Pictet Asset Management Ltd. Sells 13,300 Shares of Buenaventura Mining Company Inc. (BVN)
Pictet Asset Management Ltd. decreased its position in shares of Buenaventura Mining Company Inc. (NYSE:BVN) by 2.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 555,308 shares of the mining company’s stock after selling 13,300 shares during the period. Pictet Asset Management Ltd. owned approximately 0.22% of Buenaventura Mining worth $6,908,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in BVN. Arlington Capital Management Inc. boosted its stake in Buenaventura Mining by 4.7% in the first quarter. Arlington Capital Management Inc. now owns 1,155,592 shares of the mining company’s stock valued at $13,913,000 after buying an additional 51,751 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Buenaventura Mining by 9.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 946,680 shares of the mining company’s stock valued at $10,678,000 after buying an additional 78,700 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Buenaventura Mining by 1.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 336,795 shares of the mining company’s stock valued at $4,055,000 after buying an additional 5,501 shares in the last quarter. Ronald Blue & Co. LLC purchased a new stake in Buenaventura Mining during the first quarter valued at about $127,000. Finally, Global X Management Co. LLC boosted its stake in Buenaventura Mining by 22.9% in the first quarter. Global X Management Co. LLC now owns 17,266 shares of the mining company’s stock valued at $208,000 after buying an additional 3,222 shares in the last quarter. Institutional investors own 49.32% of the company’s stock.
Shares of Buenaventura Mining Company Inc. (NYSE:BVN) opened at 12.33 on Thursday. The firm has a 50-day moving average of $11.99 and a 200 day moving average of $12.29. Buenaventura Mining Company Inc. has a 1-year low of $9.87 and a 1-year high of $16.45. The stock’s market capitalization is $3.80 billion.
Buenaventura Mining (NYSE:BVN) last posted its quarterly earnings results on Thursday, July 27th. The mining company reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.24. The firm had revenue of $256.73 million during the quarter, compared to the consensus estimate of $327.50 million. Buenaventura Mining had a negative return on equity of 11.01% and a negative net margin of 33.54%. The business’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 earnings per share. Analysts predict that Buenaventura Mining Company Inc. will post $0.97 EPS for the current year.
Several research firms have issued reports on BVN. ValuEngine cut shares of Buenaventura Mining from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. BidaskClub upgraded shares of Buenaventura Mining from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Credit Suisse Group reiterated a “hold” rating on shares of Buenaventura Mining in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $15.05.
About Buenaventura Mining
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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