Candriam S.C.A. Takes $3.65 Million Position in Buenaventura Mining Company Inc. $BVN

Key Points

• Candriam S.C.A. has invested approximately $3.65 million in Buenaventura Mining Company, purchasing 233,319 shares in the first quarter.
• Buenaventura Mining recently reported a quarterly earnings per share (EPS) of $0.40, exceeding analysts' expectations of $0.30.
• Despite positive earnings, Wall Street Zen downgraded Buenaventura Mining's stock rating from "buy" to "hold", reflecting a cautious outlook amid market conditions.

Candriam S.C.A. acquired a new stake in Buenaventura Mining Company Inc. (NYSE:BVN - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 233,319 shares of the mining company's stock, valued at approximately $3,647,000. Candriam S.C.A. owned about 0.09% of Buenaventura Mining as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Buenaventura Mining by 17.1% during the first quarter. GAMMA Investing LLC now owns 11,382 shares of the mining company's stock worth $178,000 after purchasing an additional 1,665 shares during the last quarter. Brooklyn Investment Group grew its holdings in shares of Buenaventura Mining by 1,363.9% during the first quarter. Brooklyn Investment Group now owns 1,947 shares of the mining company's stock worth $30,000 after purchasing an additional 1,814 shares during the last quarter. Resona Asset Management Co. Ltd. grew its holdings in shares of Buenaventura Mining by 4.6% during the first quarter. Resona Asset Management Co. Ltd. now owns 43,580 shares of the mining company's stock worth $680,000 after purchasing an additional 1,908 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Buenaventura Mining during the first quarter worth about $36,000. Finally, Headlands Technologies LLC purchased a new position in shares of Buenaventura Mining during the first quarter worth about $37,000.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Buenaventura Mining from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $16.75.

Buenaventura Mining Price Performance

Shares of BVN stock traded down $0.3630 during midday trading on Monday, reaching $18.5070. 745,358 shares of the company traded hands, compared to its average volume of 910,804. The firm's 50 day simple moving average is $17.23 and its two-hundred day simple moving average is $15.48. Buenaventura Mining Company Inc. has a 1-year low of $11.50 and a 1-year high of $19.04. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.54 and a quick ratio of 2.31. The firm has a market cap of $4.70 billion, a PE ratio of 9.39 and a beta of 0.34.

Buenaventura Mining (NYSE:BVN - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The mining company reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.10. Buenaventura Mining had a net margin of 38.38% and a return on equity of 9.47%. The company had revenue of $369.50 million during the quarter, compared to the consensus estimate of $338.29 million. On average, equities research analysts expect that Buenaventura Mining Company Inc. will post 1.13 EPS for the current fiscal 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.