Buenaventura Mining (NYSE:BVN) Sets New 52-Week High on Better-Than-Expected Earnings

Buenaventura Mining Company Inc. (NYSE:BVN)’s share price hit a new 52-week high during trading on Friday following a better than expected earnings announcement. The stock traded as high as $42.00 and last traded at $43.0220, with a volume of 9810 shares changing hands. The stock had previously closed at $41.13.

The mining company reported $1.62 EPS for the quarter, topping the consensus estimate of $0.59 by $1.03. The business had revenue of $623.40 million for the quarter, compared to the consensus estimate of $451.60 million. Buenaventura Mining had a return on equity of 11.76% and a net margin of 30.70%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BVN shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Buenaventura Mining in a report on Monday, December 29th. Scotiabank dropped their target price on shares of Buenaventura Mining from $27.50 to $27.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 19th. Wall Street Zen upgraded shares of Buenaventura Mining from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Zacks Research raised shares of Buenaventura Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $27.00.

Institutional Investors Weigh In On Buenaventura Mining

Several institutional investors have recently modified their holdings of the business. Corient Private Wealth LLC lifted its holdings in Buenaventura Mining by 2.7% in the fourth quarter. Corient Private Wealth LLC now owns 17,857 shares of the mining company’s stock valued at $497,000 after buying an additional 470 shares during the period. Vident Advisory LLC raised its position in shares of Buenaventura Mining by 10.3% during the 4th quarter. Vident Advisory LLC now owns 85,350 shares of the mining company’s stock valued at $2,375,000 after acquiring an additional 7,985 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Buenaventura Mining in the 4th quarter valued at $1,847,000. Voloridge Investment Management LLC bought a new position in shares of Buenaventura Mining in the 4th quarter worth $3,641,000. Finally, SummitTX Capital L.P. grew its stake in shares of Buenaventura Mining by 192.1% during the fourth quarter. SummitTX Capital L.P. now owns 306,547 shares of the mining company’s stock worth $8,531,000 after purchasing an additional 201,594 shares during the period.

Buenaventura Mining Stock Up 5.7%

The business has a fifty day moving average of $35.03 and a 200 day moving average of $27.08. The company has a quick ratio of 2.05, a current ratio of 2.27 and a debt-to-equity ratio of 0.18. The firm has a market cap of $11.03 billion, a P/E ratio of 14.12 and a beta of 0.31.

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.