Citigroup Inc. Decreases Stake in Buenaventura Mining Company Inc. $BVN

Citigroup Inc. reduced its stake in shares of Buenaventura Mining Company Inc. (NYSE:BVN) by 18.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 440,435 shares of the mining company’s stock after selling 96,747 shares during the period. Citigroup Inc. owned approximately 0.17% of Buenaventura Mining worth $10,716,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Tidal Investments LLC lifted its position in Buenaventura Mining by 11.8% during the 2nd quarter. Tidal Investments LLC now owns 2,858,519 shares of the mining company’s stock worth $46,937,000 after acquiring an additional 302,523 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Buenaventura Mining by 20.6% in the second quarter. JPMorgan Chase & Co. now owns 2,291,838 shares of the mining company’s stock worth $37,632,000 after purchasing an additional 391,465 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Buenaventura Mining by 2.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,278,411 shares of the mining company’s stock worth $19,982,000 after purchasing an additional 25,440 shares during the period. Artisan Partners Limited Partnership boosted its position in Buenaventura Mining by 69.4% in the second quarter. Artisan Partners Limited Partnership now owns 1,217,376 shares of the mining company’s stock valued at $19,989,000 after buying an additional 498,585 shares during the last quarter. Finally, Candriam S.C.A. increased its holdings in Buenaventura Mining by 14.9% in the 3rd quarter. Candriam S.C.A. now owns 724,000 shares of the mining company’s stock worth $17,615,000 after buying an additional 94,000 shares during the period.

Buenaventura Mining Price Performance

NYSE:BVN opened at $43.48 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.05. The company has a 50 day moving average price of $35.03 and a 200-day moving average price of $27.08. Buenaventura Mining Company Inc. has a 1-year low of $12.45 and a 1-year high of $44.67. The firm has a market cap of $11.03 billion, a price-to-earnings ratio of 14.12 and a beta of 0.31.

Buenaventura Mining (NYSE:BVN) last released its quarterly earnings results on Thursday, February 26th. The mining company reported $1.62 EPS for the quarter, beating the consensus estimate of $0.59 by $1.03. Buenaventura Mining had a net margin of 30.70% and a return on equity of 11.76%. The company had revenue of $623.40 million for the quarter, compared to analyst estimates of $451.60 million. Equities research analysts forecast that Buenaventura Mining Company Inc. will post 1.13 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on BVN. Weiss Ratings restated a “buy (b)” rating on shares of Buenaventura Mining in a research note on Monday, December 29th. Wall Street Zen raised shares of Buenaventura Mining from a “hold” rating to a “buy” rating in a report on Sunday. Zacks Research upgraded shares of Buenaventura Mining from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. Finally, Scotiabank cut their price target on Buenaventura Mining from $27.50 to $27.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $27.00.

Buenaventura Mining 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.