Buenaventura Mining Company Inc. $BVN Stock Purchased by Candriam S.C.A.

Key Points

• Candriam S.C.A. increased its Buenaventura stake by 40.4% in the third quarter, adding 83,600 shares to reach 290,400 shares valued at about $9.2 million.
• Buenaventura reported quarterly earnings of $0.96 per share, above the $0.86 analyst consensus, and revenue of $545.3 million, also exceeding estimates.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $37.25. The company also announced a special dividend of $0.5508 per share.

Candriam S.C.A. grew its stake in shares of Buenaventura Mining Company Inc. (NYSE:BVN - Free Report) by 40.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 290,400 shares of the mining company's stock after acquiring an additional 83,600 shares during the quarter. Candriam S.C.A. owned about 0.11% of Buenaventura Mining worth $9,204,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Navellier & Associates Inc. lifted its position in Buenaventura Mining by 40.2% during the second quarter. Navellier & Associates Inc. now owns 127,883 shares of the mining company's stock worth $3,746,000 after purchasing an additional 36,652 shares during the period. Ninepoint Partners LP bought a new position in Buenaventura Mining in the 2nd quarter valued at about $3,675,000. Public Employees Retirement System of Ohio bought a new position in Buenaventura Mining in the 2nd quarter valued at about $2,568,000. Matthews International Capital Management LLC increased its holdings in Buenaventura Mining by 483.9% in the 1st quarter. Matthews International Capital Management LLC now owns 128,987 shares of the mining company's stock valued at $4,649,000 after buying an additional 106,898 shares during the period. Finally, Centrica Wealth Management LLC acquired a new position in shares of Buenaventura Mining in the 2nd quarter valued at approximately $131,547,000.

Analyst Ratings Changes

Several research firms have weighed in on BVN. Scotiabank cut their target price on Buenaventura Mining from $44.00 to $40.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 14th. Zacks Research upgraded Buenaventura Mining from a "strong sell" rating to a "hold" rating in a research note on Tuesday, October 13th. Wall Street Zen raised Buenaventura Mining from a "hold" rating to a "buy" rating in a report on Saturday, October 10th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Buenaventura Mining in a research report on Thursday, October 29th. Two research analysts have rated the stock with a Buy rating and two have given 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 Stock Performance

Buenaventura Mining stock opened at $28.87 on Tuesday. The business has a 50 day moving average of $31.42 and a 200-day moving average of $33.68. Buenaventura Mining Company Inc. has a 1 year low of $22.43 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. The company has a market capitalization of $7.32 billion, a P/E ratio of 6.12 and a beta of 0.40.

Buenaventura Mining (NYSE:BVN - Get Free Report) last posted its earnings results on Thursday, October 29th. The mining company reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.10. The firm had revenue of $545.33 million for the quarter, compared to analyst estimates of $439.69 million. Buenaventura Mining had a net margin of 51.78% and a return on equity of 27.60%. On average, equities research analysts predict that Buenaventura Mining Company Inc. will post 4.01 earnings per share for the current year.

Buenaventura Mining Dividend Announcement

The business also recently announced a special dividend, which will be paid on Wednesday, December 9th. Investors of record on Friday, November 20th will be given a dividend of $0.5508 per share. The ex-dividend date of this dividend is Friday, November 20th. Buenaventura Mining's dividend payout ratio (DPR) is currently 23.09%.

About Buenaventura Mining

Compañía de Minas Buenaventura SAA., known as Buenaventura, is a Peru-based mining company engaged in the exploration, development, and operation of mineral properties. Its products include gold, silver, copper, lead, and zinc.

The company operates in Peru and participates in mining projects through subsidiaries, joint ventures, and ownership interests. Its portfolio has included both precious- and base-metal operations, as well as interests in larger mining ventures.

Founded in 1953, Buenaventura is headquartered in Lima.

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