Icon Advisers Inc. Co. Sells 59,000 Shares of Buenaventura Mining Company Inc. $BVN

Key Points

• Icon Advisers Inc. Co. cut its stake in Buenaventura Mining by 71.1% in the first quarter, selling 59,000 shares and ending with 24,000 shares valued at about $865,000.
• Other big investors made mixed moves: Goldman Sachs, UBS AM, Invesco, and Sei Investments all boosted their positions, with Invesco’s stake jumping sharply in the second quarter.
• Analysts are mixed on BVN, with an average rating of Moderate Buy and a target price of $37.25; the stock last traded at $32.09 after the company reported quarterly EPS of $1.32, topping expectations.

Icon Advisers Inc. Co. trimmed its position in Buenaventura Mining Company Inc. (NYSE:BVN - Free Report) by 71.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,000 shares of the mining company's stock after selling 59,000 shares during the quarter. Icon Advisers Inc. Co.'s holdings in Buenaventura Mining were worth $865,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its position in shares of Buenaventura Mining by 27.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 427,509 shares of the mining company's stock worth $6,682,000 after purchasing an additional 93,021 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Buenaventura Mining by 2.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,278,411 shares of the mining company's stock worth $19,982,000 after acquiring an additional 25,440 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Buenaventura Mining during the 2nd quarter worth $345,000. Invesco Ltd. raised its holdings in Buenaventura Mining by 2,318.6% in the 2nd quarter. Invesco Ltd. now owns 633,036 shares of the mining company's stock valued at $10,394,000 after acquiring an additional 606,862 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Buenaventura Mining by 691.4% in the 2nd quarter. Sei Investments Co. now owns 228,246 shares of the mining company's stock valued at $3,748,000 after acquiring an additional 199,405 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BVN shares. Weiss Ratings cut shares of Buenaventura Mining from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, May 4th. Zacks Research lowered shares of Buenaventura Mining from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 31st. Morgan Stanley decreased their target price on shares of Buenaventura Mining from $42.50 to $34.50 and set an "overweight" rating on the stock in a research note on Wednesday, July 8th. Scotiabank lowered their price target on shares of Buenaventura Mining from $44.00 to $40.00 and set a "sector perform" rating for the company in a report on Tuesday, July 14th. Finally, Wall Street Zen raised Buenaventura Mining from a "buy" rating to a "strong-buy" rating in a report on Saturday, March 28th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $37.25.

Buenaventura Mining Stock Performance

Shares of Buenaventura Mining stock opened at $32.09 on Thursday. Buenaventura Mining Company Inc. has a one year low of $16.90 and a one year high of $44.67. The firm has a market capitalization of $8.14 billion, a price-to-earnings ratio of 8.34 and a beta of 0.42. The business has a 50-day simple moving average of $32.09 and a 200 day simple moving average of $34.49. 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 posted its earnings results on Thursday, April 30th. The mining company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.09 by $0.23. Buenaventura Mining had a net margin of 47.72% and a return on equity of 24.89%. The company had revenue of $624.56 million during the quarter, compared to the consensus estimate of $666.00 million. On average, research analysts anticipate that Buenaventura Mining Company Inc. will post 4.39 earnings per share for the current fiscal year.

About Buenaventura Mining

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.

Want to see what other hedge funds are holding BVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Buenaventura Mining Company Inc. (NYSE:BVN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.