Hsbc Holdings PLC Sells 37,855 Shares of Buenaventura Mining Company Inc. $BVN

Key Points

• Hsbc Holdings PLC reduced its stake in Buenaventura Mining by 19% in the fourth quarter, selling 37,855 shares and leaving it with 161,526 shares valued at about $4.5 million.
• Several other institutional investors also adjusted holdings, with some making large percentage increases in BVN positions, signaling continued interest from smaller funds.
• Analysts remain mixed but broadly constructive: BVN carries a Moderate Buy consensus with an average target price of $39.25, while Morgan Stanley recently cut its price target to $34.50 despite keeping an overweight rating.

Hsbc Holdings PLC lowered its holdings in Buenaventura Mining Company Inc. (NYSE:BVN - Free Report) by 19.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 161,526 shares of the mining company's stock after selling 37,855 shares during the quarter. Hsbc Holdings PLC owned about 0.06% of Buenaventura Mining worth $4,498,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in shares of Buenaventura Mining in the second quarter valued at about $32,000. Smartleaf Asset Management LLC grew its holdings in Buenaventura Mining by 1,725.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,917 shares of the mining company's stock worth $55,000 after acquiring an additional 1,812 shares during the last quarter. Headlands Technologies LLC increased its position in Buenaventura Mining by 60.9% in the 2nd quarter. Headlands Technologies LLC now owns 3,761 shares of the mining company's stock valued at $62,000 after acquiring an additional 1,424 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in Buenaventura Mining by 199.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,449 shares of the mining company's stock valued at $96,000 after acquiring an additional 2,298 shares in the last quarter. Finally, Assetmark Inc. raised its stake in shares of Buenaventura Mining by 463.4% in the fourth quarter. Assetmark Inc. now owns 3,983 shares of the mining company's stock worth $111,000 after acquiring an additional 3,276 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BVN shares. Weiss Ratings lowered shares of Buenaventura Mining from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, May 4th. Wall Street Zen raised shares of Buenaventura Mining from a "buy" rating to a "strong-buy" rating in a report on Saturday, March 28th. Zacks Research cut shares of Buenaventura Mining from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 31st. Finally, Morgan Stanley reduced their price objective on Buenaventura Mining from $42.50 to $34.50 and set an "overweight" rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Buenaventura Mining has a consensus rating of "Moderate Buy" and an average target price of $39.25.

Buenaventura Mining Trading Up 4.5%

BVN opened at $29.64 on Friday. The firm has a 50 day simple moving average of $32.81 and a 200 day simple moving average of $34.38. Buenaventura Mining Company Inc. has a fifty-two week low of $16.06 and a fifty-two week high of $44.67. The company has a market cap of $7.52 billion, a price-to-earnings ratio of 7.70 and a beta of 0.42. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.01 and a quick ratio of 1.88.

Buenaventura Mining (NYSE:BVN - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The mining company reported $1.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.23. The firm had revenue of $624.56 million for the quarter, compared to analysts' expectations of $666.00 million. Buenaventura Mining had a net margin of 47.72% and a return on equity of 24.89%. On average, sell-side analysts anticipate that Buenaventura Mining Company Inc. will post 4.31 earnings per share for the current year.

Buenaventura Mining Company Profile

Compañía de Minas Buenaventura SAA. NYSE: BVN is one of Peru's leading precious metals producers, primarily engaged in the exploration, development and operation of gold, silver and base metal mines. Headquartered in Lima, the company's core activities cover the entire mining cycle from concession acquisition and project evaluation to extraction, milling and metal refining. Buenaventura also holds interests in smelting, refining and trading services, enabling it to market its products both domestically and internationally.

The company's principal assets include several operating mines in Peru such as Uchucchacua (silver-lead-zinc), Orcopampa (gold-silver) and the Tambomayo gold mine.

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