Squarepoint Ops LLC Takes Position in Buenaventura Mining Company Inc. $BVN

Key Points

• Squarepoint Ops LLC acquired 56,409 BVN shares in the second quarter, valued at approximately $1.65 million. Several other institutional investors also increased their positions, including Bank of Nova Scotia, Arrowstreet Capital, and Jennison Associates.
• Buenaventura reported quarterly earnings of $0.94 per share, below the $0.99 analyst consensus, while revenue of $528.99 million also missed expectations of $610 million. The stock opened at $33.25, with a 12-month range of $19.55 to $44.67.
• Analyst sentiment remains mixed but generally positive, with BVN holding a “Moderate Buy” consensus rating and an average price target of $37.25. Morgan Stanley and Scotiabank recently lowered their targets, while other analysts maintained buy or hold ratings.

Squarepoint Ops LLC bought a new position in shares of Buenaventura Mining Company Inc. (NYSE:BVN - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 56,409 shares of the mining company's stock, valued at approximately $1,652,000.

A number of other hedge funds also recently added to or reduced their stakes in BVN. Centrica Wealth Management LLC acquired a new position in shares of Buenaventura Mining in the second quarter worth $131,547,000. Bank of Nova Scotia boosted its holdings in Buenaventura Mining by 83.0% in the first quarter. Bank of Nova Scotia now owns 2,520,383 shares of the mining company's stock valued at $90,835,000 after purchasing an additional 1,143,072 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Buenaventura Mining by 32.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,301,015 shares of the mining company's stock valued at $82,929,000 after purchasing an additional 558,186 shares during the period. Jennison Associates LLC boosted its holdings in Buenaventura Mining by 140.8% in the first quarter. Jennison Associates LLC now owns 1,267,998 shares of the mining company's stock valued at $45,699,000 after purchasing an additional 741,344 shares during the period. Finally, Legal & General Group Plc grew its stake in Buenaventura Mining by 7.8% during the 4th quarter. Legal & General Group Plc now owns 1,124,964 shares of the mining company's stock worth $31,308,000 after purchasing an additional 81,344 shares in the last quarter.

Buenaventura Mining Stock Performance

Shares of BVN stock opened at $33.25 on Wednesday. The company has a market cap of $8.44 billion, a P/E ratio of 7.52 and a beta of 0.46. The firm has a fifty day moving average price of $32.85 and a 200 day moving average price of $33.80. The company has a current ratio of 2.59, a quick ratio of 2.43 and a debt-to-equity ratio of 0.15. Buenaventura Mining Company Inc. has a 12 month low of $19.55 and a 12 month high of $44.67.

Buenaventura Mining (NYSE:BVN - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The mining company reported $0.94 earnings per share for the quarter, missing analysts' consensus estimates of $0.99 by ($0.05). The business had revenue of $528.99 million during the quarter, compared to analyst estimates of $610.00 million. Buenaventura Mining had a net margin of 50.88% and a return on equity of 26.53%. Sell-side analysts predict that Buenaventura Mining Company Inc. will post 3.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on BVN shares. Morgan Stanley cut their price target on Buenaventura Mining from $42.50 to $34.50 and set an "overweight" rating on the stock in a report on Wednesday, July 8th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Buenaventura Mining in a research note on Friday, July 31st. Wall Street Zen downgraded Buenaventura Mining from a "buy" rating to a "hold" rating in a research report on Sunday, August 16th. Finally, Scotiabank cut their target price on shares of Buenaventura Mining from $44.00 to $40.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 14th. Two investment analysts have rated the stock with a Buy rating and two have assigned 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 an average price target of $37.25.

About Buenaventura Mining

Buenaventura Mining Company, formally Compañía de Minas Buenaventura SAA., is a Peru-based precious and base metals mining company. Its activities include the exploration, development, construction, and operation of mining projects, with production primarily focused on gold, silver, lead, zinc, and copper.

Founded in 1953, Buenaventura has developed and operated mining assets throughout Peru. Its portfolio has included the Tambomayo, Orcopampa, Uchucchacua, and Yumpag operations, as well as interests in other Peruvian mining projects.

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