Compania de Minas Buenaventura SAA (BVN) Upgraded to Buy by Zacks Investment Research

Compania de Minas Buenaventura SAA (NYSE:BVN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $16.00 target price on the mining company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.76% from the stock’s previous close.

According to Zacks, “COMPAÑÍA DE MINAS BUENAVENTURA is a leading mining company producing precious metals and holding mining rights in Peru. Since its inception in 1953, Buenaventura has focused on exploration and exploitation activities both by its own and through joint ventures. Buenaventura also is an important shareholder of Minera Yanacocha S.R.L., one of the leading gold producers in Latin America. “

A number of other equities analysts have also recently issued reports on the stock. Scotiabank raised shares of Compania de Minas Buenaventura SAA from an “underperform” rating to a “sector perform” rating in a research note on Monday, October 30th. Morgan Stanley raised shares of Compania de Minas Buenaventura SAA from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $13.00 to $17.30 in a research note on Monday, September 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $16.65.

Shares of Compania de Minas Buenaventura SAA (NYSE:BVN) traded down $0.16 during mid-day trading on Tuesday, reaching $14.19. 948,118 shares of the company’s stock were exchanged, compared to its average volume of 1,394,467. Compania de Minas Buenaventura SAA has a 1 year low of $10.87 and a 1 year high of $15.15. The company has a market capitalization of $3,960.00, a PE ratio of -10.51 and a beta of 0.92. The company has a current ratio of 1.21, a quick ratio of 0.95 and a debt-to-equity ratio of 0.16.

Several hedge funds and other institutional investors have recently made changes to their positions in BVN. JPMorgan Chase & Co. boosted its position in shares of Compania de Minas Buenaventura SAA by 1.2% during the second quarter. JPMorgan Chase & Co. now owns 392,393 shares of the mining company’s stock worth $4,512,000 after purchasing an additional 4,534 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Compania de Minas Buenaventura SAA by 0.7% during the second quarter. Wells Fargo & Company MN now owns 2,789,819 shares of the mining company’s stock worth $32,083,000 after purchasing an additional 19,000 shares in the last quarter. Icon Advisers Inc. Co. bought a new position in shares of Compania de Minas Buenaventura SAA during the second quarter worth $7,926,000. UBS Asset Management Americas Inc. boosted its position in shares of Compania de Minas Buenaventura SAA by 9.1% during the second quarter. UBS Asset Management Americas Inc. now owns 1,017,780 shares of the mining company’s stock worth $11,704,000 after purchasing an additional 84,850 shares in the last quarter. Finally, Citigroup Inc. boosted its position in shares of Compania de Minas Buenaventura SAA by 380.1% during the second quarter. Citigroup Inc. now owns 337,029 shares of the mining company’s stock worth $3,876,000 after purchasing an additional 266,834 shares in the last quarter. 45.27% of the stock is currently owned by institutional investors.

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Compania de Minas Buenaventura SAA 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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