Bank of Nova Scotia Sells 1,994,155 Shares of Buenaventura Mining Company Inc. $BVN

Bank of Nova Scotia decreased its holdings in Buenaventura Mining Company Inc. (NYSE:BVN) by 26.7% in the third quarter, Holdings Channel reports. The fund owned 5,476,160 shares of the mining company’s stock after selling 1,994,155 shares during the quarter. Bank of Nova Scotia’s holdings in Buenaventura Mining were worth $133,235,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in Buenaventura Mining in the second quarter worth about $32,000. Headlands Technologies LLC raised its position in Buenaventura Mining by 60.9% during the second quarter. Headlands Technologies LLC now owns 3,761 shares of the mining company’s stock valued at $62,000 after purchasing an additional 1,424 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Buenaventura Mining by 24.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,210 shares of the mining company’s stock valued at $135,000 after purchasing an additional 1,637 shares during the last quarter. Savant Capital LLC bought a new stake in shares of Buenaventura Mining in the 2nd quarter valued at approximately $166,000. Finally, Blue Trust Inc. boosted its holdings in shares of Buenaventura Mining by 18.8% in the 3rd quarter. Blue Trust Inc. now owns 8,111 shares of the mining company’s stock worth $197,000 after purchasing an additional 1,283 shares during the period.

Buenaventura Mining Stock Down 4.2%

Shares of NYSE:BVN opened at $35.22 on Friday. The firm has a market capitalization of $8.93 billion, a PE ratio of 11.43 and a beta of 0.26. The business has a 50 day simple moving average of $36.91 and a two-hundred day simple moving average of $28.46. Buenaventura Mining Company Inc. has a 1 year low of $12.56 and a 1 year high of $44.67. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.05.

Buenaventura Mining (NYSE:BVN) last issued its quarterly earnings results on Thursday, February 26th. The mining company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $0.59 by $1.03. Buenaventura Mining had a return on equity of 21.09% and a net margin of 45.17%.The firm had revenue of $623.40 million for the quarter, compared to the consensus estimate of $451.60 million. On average, equities analysts predict that Buenaventura Mining Company Inc. will post 1.13 EPS for the current year.

Wall Street Analyst Weigh In

BVN has been the topic of several analyst reports. Zacks Research raised Buenaventura Mining from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. Wall Street Zen raised shares of Buenaventura Mining from a “hold” rating to a “buy” rating in a research note on Sunday, March 1st. Scotiabank boosted their price objective on shares of Buenaventura Mining from $42.00 to $44.00 and gave the company a “sector perform” rating in a research report on Monday, March 2nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Buenaventura Mining in a research note on Monday, December 29th. One 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. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $44.00.

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.