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

Buenaventura Mining (NYSE:BVN) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks reports.

BVN has been the subject of a number of other reports. Weiss Ratings restated a “buy (b-)” rating on shares of Buenaventura Mining in a report on Friday, July 31st. Wall Street Zen raised Buenaventura Mining from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. Morgan Stanley cut their price target on shares of Buenaventura Mining from $42.50 to $34.50 and set an “overweight” rating on the stock in a research note on Wednesday, July 8th. Finally, Scotiabank reduced 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 research report on Tuesday, July 14th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.25.

Buenaventura Mining Stock Down 3.0%

NYSE:BVN opened at $30.56 on Tuesday. 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 stock’s fifty day moving average is $33.55 and its two-hundred day moving average is $33.21. Buenaventura Mining has a 52 week low of $21.00 and a 52 week high of $44.67. The stock has a market capitalization of $7.75 billion, a price-to-earnings ratio of 6.91 and a beta of 0.43.

Buenaventura Mining (NYSE:BVN) last released its quarterly earnings results on Thursday, July 30th. The mining company reported $0.94 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $610.00 million. Research analysts anticipate that Buenaventura Mining will post 3.99 EPS for the current year.

Hedge Funds Weigh In On Buenaventura Mining

Several hedge funds and other institutional investors have recently made changes to their positions in BVN. Mather Group LLC. acquired a new stake in shares of Buenaventura Mining during the 3rd quarter worth about $31,000. Perpetual Ltd purchased a new stake in Buenaventura Mining during the third quarter worth approximately $1,667,000. Andra AP fonden boosted its holdings in Buenaventura Mining by 171.3% in the second quarter. Andra AP fonden now owns 294,100 shares of the mining company’s stock valued at $8,614,000 after purchasing an additional 185,700 shares in the last quarter. ABS Direct Equity Fund LLC boosted its holdings in Buenaventura Mining by 309.2% in the second quarter. ABS Direct Equity Fund LLC now owns 53,200 shares of the mining company’s stock valued at $1,558,000 after purchasing an additional 40,200 shares in the last quarter. Finally, National Pension Service boosted its holdings in Buenaventura Mining by 1.3% in the second quarter. National Pension Service now owns 45,616 shares of the mining company’s stock valued at $1,336,000 after purchasing an additional 589 shares in the last quarter.

Buenaventura Mining Company Profile

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.