Morgan Stanley Cuts Buenaventura Mining (NYSE:BVN) Price Target to $34.50

Buenaventura Mining (NYSE:BVN) had its price target lowered by equities researchers at Morgan Stanley from $42.50 to $34.50 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the mining company’s stock. Morgan Stanley’s price objective indicates a potential upside of 19.52% from the company’s current price.

Several other analysts have also issued reports on the stock. Weiss Ratings lowered shares of Buenaventura Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Wall Street Zen upgraded shares of Buenaventura Mining from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 28th. Finally, Zacks Research downgraded shares of Buenaventura Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.25.

Buenaventura Mining Stock Performance

Shares of Buenaventura Mining stock opened at $28.87 on Wednesday. Buenaventura Mining has a 52 week low of $16.06 and a 52 week high of $44.67. The company has a quick ratio of 1.88, a current ratio of 2.01 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average price of $32.93 and a 200-day moving average price of $34.37. The company has a market cap of $7.32 billion, a PE ratio of 7.50 and a beta of 0.42.

Buenaventura Mining (NYSE:BVN) last announced its earnings results on Thursday, April 30th. The mining company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.23. The company had revenue of $624.56 million for the quarter, compared to analysts’ expectations of $666.00 million. Buenaventura Mining had a return on equity of 24.89% and a net margin of 47.72%. Equities analysts anticipate that Buenaventura Mining will post 4.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Buenaventura Mining

Institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. grew its holdings in 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. Robeco Institutional Asset Management B.V. raised its stake in shares of Buenaventura Mining by 738.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,979,757 shares of the mining company’s stock valued at $82,927,000 after buying an additional 2,624,485 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 valued at $175,102,000 after buying an additional 1,999,475 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Buenaventura Mining by 244.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,742,829 shares of the mining company’s stock valued at $48,503,000 after buying an additional 1,236,480 shares during the last quarter. Finally, Bank of Nova Scotia grew its stake in shares of Buenaventura Mining by 83.0% during the 1st quarter. Bank of Nova Scotia now owns 2,520,383 shares of the mining company’s stock worth $90,835,000 after acquiring an additional 1,143,072 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.