Ninepoint Partners LP Invests $3.67 Million in Buenaventura Mining Company Inc. $BVN

Key Points

• Ninepoint Partners purchased 125,466 shares of Buenaventura Mining worth approximately $3.67 million, joining several other institutional investors that increased or initiated positions in BVN.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $37.25, although some firms recently lowered their targets or downgraded the stock.
• BVN shares opened at $34.24, while the company’s latest quarterly results missed expectations, reporting $0.94 in earnings per share versus the $0.99 consensus and revenue of $528.99 million versus $610 million expected.

Ninepoint Partners LP purchased a new position in Buenaventura Mining Company Inc. (NYSE:BVN - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 125,466 shares of the mining company's stock, valued at approximately $3,675,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BVN. Jennison Associates LLC bought a new stake in shares of Buenaventura Mining in the 4th quarter worth $14,657,000. Diversified Trust Co purchased a new stake in shares of Buenaventura Mining during the first quarter valued at $2,035,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Buenaventura Mining by 47.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 192,751 shares of the mining company's stock worth $5,511,000 after buying an additional 62,428 shares in the last quarter. Matthews International Capital Management LLC lifted its stake in Buenaventura Mining by 483.9% during the 1st quarter. Matthews International Capital Management LLC now owns 128,987 shares of the mining company's stock valued at $4,649,000 after acquiring an additional 106,898 shares during the period. Finally, Swedbank AB boosted its holdings in shares of Buenaventura Mining by 44.9% during the 4th quarter. Swedbank AB now owns 53,900 shares of the mining company's stock valued at $1,500,000 after acquiring an additional 16,700 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Weiss Ratings reissued a "buy (b-)" rating on shares of Buenaventura Mining in a report on Friday, July 31st. Scotiabank cut their target price on shares of Buenaventura Mining from $44.00 to $40.00 and set a "sector perform" rating for the company in a research report on Tuesday, July 14th. Morgan Stanley dropped their price target on Buenaventura Mining from $42.50 to $34.50 and set an "overweight" rating on the stock in a research note on Wednesday, July 8th. Finally, Wall Street Zen downgraded Buenaventura Mining from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $37.25.

Buenaventura Mining Trading Up 0.8%

Shares of Buenaventura Mining stock opened at $34.24 on Friday. Buenaventura Mining Company Inc. has a 1-year low of $18.24 and a 1-year high of $44.67. The company's fifty day simple moving average is $31.66 and its 200-day simple moving average is $34.20. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.01 and a quick ratio of 1.88. The stock has a market capitalization of $8.69 billion, a PE ratio of 7.75 and a beta of 0.43.

Buenaventura Mining (NYSE:BVN - Get Free Report) last announced its earnings results on Thursday, July 30th. The mining company reported $0.94 EPS for the quarter, missing analysts' consensus estimates of $0.99 by ($0.05). The company had revenue of $528.99 million during the quarter, compared to the consensus estimate of $610.00 million. Buenaventura Mining had a return on equity of 27.72% and a net margin of 50.88%. As a group, equities analysts anticipate that Buenaventura Mining Company Inc. will post 4.24 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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