Bank of Nova Scotia Sells 2,173,726 Shares of Buenaventura Mining Company Inc. (NYSE:BVN)

Bank of Nova Scotia trimmed its stake in shares of Buenaventura Mining Company Inc. (NYSE:BVN) by 20.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,356,620 shares of the mining company’s stock after selling 2,173,726 shares during the quarter. Bank of Nova Scotia owned 3.29% of Buenaventura Mining worth $130,614,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Buenaventura Mining during the first quarter valued at $36,000. Voya Investment Management LLC purchased a new stake in shares of Buenaventura Mining in the 4th quarter valued at about $144,000. Cetera Investment Advisers bought a new stake in shares of Buenaventura Mining during the 1st quarter valued at about $157,000. Bridgefront Capital LLC bought a new stake in shares of Buenaventura Mining during the 4th quarter valued at about $158,000. Finally, Quadrant Capital Group LLC grew its holdings in shares of Buenaventura Mining by 13.0% during the fourth quarter. Quadrant Capital Group LLC now owns 15,217 shares of the mining company’s stock worth $175,000 after purchasing an additional 1,749 shares in the last quarter.

Buenaventura Mining Stock Up 0.3%

Shares of BVN opened at $17.06 on Friday. Buenaventura Mining Company Inc. has a 1 year low of $11.50 and a 1 year high of $17.98. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.75 and a quick ratio of 1.58. The stock has a 50 day simple moving average of $16.52 and a two-hundred day simple moving average of $14.85. The firm has a market cap of $4.33 billion, a P/E ratio of 8.66 and a beta of 0.34.

Buenaventura Mining (NYSE:BVN) last announced its quarterly earnings data on Thursday, July 24th. The mining company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.10. Buenaventura Mining had a net margin of 38.38% and a return on equity of 9.63%. The firm had revenue of $369.50 million during the quarter, compared to analyst estimates of $338.29 million. On average, analysts forecast that Buenaventura Mining Company Inc. will post 1.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BVN shares. Wall Street Zen raised shares of Buenaventura Mining from a “hold” rating to a “buy” rating in a research note on Saturday. Scotiabank raised their price target on Buenaventura Mining from $15.00 to $15.50 and gave the company a “sector perform” rating in a research report on Monday, April 14th.

Buenaventura Mining Company Profile

Compañía de Minas Buenaventura SAA. engages in the exploration, development, construction, and operation of mineral processing business. The company explores for gold, silver, lead, zinc, and copper metals. It operates operating mining units, including Tambomayo located in the Caylloma province, Orcopampa Unit located in the province of Castilla, Uchucchacua located in province of Oyón, Julcani located in province of Angaraes, Peru, as well as San Gabrie located in the province of General Sánchez Cerro, in the Moquegua region.