Buenaventura Mining Company Inc. $BVN Stake Reduced by Alps Advisors Inc.

Key Points

• Alps Advisors cut its Buenaventura Mining stake by 22.4% in the third quarter, selling 214,411 shares. It retained 744,037 shares, valued at about $23.5 million.
• Buenaventura reported quarterly EPS of $0.96, beating the $0.86 consensus, and revenue of $545.3 million, above the $439.7 million estimate.
• The company declared a special dividend of $0.5508 per share, payable December 9 to shareholders of record November 20. Analysts’ average rating was “Moderate Buy,” with a $37.25 average price target.

Alps Advisors Inc. lowered its position in shares of Buenaventura Mining Company Inc. (NYSE:BVN - Free Report) by 22.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 744,037 shares of the mining company's stock after selling 214,411 shares during the period. Alps Advisors Inc. owned 0.29% of Buenaventura Mining worth $23,497,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its stake in shares of Buenaventura Mining by 4.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 12,949 shares of the mining company's stock valued at $467,000 after acquiring an additional 504 shares during the period. Personal CFO Solutions LLC boosted its stake in shares of Buenaventura Mining by 4.2% in the 1st quarter. Personal CFO Solutions LLC now owns 14,006 shares of the mining company's stock valued at $505,000 after purchasing an additional 563 shares in the last quarter. National Pension Service lifted its position 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 in the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Buenaventura Mining by 3.3% in the third quarter. Asset Management One Co. Ltd. now owns 25,900 shares of the mining company's stock worth $818,000 after acquiring an additional 823 shares during the last quarter. Finally, Mather Group LLC. bought a new stake in Buenaventura Mining during the 3rd quarter worth approximately $31,000.

Buenaventura Mining Stock Down 1.2%

BVN opened at $28.00 on Friday. Buenaventura Mining Company Inc. has a fifty-two week low of $21.68 and a fifty-two week high of $44.67. The firm's fifty day moving average price is $31.55 and its two-hundred day moving average price is $33.72. The company has a market capitalization of $7.10 billion, a P/E ratio of 5.93 and a beta of 0.40. 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 announced its quarterly earnings results on Thursday, October 29th. The mining company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.10. Buenaventura Mining had a return on equity of 27.60% and a net margin of 51.78%. The business had revenue of $545.33 million during the quarter, compared to the consensus estimate of $439.69 million. On average, analysts anticipate that Buenaventura Mining Company Inc. will post 4.01 EPS for the current year.

Buenaventura Mining Announces Dividend

The firm also recently declared a special dividend, which will be paid on Wednesday, December 9th. Stockholders of record on Friday, November 20th will be paid a $0.5508 dividend. The ex-dividend date of this dividend is Friday, November 20th. Buenaventura Mining's dividend payout ratio is presently 23.09%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BVN. Scotiabank cut 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. Weiss Ratings reissued a "buy (b-)" rating on shares of Buenaventura Mining in a research note on Thursday, October 29th. Wall Street Zen raised shares of Buenaventura Mining from a "hold" rating to a "buy" rating in a report on Saturday, October 10th. Finally, Zacks Research upgraded Buenaventura Mining from a "strong sell" rating to a "hold" rating in a research report on Tuesday, October 13th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average 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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