Jennison Associates LLC Has $45.70 Million Stock Position in Buenaventura Mining Company Inc. $BVN

Key Points

• Jennison Associates LLC boosted its Buenaventura Mining stake by 140.8% in Q1, buying 741,344 more shares and bringing its position to 1,267,998 shares worth about $45.7 million.
• Buneaventura Mining shares were down 0.5% to $30.10, and the stock trades at a relatively low 7.82 P/E with a market cap of $7.64 billion.
• The company beat quarterly EPS estimates, reporting $1.32 per share versus $1.09 expected, though revenue came in below forecasts at $624.56 million; analysts currently rate the stock Moderate Buy with a consensus target of $37.25.

Jennison Associates LLC increased its holdings in shares of Buenaventura Mining Company Inc. (NYSE:BVN - Free Report) by 140.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,267,998 shares of the mining company's stock after purchasing an additional 741,344 shares during the period. Jennison Associates LLC owned 0.50% of Buenaventura Mining worth $45,699,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Polunin Capital Partners Ltd increased its holdings in shares of Buenaventura Mining by 8.2% in the fourth quarter. Polunin Capital Partners Ltd now owns 540,381 shares of the mining company's stock valued at $15,039,000 after purchasing an additional 41,100 shares during the last quarter. Diversified Trust Co acquired a new stake in Buenaventura Mining during the first quarter worth approximately $2,035,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Buenaventura Mining by 738.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,979,757 shares of the mining company's stock worth $82,927,000 after acquiring an additional 2,624,485 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Buenaventura Mining by 47.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 192,751 shares of the mining company's stock worth $5,511,000 after acquiring an additional 62,428 shares during the period. Finally, Swedbank AB grew its position in shares of Buenaventura Mining by 44.9% in the fourth quarter. Swedbank AB now owns 53,900 shares of the mining company's stock valued at $1,500,000 after purchasing an additional 16,700 shares during the last quarter.

Buenaventura Mining Stock Down 0.5%

NYSE BVN opened at $30.10 on Tuesday. The company has a current ratio of 2.01, a quick ratio of 1.88 and a debt-to-equity ratio of 0.16. The company has a market cap of $7.64 billion, a price-to-earnings ratio of 7.82 and a beta of 0.42. The company has a 50 day moving average of $32.35 and a 200-day moving average of $34.44. Buenaventura Mining Company Inc. has a 1-year low of $16.81 and a 1-year high of $44.67.

Buenaventura Mining (NYSE:BVN - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The mining company reported $1.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.09 by $0.23. Buenaventura Mining had a return on equity of 24.89% and a net margin of 47.72%.The business had revenue of $624.56 million for the quarter, compared to the consensus estimate of $666.00 million. On average, equities research analysts expect that Buenaventura Mining Company Inc. will post 4.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.

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