Buenaventura Mining Company Inc. (BVN) Upgraded at Morgan Stanley
Buenaventura Mining Company Inc. (NYSE:BVN) was upgraded by Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Monday, MarketBeat Ratings reports. The brokerage presently has a $17.30 price objective on the mining company’s stock, up from their previous price objective of $13.00. Morgan Stanley’s price objective suggests a potential upside of 30.17% from the company’s current price.
A number of other brokerages have also issued reports on BVN. BidaskClub lowered shares of Buenaventura Mining from a “hold” rating to a “sell” rating in a research report on Friday, June 30th. ValuEngine lowered shares of Buenaventura Mining from a “hold” rating to a “sell” rating in a research report on Tuesday, June 13th. Finally, Credit Suisse Group reiterated a “hold” rating on shares of Buenaventura Mining in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $15.80.
Shares of Buenaventura Mining (BVN) traded up 4.21% during mid-day trading on Monday, hitting $13.38. 1,067,333 shares of the company traded hands. The firm’s market cap is $4.12 billion. Buenaventura Mining has a 52-week low of $9.87 and a 52-week high of $14.77. The firm has a 50-day moving average price of $12.91 and a 200 day moving average price of $12.28.
Buenaventura Mining (NYSE:BVN) last announced its earnings results on Thursday, July 27th. The mining company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.24). The company had revenue of $256.73 million during the quarter, compared to the consensus estimate of $327.50 million. Buenaventura Mining had a negative net margin of 33.54% and a negative return on equity of 11.01%. The business’s quarterly revenue was down 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 EPS. Equities research analysts anticipate that Buenaventura Mining will post $0.91 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the business. World Asset Management Inc lifted its holdings in Buenaventura Mining by 0.7% in the 1st quarter. World Asset Management Inc now owns 17,056 shares of the mining company’s stock valued at $205,000 after acquiring an additional 121 shares during the last quarter. Comerica Bank lifted its holdings in Buenaventura Mining by 1.3% in the 1st quarter. Comerica Bank now owns 15,760 shares of the mining company’s stock valued at $183,000 after acquiring an additional 205 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in Buenaventura Mining by 0.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 78,208 shares of the mining company’s stock valued at $940,000 after acquiring an additional 700 shares during the last quarter. California Public Employees Retirement System lifted its holdings in Buenaventura Mining by 0.7% in the 2nd quarter. California Public Employees Retirement System now owns 268,306 shares of the mining company’s stock valued at $3,086,000 after acquiring an additional 1,756 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Buenaventura Mining by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 401,354 shares of the mining company’s stock valued at $4,595,000 after acquiring an additional 1,895 shares during the last quarter. 44.93% of the stock is owned by institutional investors.
Buenaventura Mining Company Profile
Compania de Minas Buenaventura SAA. (Buenaventura) is a precious metals company. The Company is engaged in the exploration, mining and processing of gold, silver and other metals in Peru. The Company’s segments include Production and sale of minerals; Exploration and development activities; Construction and engineering services; Energy generation and transmission services; Insurance brokerage; Rental of mining concessions; Holding of investment in shares (mainly in Minera Yanacocha S.R.L.
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