MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 591,482 Shares of Buenaventura Mining Company Inc. $BVN

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. has increased its stake in Buenaventura Mining by 12.0%, acquiring an additional 591,482 shares to own approximately 5.5 million shares valued at $86 million.
• Several institutional investors, including Brooklyn Investment Group and Migdal Insurance, have also significantly modified their holdings in Buenaventura Mining, reflecting growing interest in the company.
• Buenaventura Mining reported a strong quarterly earnings of $0.40 EPS, surpassing estimates and generating revenues of $369.5 million, leading to a consensus price target of $16.75 from analysts.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Buenaventura Mining Company Inc. (NYSE:BVN - Free Report) by 12.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 5,502,101 shares of the mining company's stock after purchasing an additional 591,482 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 2.17% of Buenaventura Mining worth $85,998,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Brooklyn Investment Group lifted its stake in shares of Buenaventura Mining by 1,363.9% in the 1st quarter. Brooklyn Investment Group now owns 1,947 shares of the mining company's stock worth $30,000 after acquiring an additional 1,814 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Buenaventura Mining during the first quarter valued at approximately $36,000. Headlands Technologies LLC acquired a new position in Buenaventura Mining in the 1st quarter valued at approximately $37,000. Voya Investment Management LLC acquired a new position in Buenaventura Mining in the 4th quarter valued at approximately $144,000. Finally, Cetera Investment Advisers acquired a new position in shares of Buenaventura Mining during the 1st quarter worth $157,000.

Analyst Upgrades and Downgrades

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

Buenaventura Mining Stock Up 0.5%

BVN traded up $0.11 during trading on Thursday, reaching $20.15. The company had a trading volume of 567,295 shares, compared to its average volume of 1,016,856. The business's fifty day moving average price is $17.98 and its 200 day moving average price is $15.97. 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 company has a market cap of $5.11 billion, a P/E ratio of 10.23 and a beta of 0.28. Buenaventura Mining Company Inc. has a 12 month low of $11.50 and a 12 month high of $20.39.

Buenaventura Mining (NYSE:BVN - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The mining company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.30 by $0.10. Buenaventura Mining had a net margin of 38.38% and a return on equity of 9.47%. The firm had revenue of $369.50 million for the quarter, compared to the consensus estimate of $338.29 million. Equities analysts anticipate that Buenaventura Mining Company Inc. will post 1.13 EPS for the current year.

Buenaventura Mining Profile

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.