Buenaventura Mining (NYSE:BVN) Sets New 1-Year High Following Strong Earnings

Shares of Buenaventura Mining Company Inc. (NYSE:BVN) reached a new 52-week high during mid-day trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $42.00 and last traded at $43.0220, with a volume of 9810 shares. The stock had previously closed at $41.13.

The mining company reported $1.62 EPS for the quarter, topping the consensus estimate of $0.59 by $1.03. The firm had revenue of $623.40 million during the quarter, compared to the consensus estimate of $451.60 million. Buenaventura Mining had a return on equity of 11.76% and a net margin of 30.70%.

Wall Street Analysts Forecast Growth

Several analysts have commented on BVN shares. Scotiabank lowered their price objective on shares of Buenaventura Mining from $27.50 to $27.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Buenaventura Mining in a research report on Monday, December 29th. Zacks Research raised Buenaventura Mining from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Finally, Wall Street Zen upgraded Buenaventura Mining from a “hold” rating to a “buy” rating in a research note on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $27.00.

Institutional Trading of Buenaventura Mining

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Corient Private Wealth LLC boosted its holdings in shares of Buenaventura Mining by 2.7% in the 4th quarter. Corient Private Wealth LLC now owns 17,857 shares of the mining company’s stock worth $497,000 after purchasing an additional 470 shares in the last quarter. Ieq Capital LLC grew its position in Buenaventura Mining by 6.6% during the 4th quarter. Ieq Capital LLC now owns 10,869 shares of the mining company’s stock worth $302,000 after acquiring an additional 674 shares during the last quarter. Savant Capital LLC increased its stake in Buenaventura Mining by 6.0% in the 4th quarter. Savant Capital LLC now owns 12,585 shares of the mining company’s stock worth $350,000 after purchasing an additional 712 shares during the period. Personal CFO Solutions LLC increased its stake in Buenaventura Mining by 5.6% in the 4th quarter. Personal CFO Solutions LLC now owns 13,443 shares of the mining company’s stock worth $374,000 after purchasing an additional 717 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its position in Buenaventura Mining by 10.2% in the third quarter. Public Employees Retirement System of Ohio now owns 8,615 shares of the mining company’s stock valued at $210,000 after purchasing an additional 800 shares during the last quarter.

Buenaventura Mining Stock Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.05. The stock has a market cap of $11.03 billion, a PE ratio of 14.12 and a beta of 0.31. The business has a 50 day moving average price of $35.03 and a two-hundred day moving average price of $27.08.

Buenaventura Mining Company Profile

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.