Buenaventura Mining (NYSE:BVN) Stock Rating Raised to Hold at Zacks Research

Zacks Research upgraded shares of Buenaventura Mining (NYSE:BVN) from a strong sell rating to a hold rating in a research note published on Tuesday morning,Zacks reports.

BVN has been the subject of several other research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Buenaventura Mining in a report on Friday, July 31st. Wall Street Zen upgraded shares of Buenaventura Mining from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. Morgan Stanley lowered their price target on shares of Buenaventura Mining from $42.50 to $34.50 and set an “overweight” rating on the stock in a report on Wednesday, July 8th. Finally, Scotiabank lowered their price target on shares of Buenaventura Mining from $44.00 to $40.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.25.

Buenaventura Mining Stock Down 3.0%

BVN stock opened at $30.56 on Tuesday. The stock has a market capitalization of $7.75 billion, a PE ratio of 6.91 and a beta of 0.43. Buenaventura Mining has a 52 week low of $21.00 and a 52 week high of $44.67. The company has a quick ratio of 2.43, a current ratio of 2.59 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $33.55 and a 200 day moving average of $33.21.

Buenaventura Mining (NYSE:BVN) last released its earnings results on Thursday, July 30th. The mining company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). Buenaventura Mining had a return on equity of 26.53% and a net margin of 50.88%. The firm had revenue of $528.99 million for the quarter, compared to analyst estimates of $610.00 million. Sell-side analysts forecast that Buenaventura Mining will post 3.99 earnings per share for the current year.

Hedge Funds Weigh In On Buenaventura Mining

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Centrica Wealth Management LLC purchased a new stake in shares of Buenaventura Mining in the second quarter valued at about $131,547,000. Bank of Nova Scotia raised its stake in Buenaventura Mining by 83.0% during the first quarter. Bank of Nova Scotia now owns 2,520,383 shares of the mining company’s stock worth $90,835,000 after purchasing an additional 1,143,072 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Buenaventura Mining by 32.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,301,015 shares of the mining company’s stock worth $82,929,000 after purchasing an additional 558,186 shares during the period. Jennison Associates LLC raised its stake in Buenaventura Mining by 140.8% during the first quarter. Jennison Associates LLC now owns 1,267,998 shares of the mining company’s stock worth $45,699,000 after purchasing an additional 741,344 shares during the period. Finally, Royal Bank of Canada raised its stake in Buenaventura Mining by 13,674.3% during the first quarter. Royal Bank of Canada now owns 720,810 shares of the mining company’s stock worth $25,977,000 after purchasing an additional 715,577 shares during the period.

About Buenaventura Mining

Compañía de Minas Buenaventura SAA., known as Buenaventura Mining, is a Peru-based mining company engaged in the exploration, development, construction, and operation of mineral projects. Its portfolio has historically focused on precious and base metals, including gold, silver, lead, and zinc.

Founded in 1953, Buenaventura operates primarily in Peru and has developed interests in several mining districts throughout the country. Its activities have included underground and open-pit mining, mineral processing, exploration, and project development.