Buenaventura Mining (NYSE:BVN) Price Target Lowered to $34.50 at Morgan Stanley

Buenaventura Mining (NYSE:BVN) had its price objective trimmed by Morgan Stanley from $42.50 to $34.50 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the mining company’s stock.

Several other research firms have also commented on BVN. Zacks Research lowered shares of Buenaventura Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Weiss Ratings lowered shares of Buenaventura Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. Finally, Wall Street Zen raised Buenaventura Mining from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 28th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Buenaventura Mining has an average rating of “Moderate Buy” and a consensus price target of $39.25.

Buenaventura Mining Price Performance

NYSE:BVN opened at $28.29 on Wednesday. The company has a quick ratio of 1.88, a current ratio of 2.01 and a debt-to-equity ratio of 0.16. The business’s 50-day moving average price is $32.84 and its 200 day moving average price is $34.37. Buenaventura Mining has a 52-week low of $16.06 and a 52-week high of $44.67. The firm has a market cap of $7.18 billion, a P/E ratio of 7.35 and a beta of 0.42.

Buenaventura Mining (NYSE:BVN) last issued its quarterly earnings results on Thursday, April 30th. The mining company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.23. Buenaventura Mining had a net margin of 47.72% and a return on equity of 24.89%. The company had revenue of $624.56 million during the quarter, compared to the consensus estimate of $666.00 million. As a group, sell-side analysts predict that Buenaventura Mining will post 4.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Buenaventura Mining

Several institutional investors and hedge funds have recently bought and sold shares of the business. Corient Private Wealth LLC boosted its holdings in shares of Buenaventura Mining by 2.7% during the fourth 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 during the period. PNC Financial Services Group Inc. increased its stake in Buenaventura Mining by 4.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 12,949 shares of the mining company’s stock valued at $467,000 after buying an additional 504 shares during the period. SmartHarvest Portfolios LLC increased its stake in Buenaventura Mining by 5.6% in the 1st quarter. SmartHarvest Portfolios LLC now owns 9,898 shares of the mining company’s stock valued at $357,000 after buying an additional 529 shares during the period. Personal CFO Solutions LLC lifted its position in Buenaventura Mining by 4.2% in the 1st quarter. Personal CFO Solutions LLC now owns 14,006 shares of the mining company’s stock worth $505,000 after buying an additional 563 shares in the last quarter. Finally, PKO Investment Management Joint Stock Co lifted its position in Buenaventura Mining by 0.7% in the 1st quarter. PKO Investment Management Joint Stock Co now owns 88,544 shares of the mining company’s stock worth $3,191,000 after buying an additional 602 shares in the last quarter.

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.