Northern Trust Corp Acquires 406,641 Shares of Buenaventura Mining Company Inc. $BVN

Key Points

• Northern Trust Corp increased its stake in Buenaventura Mining Company by 32.9%, now holding approximately 1,642,557 shares valued at $25.67 million.
• Several other institutional investors also adjusted their positions, with Tidal Investments LLC increasing its holdings by 56.6% in the last quarter, now owning over 3.33 million shares.
• Buenaventura Mining's recent earnings report exceeded expectations, posting $0.40 EPS against a consensus estimate of $0.30, with revenue reaching $369.5 million.

Northern Trust Corp boosted its holdings in Buenaventura Mining Company Inc. (NYSE:BVN - Free Report) by 32.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,642,557 shares of the mining company's stock after purchasing an additional 406,641 shares during the quarter. Northern Trust Corp owned about 0.65% of Buenaventura Mining worth $25,673,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brooklyn Investment Group grew its holdings in Buenaventura Mining by 1,363.9% in the first quarter. Brooklyn Investment Group now owns 1,947 shares of the mining company's stock worth $30,000 after purchasing an additional 1,814 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Buenaventura Mining during the first quarter valued at approximately $36,000. Headlands Technologies LLC purchased a new stake in shares of Buenaventura Mining during the first quarter valued at approximately $37,000. Voya Investment Management LLC purchased a new stake in shares of Buenaventura Mining during the fourth quarter valued at approximately $144,000. Finally, Cetera Investment Advisers purchased a new stake in shares of Buenaventura Mining during the first quarter valued at approximately $157,000.

Buenaventura Mining Stock Performance

Buenaventura Mining stock traded down $0.22 during midday trading on Thursday, reaching $19.72. 424,474 shares of the company traded hands, compared to its average volume of 1,018,612. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of 10.01 and a beta of 0.28. The business has a 50 day moving average of $17.63 and a two-hundred day moving average of $15.74. Buenaventura Mining Company Inc. has a 12 month low of $11.50 and a 12 month high of $20.19. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.54 and a quick ratio of 2.31.

Buenaventura Mining (NYSE:BVN - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The mining company reported $0.40 earnings per share for the quarter, topping 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 business had revenue of $369.50 million for the quarter, compared to the consensus estimate of $338.29 million. As a group, research analysts predict that Buenaventura Mining Company Inc. will post 1.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

About Buenaventura Mining

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.