year low of $11.50 and a 1-year high of $17.98.

Buenaventura Mining (NYSE:BVN - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The mining company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.30 by $0.10. Buenaventura Mining had a net margin of 38.38% and a return on equity of 9.63%. The company had revenue of $369.50 million during the quarter, compared to analysts' expectations of $338.29 million. On average, research analysts anticipate that Buenaventura Mining Company Inc. will post 1.13 EPS for the current year.

About Buenaventura Mining

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.