SEB Asset Management AB Makes New Investment in Buenaventura Mining Company Inc. $BVN

Key Points

• SEB Asset Management AB initiated a new position in Buenaventura Mining during the first quarter, buying 76,023 shares valued at about $2.74 million.
• The stock slipped 2.3% in trading, opening at $31.34, while the company’s market cap stood near $7.95 billion and its valuation remained relatively modest at a P/E of 8.14.
• Buenaventura recently beat earnings expectations, posting $1.32 EPS versus $1.09 expected, though revenue of $624.56 million came in below estimates; analysts currently rate the stock a Moderate Buy with an average target price of $37.25.

SEB Asset Management AB bought a new position in shares of Buenaventura Mining Company Inc. (NYSE:BVN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 76,023 shares of the mining company's stock, valued at approximately $2,740,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Jennison Associates LLC increased its stake in Buenaventura Mining by 140.8% in the 1st quarter. Jennison Associates LLC now owns 1,267,998 shares of the mining company's stock valued at $45,699,000 after buying an additional 741,344 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Buenaventura Mining by 175.1% during the 1st quarter. Assetmark Inc. now owns 10,959 shares of the mining company's stock worth $395,000 after buying an additional 6,976 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Buenaventura Mining during the 1st quarter worth about $12,903,000. Sanctuary Advisors LLC bought a new position in shares of Buenaventura Mining in the 1st quarter valued at about $212,000. Finally, Sigma Planning Corp bought a new position in shares of Buenaventura Mining in the 1st quarter valued at about $487,000.

Buenaventura Mining Trading Down 2.3%

Shares of NYSE:BVN opened at $31.34 on Friday. Buenaventura Mining Company Inc. has a 52-week low of $16.90 and a 52-week high of $44.67. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.88 and a current ratio of 2.01. The company has a market capitalization of $7.95 billion, a P/E ratio of 8.14 and a beta of 0.42. The company has a 50-day simple moving average of $31.97 and a 200 day simple moving average of $34.51.

Buenaventura Mining (NYSE:BVN - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The mining company reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.23. Buenaventura Mining had a return on equity of 24.89% and a net margin of 47.72%.The firm had revenue of $624.56 million for the quarter, compared to the consensus estimate of $666.00 million. Sell-side analysts forecast that Buenaventura Mining Company Inc. will post 4.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BVN. Morgan Stanley reduced their price target on Buenaventura Mining from $42.50 to $34.50 and set an "overweight" rating for the company in a research report on Wednesday, July 8th. Zacks Research lowered Buenaventura Mining from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 31st. Weiss Ratings cut Buenaventura Mining from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, May 4th. Scotiabank cut their price objective on Buenaventura Mining from $44.00 to $40.00 and set a "sector perform" rating for the company in a report on Tuesday, July 14th. Finally, Wall Street Zen raised shares of Buenaventura Mining from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 28th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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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