Public Employees Retirement System of Ohio Raises Holdings in Buenaventura Mining Company Inc. $BVN

Key Points

• Ohio’s public employees’ retirement system increased its Buenaventura Mining stake by 539.2% in the first quarter, ending with 56,072 shares valued at approximately $2.02 million.
• Several other institutional investors also expanded their positions, including FIL Ltd., which held 13.47 million shares, and Northwestern Mutual Wealth Management, which held 5.88 million shares.
• BVN shares opened at $30.29 after declining 4.9%; the company missed quarterly earnings and revenue expectations, while analysts maintained a “Moderate Buy” consensus with a $37.25 average price target.

Public Employees Retirement System of Ohio lifted its position in Buenaventura Mining Company Inc. (NYSE:BVN - Free Report) by 539.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,072 shares of the mining company's stock after purchasing an additional 47,300 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Buenaventura Mining were worth $2,021,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its holdings in Buenaventura Mining by 3,096,894.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,884,290 shares of the mining company's stock valued at $163,760,000 after buying an additional 5,884,100 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Buenaventura Mining by 738.7% during the 4th 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 in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Buenaventura Mining by 244.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,742,829 shares of the mining company's stock worth $48,503,000 after acquiring an additional 1,236,480 shares in the last quarter. Bank of Nova Scotia boosted its position in shares of Buenaventura Mining by 83.0% during the 1st quarter. Bank of Nova Scotia now owns 2,520,383 shares of the mining company's stock valued at $90,835,000 after acquiring an additional 1,143,072 shares during the last quarter. Finally, FIL Ltd boosted its position in shares of Buenaventura Mining by 8.8% during the 4th quarter. FIL Ltd now owns 13,473,909 shares of the mining company's stock valued at $374,979,000 after acquiring an additional 1,085,443 shares during the last quarter.

Buenaventura Mining Trading Down 4.9%

Shares of BVN stock opened at $30.29 on Friday. The company has a market cap of $7.69 billion, a PE ratio of 6.85 and a beta of 0.42. Buenaventura Mining Company Inc. has a 1 year low of $16.90 and a 1 year high of $44.67. The stock's 50 day simple moving average is $31.63 and its two-hundred day simple moving average is $34.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.01 and a quick ratio of 1.88.

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 analysts' expectations of $610.00 million. Buenaventura Mining had a return on equity of 24.89% and a net margin of 47.72%. Research analysts predict that Buenaventura Mining Company Inc. will post 4.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Morgan Stanley reduced their price target on shares of Buenaventura Mining from $42.50 to $34.50 and set an "overweight" rating on the stock in a research report on Wednesday, July 8th. Weiss Ratings lowered shares of Buenaventura Mining from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, May 4th. Finally, Scotiabank dropped their price objective on shares of Buenaventura Mining from $44.00 to $40.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 14th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $37.25.

Buenaventura Mining 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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