Buenaventura Mining (NYSE:BVN) Reaches New 52-Week High – Should You Buy?

Shares of Buenaventura Mining Company Inc. (NYSE:BVN) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $42.00 and last traded at $43.0220, with a volume of 9810 shares changing hands. The stock had previously closed at $41.13.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Scotiabank cut their target price on Buenaventura Mining from $27.50 to $27.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 19th. Zacks Research raised Buenaventura Mining from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Buenaventura Mining in a research note on Monday, December 29th. Finally, Wall Street Zen cut Buenaventura Mining from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $27.00.

Buenaventura Mining Stock Performance

The firm’s 50 day moving average price is $34.73 and its 200-day moving average price is $26.84. The firm has a market cap of $11.16 billion, a price-to-earnings ratio of 25.86 and a beta of 0.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.05.

Institutional Investors Weigh In On Buenaventura Mining

Hedge funds have recently made changes to their positions in the stock. FIL Ltd increased its stake in Buenaventura Mining by 8.8% during the fourth quarter. FIL Ltd now owns 13,473,909 shares of the mining company’s stock valued at $374,979,000 after acquiring an additional 1,085,443 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Buenaventura Mining by 38.5% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,196,976 shares of the mining company’s stock worth $175,102,000 after purchasing an additional 1,999,475 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Buenaventura Mining by 3,096,894.7% during 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. State Street Corp raised its stake in shares of Buenaventura Mining by 1.2% in the fourth quarter. State Street Corp now owns 3,586,205 shares of the mining company’s stock valued at $99,804,000 after purchasing an additional 44,033 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in Buenaventura Mining by 10.5% in the third quarter. Tidal Investments LLC now owns 3,158,341 shares of the mining company’s stock worth $76,842,000 after purchasing an additional 299,822 shares during the period.

Buenaventura Mining Company Profile

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.