Buenaventura Mining Company Inc. (NYSE:BVN) was upgraded by research analysts at Scotiabank from an “underperform” rating to a “sector perform” rating in a report released on Monday.
Several other analysts have also recently issued reports on BVN. Zacks Investment Research cut Buenaventura Mining from a “buy” rating to a “hold” rating in a research note on Thursday. BidaskClub raised Buenaventura Mining from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Credit Suisse Group reissued a “hold” rating on shares of Buenaventura Mining in a research note on Friday, July 28th. Finally, Morgan Stanley raised Buenaventura Mining from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $13.00 to $17.30 in a research note on Monday, September 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $16.13.
Shares of Buenaventura Mining (NYSE:BVN) traded down 2.14% on Monday, hitting $13.70. The stock had a trading volume of 1,310,853 shares. Buenaventura Mining has a 1-year low of $9.87 and a 1-year high of $14.96. The firm’s market capitalization is $4.22 billion. The firm has a 50 day moving average of $13.62 and a 200-day moving average of $12.58.
Buenaventura Mining (NYSE:BVN) last posted its earnings results on Thursday, July 27th. The mining company reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.24). The business had revenue of $256.73 million during the quarter, compared to the consensus estimate of $327.50 million. Buenaventura Mining had a negative return on equity of 11.11% and a negative net margin of 29.67%. The firm’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.22 earnings per share. Equities analysts predict that Buenaventura Mining will post $0.89 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently modified their holdings of the business. APG Asset Management N.V. lifted its holdings in Buenaventura Mining by 116.8% in the third quarter. APG Asset Management N.V. now owns 1,090,300 shares of the mining company’s stock worth $13,945,000 after buying an additional 587,400 shares during the period. Shell Asset Management Co. lifted its holdings in Buenaventura Mining by 49.7% in the third quarter. Shell Asset Management Co. now owns 423,129 shares of the mining company’s stock worth $4,900,000 after buying an additional 140,466 shares during the period. Bank of Nova Scotia lifted its holdings in Buenaventura Mining by 43.8% in the second quarter. Bank of Nova Scotia now owns 628,609 shares of the mining company’s stock worth $7,233,000 after buying an additional 191,400 shares during the period. Janus Henderson Group PLC purchased a new stake in Buenaventura Mining in the second quarter worth about $1,884,000. Finally, Macquarie Group Ltd. lifted its holdings in Buenaventura Mining by 39.6% in the second quarter. Macquarie Group Ltd. now owns 4,678,583 shares of the mining company’s stock worth $53,806,000 after buying an additional 1,326,244 shares during the period. Institutional investors and hedge funds own 45.10% of the company’s stock.
Buenaventura Mining Company Profile
Compania de Minas Buenaventura SAA. (Buenaventura) is a precious metals company. The Company is engaged in the exploration, mining and processing of gold, silver and other metals in Peru. The Company’s segments include Production and sale of minerals; Exploration and development activities; Construction and engineering services; Energy generation and transmission services; Insurance brokerage; Rental of mining concessions; Holding of investment in shares (mainly in Minera Yanacocha S.R.L.
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