Buenaventura Mining (NYSE:BVN) Trading 5.8% Higher – Time to Buy?

Buenaventura Mining Company Inc. (NYSE:BVN)’s stock price shot up 5.8% on Friday . The company traded as high as $34.20 and last traded at $34.3280. 229,924 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,724,898 shares. The stock had previously closed at $32.46.

Analyst Upgrades and Downgrades

BVN has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Buenaventura Mining in a research report on Monday, December 29th. Zacks Research upgraded shares of Buenaventura Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. Scotiabank raised their target price on shares of Buenaventura Mining from $42.00 to $44.00 and gave the company a “sector perform” rating in a research note on Monday, March 2nd. Finally, Wall Street Zen raised shares of Buenaventura Mining from a “buy” rating to a “strong-buy” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $44.00.

Buenaventura Mining Stock Up 2.9%

The company has a debt-to-equity ratio of 0.16, a current ratio of 2.01 and a quick ratio of 2.05. The business’s fifty day moving average price is $37.01 and its two-hundred day moving average price is $29.42. The stock has a market capitalization of $8.47 billion, a PE ratio of 10.84 and a beta of 0.26.

Buenaventura Mining (NYSE:BVN) last issued its earnings results on Friday, February 27th. The mining company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $1.03. Buenaventura Mining had a return on equity of 20.39% and a net margin of 45.17%.The company had revenue of $623.40 million during the quarter, compared to analyst estimates of $451.60 million. On average, equities research analysts forecast that Buenaventura Mining Company Inc. will post 1.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its position in Buenaventura Mining by 27.8% in the first quarter. Goldman Sachs Group Inc. now owns 427,509 shares of the mining company’s stock valued at $6,682,000 after buying an additional 93,021 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Buenaventura Mining by 2.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,278,411 shares of the mining company’s stock worth $19,982,000 after buying an additional 25,440 shares during the period. PNC Financial Services Group Inc. raised its position in Buenaventura Mining by 24.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,210 shares of the mining company’s stock worth $135,000 after buying an additional 1,637 shares during the last quarter. JPMorgan Chase & Co. raised its position in Buenaventura Mining by 20.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,291,838 shares of the mining company’s stock worth $37,632,000 after buying an additional 391,465 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Buenaventura Mining by 27.5% during the 2nd quarter. American Century Companies Inc. now owns 704,939 shares of the mining company’s stock valued at $11,575,000 after acquiring an additional 151,918 shares during the period.

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.