Jennison Associates LLC Purchases New Position in Buenaventura Mining Company Inc. $BVN

Key Points

• Jennison Associates LLC established a new position in Buenaventura (NYSE:BVN), buying 526,654 shares worth approximately $14.66 million and representing about 0.21% of the company at quarter-end.
• Buenaventura beat Q1 EPS expectations ($1.32 vs. $1.09) with a 47.72% net margin and 24.89% ROE, and declared a special dividend of $0.9904 per share payable May 12 (ex‑dividend April 21).
• Analysts have a consensus “Hold” rating with a $44.00 target; the stock trades near $32.45, has a P/E of 8.43 and a 52‑week range of $13.69–$44.67.

Jennison Associates LLC purchased a new stake in Buenaventura Mining Company Inc. (NYSE:BVN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 526,654 shares of the mining company's stock, valued at approximately $14,657,000. Jennison Associates LLC owned about 0.21% of Buenaventura Mining at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BVN. Robeco Institutional Asset Management B.V. lifted its position in Buenaventura Mining by 738.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,979,757 shares of the mining company's stock valued at $82,927,000 after acquiring an additional 2,624,485 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Buenaventura Mining by 38.5% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,196,976 shares of the mining company's stock valued at $175,102,000 after acquiring an additional 1,999,475 shares during the last quarter. Sprott Inc. purchased a new stake in shares of Buenaventura Mining in the third quarter valued at about $25,647,000. American Century Companies Inc. raised its holdings in shares of Buenaventura Mining by 146.5% in the third quarter. American Century Companies Inc. now owns 1,737,984 shares of the mining company's stock valued at $42,285,000 after buying an additional 1,033,045 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Buenaventura Mining by 2,318.6% in the second quarter. Invesco Ltd. now owns 633,036 shares of the mining company's stock valued at $10,394,000 after buying an additional 606,862 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BVN. Zacks Research cut shares of Buenaventura Mining from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 31st. Scotiabank upped their target price on shares of Buenaventura Mining from $42.00 to $44.00 and gave the company a "sector perform" rating in a report on Monday, March 2nd. Finally, Wall Street Zen raised shares of Buenaventura Mining from a "buy" rating to a "strong-buy" rating in a report on Saturday, March 28th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $44.00.

Buenaventura Mining Trading Down 0.4%

NYSE BVN opened at $32.45 on Friday. The stock has a market capitalization of $8.23 billion, a P/E ratio of 8.43 and a beta of 0.32. Buenaventura Mining Company Inc. has a 52-week low of $13.69 and a 52-week high of $44.67. The firm has a 50-day moving average price of $35.85 and a 200 day moving average price of $31.45. The company has a quick ratio of 1.88, a current ratio of 2.01 and a debt-to-equity ratio of 0.16.

Buenaventura Mining (NYSE:BVN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The mining company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.23. The firm had revenue of $624.56 million during 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%. Equities research analysts expect that Buenaventura Mining Company Inc. will post 4.14 EPS for the current year.

Buenaventura Mining Dividend Announcement

The company also recently declared a special dividend, which will be paid on Tuesday, May 12th. Investors of record on Tuesday, April 21st will be issued a dividend of $0.9904 per share. The ex-dividend date of this dividend is Tuesday, April 21st. Buenaventura Mining's dividend payout ratio is currently 28.31%.

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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