Scotiabank Forecasts Strong Price Appreciation for Buenaventura Mining (NYSE:BVN) Stock

Buenaventura Mining (NYSE:BVN) had its price target upped by equities researchers at Scotiabank from $42.00 to $44.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the mining company’s stock. Scotiabank’s target price would indicate a potential upside of 13.72% from the stock’s current price.

Several other research firms also recently weighed in on BVN. Weiss Ratings reissued a “buy (b)” rating on shares of Buenaventura Mining in a report on Monday, December 29th. Wall Street Zen raised Buenaventura Mining from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Zacks Research raised shares of Buenaventura Mining from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $44.00.

Buenaventura Mining Stock Down 9.6%

BVN opened at $38.69 on Monday. The company has a market cap of $9.82 billion, a PE ratio of 12.56 and a beta of 0.26. Buenaventura Mining has a twelve month low of $12.56 and a twelve month high of $44.67. The company has a 50-day moving average price of $35.48 and a 200 day moving average price of $27.46. The company has a quick ratio of 2.05, a current ratio of 2.27 and a debt-to-equity ratio of 0.18.

Buenaventura Mining (NYSE:BVN) last issued its earnings results on Thursday, February 26th. The mining company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $1.03. The company had revenue of $623.40 million during the quarter, compared to analysts’ expectations of $451.60 million. Buenaventura Mining had a return on equity of 21.09% and a net margin of 45.17%. Sell-side analysts expect that Buenaventura Mining will post 1.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC grew its position in Buenaventura Mining by 1,725.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,917 shares of the mining company’s stock worth $55,000 after buying an additional 1,812 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Buenaventura Mining in the second quarter worth about $32,000. Headlands Technologies LLC grew its holdings in Buenaventura Mining by 60.9% during the second quarter. Headlands Technologies LLC now owns 3,761 shares of the mining company’s stock valued at $62,000 after purchasing an additional 1,424 shares during the last quarter. Assetmark Inc. grew its stake in Buenaventura Mining by 463.4% in the 4th quarter. Assetmark Inc. now owns 3,983 shares of the mining company’s stock valued at $111,000 after buying an additional 3,276 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its position in Buenaventura Mining by 3,503.4% during the 4th quarter. Global Retirement Partners LLC now owns 4,216 shares of the mining company’s stock worth $117,000 after acquiring an additional 4,099 shares during the last quarter.

About Buenaventura Mining

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.