Scotiabank Forecasts Strong Price Appreciation for Buenaventura Mining (NYSE:BVN) Stock

Key Points

• Scotiabank has raised its price target for Buenaventura Mining (NYSE:BVN) from $19.50 to $27.00, indicating a potential upside of 18.12% from the current stock price.
• Multiple research firms have varied ratings on Buenaventura Mining, with Wall Street Zen downgrading it to a "hold" while Zacks Research has upgraded it to a "strong-buy."
• Buenaventura Mining reported $0.40 earnings per share for the last quarter, exceeding analysts' expectations and reflecting a strong performance with a net margin of 38.38%.

Buenaventura Mining (NYSE:BVN - Get Free Report) had its price objective increased by investment analysts at Scotiabank from $19.50 to $27.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "sector perform" rating on the mining company's stock. Scotiabank's price target would indicate a potential upside of 18.12% from the company's current price.

Several other research firms have also recently commented on BVN. Wall Street Zen cut Buenaventura Mining from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Buenaventura Mining in a research note on Wednesday, October 8th. Finally, Zacks Research raised Buenaventura Mining from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $27.00.

Buenaventura Mining Stock Performance

NYSE:BVN traded down $0.04 during mid-day trading on Thursday, reaching $22.86. 85,753 shares of the stock were exchanged, compared to its average volume of 1,099,910. The company has a 50 day simple moving average of $21.66 and a 200-day simple moving average of $17.85. The stock has a market capitalization of $5.80 billion, a P/E ratio of 11.64 and a beta of 0.27. The company has a quick ratio of 2.31, a current ratio of 2.54 and a debt-to-equity ratio of 0.23. Buenaventura Mining has a 1 year low of $11.50 and a 1 year high of $26.97.

Buenaventura Mining (NYSE:BVN - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The mining company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.10. Buenaventura Mining had a return on equity of 9.47% and a net margin of 38.38%.The company had revenue of $369.50 million during the quarter, compared to analysts' expectations of $338.29 million. Analysts anticipate that Buenaventura Mining will post 1.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new position in Buenaventura Mining in the second quarter valued at $28,000. Brooklyn Investment Group boosted its holdings in Buenaventura Mining by 1,363.9% in the first quarter. Brooklyn Investment Group now owns 1,947 shares of the mining company's stock valued at $30,000 after acquiring an additional 1,814 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Buenaventura Mining in the second quarter valued at $32,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Buenaventura Mining in the first quarter valued at $36,000. Finally, Headlands Technologies LLC acquired a new position in Buenaventura Mining in the first quarter valued at $37,000.

About Buenaventura Mining

Compañía de Minas Buenaventura SAA. engages in the exploration, development, construction, and operation of mineral processing business. The company explores for gold, silver, lead, zinc, and copper metals. It operates operating mining units, including Tambomayo located in the Caylloma province, Orcopampa Unit located in the province of Castilla, Uchucchacua located in province of Oyón, Julcani located in province of Angaraes, Peru, as well as San Gabrie located in the province of General Sánchez Cerro, in the Moquegua region.

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