SummitTX Capital L.P. Reduces Stock Holdings in Buenaventura Mining Company Inc. $BVN

Key Points

• SummitTX Capital cut its Buenaventura Mining (NYSE: BVN) stake by 32.9% in the first quarter, selling 100,888 shares and retaining 205,659 shares valued at approximately $7.4 million.
• Analyst sentiment remains cautiously positive, with BVN holding a consensus “Moderate Buy” rating and an average price target of $37.25, despite several recent target and rating downgrades.
• BVN shares were trading near $30.96, while the company’s latest quarterly results exceeded EPS expectations ($1.32 versus $1.09) but missed revenue estimates.

SummitTX Capital L.P. reduced its holdings in shares of Buenaventura Mining Company Inc. (NYSE:BVN - Free Report) by 32.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205,659 shares of the mining company's stock after selling 100,888 shares during the period. SummitTX Capital L.P. owned approximately 0.08% of Buenaventura Mining worth $7,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Corient Private Wealth LLC boosted its holdings in Buenaventura Mining by 2.7% in the fourth quarter. Corient Private Wealth LLC now owns 17,857 shares of the mining company's stock worth $497,000 after acquiring an additional 470 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Buenaventura Mining by 4.0% during the first quarter. PNC Financial Services Group Inc. now owns 12,949 shares of the mining company's stock worth $467,000 after acquiring an additional 504 shares during the last quarter. SmartHarvest Portfolios LLC increased its holdings in shares of Buenaventura Mining by 5.6% during the first quarter. SmartHarvest Portfolios LLC now owns 9,898 shares of the mining company's stock valued at $357,000 after acquiring an additional 529 shares in the last quarter. Personal CFO Solutions LLC increased its holdings in shares of Buenaventura Mining by 4.2% during the first quarter. Personal CFO Solutions LLC now owns 14,006 shares of the mining company's stock valued at $505,000 after acquiring an additional 563 shares in the last quarter. Finally, PKO Investment Management Joint Stock Co raised its position in shares of Buenaventura Mining by 0.7% in the 1st quarter. PKO Investment Management Joint Stock Co now owns 88,544 shares of the mining company's stock valued at $3,191,000 after purchasing an additional 602 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BVN. Weiss Ratings cut shares of Buenaventura Mining from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, May 4th. Morgan Stanley cut 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 note on Wednesday, July 8th. Scotiabank decreased their price target on shares of 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, Zacks Research downgraded shares of Buenaventura Mining from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 31st. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.25.

Buenaventura Mining Trading Up 0.2%

Shares of NYSE:BVN opened at $30.96 on Monday. Buenaventura Mining Company Inc. has a 52-week low of $16.90 and a 52-week high of $44.67. The stock has a market cap of $7.86 billion, a price-to-earnings ratio of 8.04 and a beta of 0.42. The company has a quick ratio of 1.88, a current ratio of 2.01 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $31.90 and a 200-day moving average price of $34.52.

Buenaventura Mining (NYSE:BVN - Get Free Report) last released its earnings results on Thursday, April 30th. The mining company reported $1.32 EPS 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 during the quarter, compared to the consensus estimate of $666.00 million. Equities analysts predict that Buenaventura Mining Company Inc. will post 4.39 EPS 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.

Want to see what other hedge funds are holding BVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Buenaventura Mining Company Inc. (NYSE:BVN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.