Scotiabank Lowers Buenaventura Mining (NYSE:BVN) Price Target to $40.00

Key Points

• Scotiabank cut its price target on Buenaventura Mining from $44 to $40 while keeping a sector perform rating, implying about 29.7% upside from the current share price.
• The stock has seen mixed analyst sentiment overall: Wall Street Zen upgraded it to strong-buy, while Zacks Research downgraded it to hold and Morgan Stanley lowered its target to $34.50.
• Buenaventura Mining shares rose 3.4% to $30.83, and the company recently reported EPS of $1.32, beating estimates, though revenue came in below expectations.

Buenaventura Mining (NYSE:BVN - Get Free Report) had its price objective decreased by stock analysts at Scotiabank from $44.00 to $40.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "sector perform" rating on the mining company's stock. Scotiabank's price target points to a potential upside of 29.73% from the company's current price.

A number of other analysts have also weighed in on BVN. Wall Street Zen upgraded shares of Buenaventura Mining from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 28th. Weiss Ratings downgraded shares of Buenaventura Mining from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, May 4th. Zacks Research cut shares of Buenaventura Mining from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 31st. Finally, Morgan Stanley reduced their price target on shares of Buenaventura Mining from $42.50 to $34.50 and set an "overweight" rating for the company in a research report on Wednesday, July 8th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $37.25.

Buenaventura Mining Stock Up 3.4%

NYSE BVN traded up $1.01 during trading hours on Tuesday, reaching $30.83. 502,829 shares of the company's stock traded hands, compared to its average volume of 1,496,012. Buenaventura Mining has a 52-week low of $16.06 and a 52-week high of $44.67. The firm has a market cap of $7.82 billion, a PE ratio of 8.00 and a beta of 0.42. The firm has a 50-day simple moving average of $32.76 and a 200 day simple moving average of $34.38. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.01 and a quick ratio of 1.88.

Buenaventura Mining (NYSE:BVN - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The mining company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.23. The firm had revenue of $624.56 million during 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%. Sell-side analysts anticipate that Buenaventura Mining will post 4.22 EPS for the current fiscal year.

Institutional Trading of Buenaventura Mining

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Corient Private Wealth LLC raised its holdings in Buenaventura Mining by 2.7% during the fourth quarter. Corient Private Wealth LLC now owns 17,857 shares of the mining company's stock valued at $497,000 after acquiring an additional 470 shares during the period. PNC Financial Services Group Inc. grew its position 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 purchasing an additional 504 shares in the last quarter. SmartHarvest Portfolios LLC grew its position 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 worth $357,000 after purchasing an additional 529 shares in the last quarter. Personal CFO Solutions LLC raised its stake in Buenaventura Mining by 4.2% during the 1st quarter. Personal CFO Solutions LLC now owns 14,006 shares of the mining company's stock valued at $505,000 after purchasing an additional 563 shares during the period. Finally, PKO Investment Management Joint Stock Co lifted its holdings in 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 worth $3,191,000 after purchasing an additional 602 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.

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