Compania de Minas Buenaventura SAA (NYSE:BVN) Cut to “Sell” at Zacks Investment Research

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Zacks Investment Research lowered shares of Compania de Minas Buenaventura SAA (NYSE:BVN) from a hold rating to a sell rating in a report released on Monday, Zacks.com reports.

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. “

Several other equities analysts also recently weighed in on the stock. Citigroup set a $20.00 target price on shares of Compania de Minas Buenaventura SAA and gave the company a buy rating in a report on Thursday, April 4th. JPMorgan Chase & Co. raised their target price on shares of Compania de Minas Buenaventura SAA from $14.00 to $18.00 and gave the company an overweight rating in a report on Tuesday, March 19th. Goldman Sachs Group started coverage on shares of Compania de Minas Buenaventura SAA in a report on Tuesday, February 19th. They set a sell rating for the company. Finally, Morgan Stanley downgraded shares of Compania de Minas Buenaventura SAA from an overweight rating to an equal weight rating in a report on Monday, February 25th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $17.50.

Shares of Compania de Minas Buenaventura SAA stock opened at $15.81 on Monday. Compania de Minas Buenaventura SAA has a 1 year low of $11.67 and a 1 year high of $17.78. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 49.41 and a beta of 0.56. The company has a current ratio of 1.91, a quick ratio of 1.57 and a debt-to-equity ratio of 0.18.

Compania de Minas Buenaventura SAA (NYSE:BVN) last released its earnings results on Tuesday, April 30th. The mining company reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.02. Compania de Minas Buenaventura SAA had a negative net margin of 0.87% and a positive return on equity of 2.29%. The company had revenue of $186.20 million during the quarter, compared to analysts’ expectations of $178.62 million. On average, research analysts forecast that Compania de Minas Buenaventura SAA will post 0.63 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its position in Compania de Minas Buenaventura SAA by 122.5% during the fourth quarter. Van ECK Associates Corp now owns 34,458,637 shares of the mining company’s stock valued at $558,919,000 after buying an additional 18,971,580 shares in the last quarter. Deutsche Bank AG lifted its position in Compania de Minas Buenaventura SAA by 206.1% during the fourth quarter. Deutsche Bank AG now owns 2,588,834 shares of the mining company’s stock valued at $41,988,000 after buying an additional 1,743,080 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in Compania de Minas Buenaventura SAA by 96.6% during the fourth quarter. Canada Pension Plan Investment Board now owns 74,010 shares of the mining company’s stock valued at $1,200,000 after buying an additional 36,363 shares in the last quarter. Eaton Vance Management lifted its position in Compania de Minas Buenaventura SAA by 56.4% during the fourth quarter. Eaton Vance Management now owns 51,880 shares of the mining company’s stock valued at $841,000 after buying an additional 18,700 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Compania de Minas Buenaventura SAA by 16.9% during the fourth quarter. American Century Companies Inc. now owns 676,200 shares of the mining company’s stock valued at $10,968,000 after buying an additional 97,700 shares in the last quarter. Hedge funds and other institutional investors own 59.56% of the company’s stock.

Compania de Minas Buenaventura SAA Company Profile

Compañía de Minas Buenaventura SAA., a precious metals company, engages in the exploration, mining, and processing of gold, silver, lead, zinc, and copper metals in Peru, the United States, Europe, and Asia. The company operates five operating mining units, including Uchucchacua, Orcopampa, Julcani, Mallay, and Tambomayo in Peru; and San Gabriel, a mining unit under development stage.

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