Buenaventura Mining (NYSE:BVN) Stock Rating Raised to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Buenaventura Mining (NYSE:BVN) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday,Zacks reports.

Other equities research analysts also recently issued reports about the stock. Scotiabank lowered their target price on shares of Buenaventura Mining from $44.00 to $40.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Buenaventura Mining in a research report on Thursday, October 29th. Finally, Wall Street Zen upgraded Buenaventura Mining from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $37.25.

Buenaventura Mining Stock Down 3.2%

NYSE:BVN opened at $25.28 on Wednesday. Buenaventura Mining has a fifty-two week low of $22.43 and a fifty-two week high of $44.67. The stock has a market capitalization of $6.41 billion, a P/E ratio of 5.36 and a beta of 0.40. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.43 and a current ratio of 2.59. The company’s 50-day simple moving average is $30.96 and its 200-day simple moving average is $33.50.

Buenaventura Mining (NYSE:BVN) last issued its quarterly earnings data on Thursday, October 29th. The mining company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.10. Buenaventura Mining had a net margin of 51.78% and a return on equity of 27.60%. The firm had revenue of $545.33 million for the quarter, compared to the consensus estimate of $439.69 million. On average, equities analysts anticipate that Buenaventura Mining will post 4.01 earnings per share for the current fiscal year.

Buenaventura Mining Announces Dividend

The firm also recently declared a special dividend, which will be paid on Wednesday, December 9th. Stockholders of record on Friday, November 20th will be paid a dividend of $0.5508 per share. The ex-dividend date is Friday, November 20th. Buenaventura Mining’s payout ratio is presently 23.09%.

Hedge Funds Weigh In On Buenaventura Mining

Several hedge funds have recently modified their holdings of BVN. Robeco Institutional Asset Management B.V. boosted its stake in Buenaventura Mining by 0.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,311,426 shares of the mining company’s stock worth $136,155,000 after purchasing an additional 40,110 shares in the last quarter. Centrica Wealth Management LLC acquired a new position in Buenaventura Mining during the 2nd quarter valued at approximately $131,547,000. Bank of Nova Scotia increased its stake in 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 valued at $90,835,000 after purchasing an additional 1,143,072 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Buenaventura Mining by 32.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,301,015 shares of the mining company’s stock worth $82,929,000 after buying an additional 558,186 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Buenaventura Mining by 140.8% in the first quarter. Jennison Associates LLC now owns 1,267,998 shares of the mining company’s stock worth $45,699,000 after buying an additional 741,344 shares during the last quarter.

About Buenaventura Mining

Compañía de Minas Buenaventura S.A.A., known as Buenaventura, is a Peru-based mining company engaged in the exploration, development, and operation of mineral properties. Its products include gold, silver, copper, lead, and zinc. The company operates in Peru and participates in mining projects through subsidiaries, joint ventures, and ownership interests. Its portfolio has included both precious- and base-metal operations, as well as interests in larger mining ventures. Founded in 1953, Buenaventura is headquartered in Lima.