Buenaventura Mining (NYSE:BVN) Stock Price Down 4.1% - Here's Why

Key Points

• Buenaventura Mining shares fell 4.1% to about $25.96 on Wednesday, while trading volume was 81% below its average.
• Analysts have a Moderate Buy consensus rating and an average price target of $37.25; recent ratings were split between Buy and Hold.
• The company beat quarterly earnings and revenue estimates, reporting EPS of $0.96 and revenue of $545.33 million, and announced a special dividend of $0.5508 per share.

Buenaventura Mining Company Inc. (NYSE:BVN - Get Free Report) shares were down 4.1% on Wednesday. The company traded as low as $26.03 and last traded at $25.9630. 246,217 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 1,300,699 shares. The stock had previously closed at $27.08.

Wall Street Analyst Weigh In

BVN has been the subject of a number of research reports. Zacks Research raised shares of Buenaventura Mining from a "strong sell" rating to a "hold" rating in a research note on Tuesday, October 13th. Weiss Ratings reissued a "buy (b-)" rating on shares of Buenaventura Mining in a research note on Thursday, October 29th. Scotiabank cut 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 research report on Tuesday, July 14th. Finally, Wall Street Zen raised Buenaventura Mining from a "hold" rating to a "buy" rating in a research note on Saturday, October 10th. Two research 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 a consensus rating of "Moderate Buy" and an average target price of $37.25.

Buenaventura Mining Stock Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 2.59 and a quick ratio of 2.43. The stock has a market cap of $6.59 billion, a PE ratio of 5.53 and a beta of 0.40. The business has a 50 day moving average price of $31.28 and a two-hundred day moving average price of $33.63.

Buenaventura Mining (NYSE:BVN - Get Free Report) last issued its earnings results on Thursday, October 29th. The mining company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.86 by $0.10. The company had revenue of $545.33 million for the quarter, compared to the consensus estimate of $439.69 million. Buenaventura Mining had a net margin of 51.78% and a return on equity of 27.60%. As a group, equities research analysts forecast that Buenaventura Mining Company Inc. will post 4.01 EPS for the current fiscal year.

Buenaventura Mining Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Wednesday, December 9th. Stockholders of record on Friday, November 20th will be paid a dividend of $0.5508 per share. The ex-dividend date of this dividend is Friday, November 20th. Buenaventura Mining's dividend payout ratio is 23.09%.

Institutional Trading of Buenaventura Mining

A number of institutional investors have recently modified their holdings of the company. Centrica Wealth Management LLC purchased a new position in Buenaventura Mining during the 2nd quarter valued at about $131,547,000. Robeco Institutional Asset Management B.V. grew its position in shares of Buenaventura Mining by 0.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,311,426 shares of the mining company's stock worth $136,155,000 after buying an additional 40,110 shares during the last quarter. Bank of Nova Scotia grew its position in shares of Buenaventura Mining by 83.0% in the 1st quarter. Bank of Nova Scotia now owns 2,520,383 shares of the mining company's stock worth $90,835,000 after buying an additional 1,143,072 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Buenaventura Mining by 32.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,301,015 shares of the mining company's stock worth $82,929,000 after buying an additional 558,186 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Buenaventura Mining by 140.8% during the first 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 period.

Buenaventura Mining Company Profile

Compañía de Minas Buenaventura S.A.A., known as Buenaventura, is a Peru-based mining company engaged in the exploration, development, and operation of mineral properties. Its products include gold, silver, copper, lead, and zinc. The company operates in Peru and participates in mining projects through subsidiaries, joint ventures, and ownership interests. Its portfolio has included both precious- and base-metal operations, as well as interests in larger mining ventures. Founded in 1953, Buenaventura is headquartered in Lima.

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