Buenaventura Mining Company Inc. $BVN Position Cut by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its stake in Buenaventura Mining Company Inc. (NYSE:BVN) by 7.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,130,912 shares of the mining company’s stock after selling 160,926 shares during the quarter. JPMorgan Chase & Co.’s holdings in Buenaventura Mining were worth $51,845,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Buenaventura Mining during the second quarter valued at $32,000. Headlands Technologies LLC lifted its position in Buenaventura Mining by 60.9% during the 2nd quarter. Headlands Technologies LLC now owns 3,761 shares of the mining company’s stock worth $62,000 after acquiring an additional 1,424 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Buenaventura Mining by 18.8% during 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 last quarter. PNC Financial Services Group Inc. boosted its stake in Buenaventura Mining by 24.9% during 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 period. Finally, Voya Investment Management LLC acquired a new stake in Buenaventura Mining in the 3rd quarter valued at approximately $231,000.

Buenaventura Mining Stock Up 2.9%

BVN opened at $40.02 on Thursday. The stock has a market cap of $10.15 billion, a PE ratio of 23.54 and a beta of 0.31. The company has a current ratio of 2.27, a quick ratio of 2.05 and a debt-to-equity ratio of 0.18. Buenaventura Mining Company Inc. has a 1-year low of $12.45 and a 1-year high of $41.28. The stock’s fifty day simple moving average is $34.47 and its 200 day simple moving average is $26.74.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Wall Street Zen cut Buenaventura Mining from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Zacks Research raised shares of Buenaventura Mining from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Scotiabank reduced their price target on shares of Buenaventura Mining from $27.50 to $27.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 19th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Buenaventura Mining in a research report on Monday, December 29th. 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 MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $27.00.

About Buenaventura Mining

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.