Buenaventura Mining Company Inc. (NYSE:BVN) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday.

According to Zacks, “COMPAÑÍA DE MINAS BUENAVENTURA is a leading mining company producing precious metals and holding mining rights in Peru. Since its inception in 1953, Buenaventura has focused on exploration and exploitation activities both by its own and through joint ventures. Buenaventura also is an important shareholder of Minera Yanacocha S.R.L., one of the leading gold producers in Latin America. “

A number of other research firms have also commented on BVN. Scotiabank raised shares of Buenaventura Mining from an “underperform” rating to a “sector perform” rating in a research note on Monday. BidaskClub raised shares of Buenaventura Mining from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Morgan Stanley raised shares of Buenaventura Mining from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $13.00 to $17.30 in a research note on Monday, September 25th. Finally, Credit Suisse Group reaffirmed a “hold” rating on shares of Buenaventura Mining in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $16.13.

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Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Buenaventura Mining by 1,334.1% in the first quarter. BlackRock Inc. now owns 15,283,839 shares of the mining company’s stock worth $184,018,000 after acquiring an additional 14,218,103 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Buenaventura Mining by 9.1% in the second quarter. Franklin Resources Inc. now owns 11,300,823 shares of the mining company’s stock worth $129,943,000 after acquiring an additional 943,730 shares during the last quarter. FMR LLC grew its stake in shares of Buenaventura Mining by 74.5% in the second quarter. FMR LLC now owns 8,204,360 shares of the mining company’s stock worth $94,351,000 after acquiring an additional 3,502,137 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Buenaventura Mining by 4.1% in the second quarter. Vanguard Group Inc. now owns 6,246,199 shares of the mining company’s stock worth $71,832,000 after acquiring an additional 245,096 shares during the last quarter. Finally, Macquarie Group Ltd. grew its stake in shares of Buenaventura Mining by 39.6% in the second quarter. Macquarie Group Ltd. now owns 4,678,583 shares of the mining company’s stock worth $53,806,000 after acquiring an additional 1,326,244 shares during the last quarter. Institutional investors and hedge funds own 45.10% of the company’s stock.

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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