Buenaventura Mining Company Inc. $BVN Shares Purchased by ABS Direct Equity Fund LLC

Key Points

• ABS Direct Equity Fund LLC increased its Buenaventura Mining stake by 309.2% in the second quarter, acquiring 40,200 additional shares for a total holding of 53,200 shares valued at approximately $1.56 million.
• Analyst sentiment remains moderately positive, with the stock carrying an average “Moderate Buy” rating and a $37.25 average price target, although Morgan Stanley and Scotiabank recently lowered their targets.
• Buenaventura reported quarterly EPS of $0.94, below the $0.99 consensus estimate, while revenue of $528.99 million also missed expectations of $610 million; shares opened at $33.84, down 4.4%.

ABS Direct Equity Fund LLC boosted its holdings in shares of Buenaventura Mining Company Inc. (NYSE:BVN - Free Report) by 309.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,200 shares of the mining company's stock after purchasing an additional 40,200 shares during the quarter. Buenaventura Mining makes up 1.4% of ABS Direct Equity Fund LLC's holdings, making the stock its 25th largest position. ABS Direct Equity Fund LLC's holdings in Buenaventura Mining were worth $1,558,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BVN. National Pension Service grew its stake in Buenaventura Mining by 1.3% in the 2nd quarter. National Pension Service now owns 45,616 shares of the mining company's stock valued at $1,336,000 after acquiring an additional 589 shares during the period. Squarepoint Ops LLC acquired a new position in Buenaventura Mining during the second quarter worth $1,652,000. Nykredit A S purchased a new position in Buenaventura Mining during the second quarter valued at $2,560,000. Corient Private Wealth LP lifted its holdings in Buenaventura Mining by 14.9% during the second quarter. Corient Private Wealth LP now owns 19,452 shares of the mining company's stock valued at $570,000 after purchasing an additional 2,516 shares in the last quarter. Finally, Centrica Wealth Management LLC purchased a new position in Buenaventura Mining during the second quarter valued at $131,547,000.

Analysts Set New Price Targets

BVN has been the subject of a number of research reports. Morgan Stanley cut their target price 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. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Buenaventura Mining in a research note on Friday, July 31st. Scotiabank lowered their price objective on Buenaventura Mining from $44.00 to $40.00 and set a "sector perform" rating on the stock in a report on Tuesday, July 14th. Finally, Wall Street Zen lowered Buenaventura Mining from a "buy" rating to a "hold" rating in a research note on Sunday, August 16th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Buenaventura Mining currently has an average rating of "Moderate Buy" and an average price target of $37.25.

Buenaventura Mining Trading Down 4.4%

BVN opened at $33.84 on Friday. The firm has a market capitalization of $8.59 billion, a price-to-earnings ratio of 7.66 and a beta of 0.46. The company's 50 day simple moving average is $32.61 and its two-hundred day simple moving average is $33.92. Buenaventura Mining Company Inc. has a 1-year low of $19.55 and a 1-year high of $44.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.59 and a quick ratio of 2.43.

Buenaventura Mining (NYSE:BVN - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The mining company reported $0.94 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $610.00 million. Analysts expect that Buenaventura Mining Company Inc. will post 3.93 EPS for the current fiscal year.

Buenaventura Mining 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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