Buenaventura Mining (NYSE:BVN) Raised to Buy at Wall Street Zen

Buenaventura Mining (NYSE:BVN) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday, Wall Street Zen reports.

Several other research analysts have also recently weighed in on the company. Morgan Stanley reduced their price objective on Buenaventura Mining from $42.50 to $34.50 and set an “overweight” rating for the company in a research report on Wednesday, July 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Buenaventura Mining in a research report on Friday, July 31st. Scotiabank dropped their target price on Buenaventura Mining from $44.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Finally, Zacks Research cut Buenaventura Mining from a “hold” rating to a “strong sell” rating in a research note on Monday, September 14th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $37.25.

Buenaventura Mining Price Performance

Shares of NYSE BVN opened at $32.45 on Friday. The firm has a market cap of $8.23 billion, a PE ratio of 7.34 and a beta of 0.43. The company has a current ratio of 2.59, a quick ratio of 2.43 and a debt-to-equity ratio of 0.15. Buenaventura Mining has a 1-year low of $21.00 and a 1-year high of $44.67. The company has a fifty day moving average price of $33.57 and a 200 day moving average price of $33.23.

Buenaventura Mining (NYSE:BVN) last released its earnings results on Thursday, July 30th. The mining company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). Buenaventura Mining had a return on equity of 26.53% and a net margin of 50.88%. The firm had revenue of $528.99 million for the quarter, compared to the consensus estimate of $610.00 million. Research analysts predict that Buenaventura Mining will post 3.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BVN. Centrica Wealth Management LLC bought a new stake in shares of Buenaventura Mining during the 2nd quarter worth approximately $131,547,000. Bank of Nova Scotia grew its stake in shares of Buenaventura Mining by 83.0% in the first 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. Arrowstreet Capital Limited Partnership grew its stake in shares of Buenaventura Mining by 32.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,301,015 shares of the mining company’s stock valued at $82,929,000 after buying an additional 558,186 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Buenaventura Mining by 140.8% in the first quarter. Jennison Associates LLC now owns 1,267,998 shares of the mining company’s stock valued at $45,699,000 after buying an additional 741,344 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in Buenaventura Mining by 13,674.3% during the first quarter. Royal Bank of Canada now owns 720,810 shares of the mining company’s stock worth $25,977,000 after buying an additional 715,577 shares during the last quarter.

About Buenaventura Mining

Compañía de Minas Buenaventura SAA., known as Buenaventura Mining, is a Peru-based mining company engaged in the exploration, development, construction, and operation of mineral projects. Its portfolio has historically focused on precious and base metals, including gold, silver, lead, and zinc.

Founded in 1953, Buenaventura operates primarily in Peru and has developed interests in several mining districts throughout the country. Its activities have included underground and open-pit mining, mineral processing, exploration, and project development.