Scotiabank Lifts Earnings Estimates for Buenaventura Mining

Key Points

• Scotiabank raised its FY2027 EPS estimate for Buenaventura Mining to $3.83 from $3.79, while maintaining a “Sector Perform” rating and a $40 price target.
• Analyst sentiment remains moderately positive, with an average “Moderate Buy” rating and a consensus price target of $37.25; Morgan Stanley recently cut its target to $34.50 but kept an “overweight” rating.
• BVN shares opened at $30.13, down 0.8%, and remain below their 50-day and 200-day moving averages. The company’s latest quarterly results exceeded EPS expectations, reporting $1.32 versus the $1.09 consensus estimate.

Buenaventura Mining Company Inc. (NYSE:BVN - Free Report) - Analysts at Scotiabank upped their FY2027 earnings per share estimates for shares of Buenaventura Mining in a note issued to investors on Wednesday, July 29th. Scotiabank analyst T. Jakusconek now anticipates that the mining company will post earnings per share of $3.83 for the year, up from their prior estimate of $3.79. Scotiabank currently has a "Sector Perform" rating and a $40.00 price objective on the stock. The consensus estimate for Buenaventura Mining's current full-year earnings is $4.39 per share.

Several other equities research analysts have also commented on the company. Morgan Stanley lowered their price objective on Buenaventura Mining from $42.50 to $34.50 and set an "overweight" rating on the stock in a research report on Wednesday, July 8th. Weiss Ratings lowered shares of Buenaventura Mining from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, May 4th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $37.25.

Buenaventura Mining Stock Down 0.8%

Shares of BVN stock opened at $30.13 on Thursday. The stock has a 50 day moving average of $31.73 and a 200 day moving average of $34.52. The company has a current ratio of 2.01, a quick ratio of 1.88 and a debt-to-equity ratio of 0.16. The stock has a market cap of $7.64 billion, a P/E ratio of 7.83 and a beta of 0.42. Buenaventura Mining has a twelve month low of $16.90 and a twelve month high of $44.67.

Buenaventura Mining (NYSE:BVN - Get Free Report) last issued 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. The firm had revenue of $624.56 million for the quarter, compared to the consensus estimate of $666.00 million. Buenaventura Mining had a return on equity of 24.89% and a net margin of 47.72%.

Hedge Funds Weigh In On Buenaventura Mining

Large investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. grew its holdings in Buenaventura Mining by 3,096,894.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,884,290 shares of the mining company's stock valued at $163,760,000 after purchasing an additional 5,884,100 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of Buenaventura Mining by 738.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,979,757 shares of the mining company's stock worth $82,927,000 after buying an additional 2,624,485 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Buenaventura Mining by 244.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,742,829 shares of the mining company's stock worth $48,503,000 after buying an additional 1,236,480 shares during the period. Bank of Nova Scotia lifted its position in shares of Buenaventura Mining by 83.0% during the 1st quarter. Bank of Nova Scotia now owns 2,520,383 shares of the mining company's stock valued at $90,835,000 after buying an additional 1,143,072 shares in the last quarter. Finally, FIL Ltd lifted its position in shares of Buenaventura Mining by 8.8% during the 4th quarter. FIL Ltd now owns 13,473,909 shares of the mining company's stock valued at $374,979,000 after buying an additional 1,085,443 shares in the last quarter.

About Buenaventura Mining

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.

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.