Buenaventura Mining Company Inc. $BVN Shares Acquired by Bank of Nova Scotia

Bank of Nova Scotia grew its stake in Buenaventura Mining Company Inc. (NYSE:BVN) by 83.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,520,383 shares of the mining company’s stock after acquiring an additional 1,143,072 shares during the period. Bank of Nova Scotia owned about 0.99% of Buenaventura Mining worth $90,835,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Buenaventura Mining by 3,096,894.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,884,290 shares of the mining company’s stock worth $163,760,000 after purchasing an additional 5,884,100 shares during the period. Robeco Institutional Asset Management B.V. raised its position in Buenaventura Mining by 738.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,979,757 shares of the mining company’s stock valued at $82,927,000 after purchasing an additional 2,624,485 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Buenaventura Mining by 244.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,742,829 shares of the mining company’s stock worth $48,503,000 after purchasing an additional 1,236,480 shares in the last quarter. FIL Ltd lifted its stake in Buenaventura Mining by 8.8% during the fourth quarter. FIL Ltd now owns 13,473,909 shares of the mining company’s stock worth $374,979,000 after purchasing an additional 1,085,443 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Buenaventura Mining by 672.9% during the fourth quarter. Millennium Management LLC now owns 980,530 shares of the mining company’s stock worth $27,288,000 after buying an additional 853,670 shares during the period.

Buenaventura Mining Stock Down 2.3%

Buenaventura Mining stock opened at $31.34 on Friday. The firm has a market capitalization of $7.95 billion, a P/E ratio of 8.14 and a beta of 0.42. The company has a current ratio of 2.01, a quick ratio of 1.88 and a debt-to-equity ratio of 0.16. Buenaventura Mining Company Inc. has a twelve month low of $16.90 and a twelve month high of $44.67. The stock’s fifty day simple moving average is $31.97 and its 200-day simple moving average is $34.51.

Buenaventura Mining (NYSE:BVN) last released its earnings results on Thursday, April 30th. The mining company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.09 by $0.23. Buenaventura Mining had a return on equity of 24.89% and a net margin of 47.72%.The firm had revenue of $624.56 million during the quarter, compared to analysts’ expectations of $666.00 million. As a group, equities analysts expect that Buenaventura Mining Company Inc. will post 4.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Morgan Stanley dropped their price objective on Buenaventura Mining from $42.50 to $34.50 and set an “overweight” rating for the company in a research note on Wednesday, July 8th. Scotiabank lowered their target price on Buenaventura Mining from $44.00 to $40.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Weiss Ratings downgraded Buenaventura Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. Wall Street Zen upgraded shares of Buenaventura Mining from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 28th. Finally, Zacks Research cut shares of Buenaventura Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Buenaventura Mining presently has an average rating of “Moderate Buy” and an average price target of $37.25.

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.