Compania de Minas Buenaventura SA Stock Rating Upgraded by Morgan Stanley (BVN)
Compania de Minas Buenaventura SA (NYSE:BVN) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday, Analyst Ratings Net reports. The firm currently has a $15.80 target price on the stock. Morgan Stanley’s price objective would suggest a potential upside of 24.51% from the stock’s previous close.
The analysts wrote, “BVN is down 65% LTM, underperforming gold by 39 pct. pts. and its NA peers by 12 pct. pts,” the report noted. “The stock trades 39% below the average of its NA peers’ 2014 P/E. Using market values for Cerro Verde and El Brocal and BVN’s stake in each, we derive an implied market value for BVN’s precious metals operations. We calculate that the valuation of those operations is down by 47% since 2007. Further, BVN’s valuation discounts gold at ~$1,000/oz in perpetuity, 19% below spot of $1,240 and 14% below our commodities team’s new 2014 forecast of $1,160.”
Shares of Compania de Minas Buenaventura SA (NYSE:BVN) traded up 2.21% on Wednesday, hitting $12.97. 1,743,974 shares of the company’s stock traded hands. Compania de Minas Buenaventura SA has a one year low of $10.54 and a one year high of $34.74. The stock has a 50-day moving average of $11.29 and a 200-day moving average of $12.64. The company has a market cap of $3.297 billion and a P/E ratio of 10.02.
A number of other firms have also recently commented on BVN. Analysts at Zacks downgraded shares of Compania de Minas Buenaventura SA from a “neutral” rating to an “underperform” rating in a research note to investors on Monday, January 13th. They now have a $10.80 price target on the stock. Separately, analysts at Scotiabank raised their price target on shares of Compania de Minas Buenaventura SA from $15.50 to $16.50 in a research note to investors on Monday, November 4th. Three analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $16.42.
Compania de Minas Buenaventura SAA. (NYSE:BVN) is a precious metals company engaged in the exploration, mining and processing of gold, silver and other metals in Peru.
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