Allspring Global Investments Holdings LLC Makes New Investment in Buenaventura Mining Company Inc. $BVN

Allspring Global Investments Holdings LLC purchased a new position in shares of Buenaventura Mining Company Inc. (NYSE:BVN) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 347,054 shares of the mining company’s stock, valued at approximately $12,903,000.

Other hedge funds have also made changes to their positions in the company. Banque Cantonale Vaudoise bought a new position in Buenaventura Mining during the first quarter worth $45,000. Smartleaf Asset Management LLC boosted its holdings in Buenaventura Mining by 1,725.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,917 shares of the mining company’s stock valued at $55,000 after purchasing an additional 1,812 shares during the period. Raymond James Financial Inc. bought a new stake in Buenaventura Mining in the 2nd quarter valued at $32,000. Rockefeller Capital Management L.P. grew its position in Buenaventura Mining by 199.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,449 shares of the mining company’s stock worth $96,000 after purchasing an additional 2,298 shares during the last quarter. Finally, Headlands Technologies LLC grew its position in Buenaventura Mining by 60.9% in the 2nd quarter. Headlands Technologies LLC now owns 3,761 shares of the mining company’s stock worth $62,000 after purchasing an additional 1,424 shares during the last quarter.

Analyst Upgrades and Downgrades

BVN has been the topic of several research reports. Morgan Stanley lowered their price target on Buenaventura Mining from $42.50 to $34.50 and set an “overweight” rating on the stock in a research note on Wednesday, July 8th. Zacks Research downgraded Buenaventura Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Scotiabank decreased their price objective on Buenaventura Mining from $44.00 to $40.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. Wall Street Zen upgraded Buenaventura Mining from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 28th. Finally, Weiss Ratings lowered Buenaventura Mining from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Buenaventura Mining currently has an average rating of “Moderate Buy” and a consensus price target of $37.25.

Buenaventura Mining Stock Up 4.0%

BVN opened at $31.25 on Wednesday. The firm’s 50-day simple moving average is $32.21 and its 200-day simple moving average is $34.46. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.88 and a current ratio of 2.01. Buenaventura Mining Company Inc. has a twelve month low of $16.90 and a twelve month high of $44.67. The firm has a market cap of $7.93 billion, a price-to-earnings ratio of 8.12 and a beta of 0.42.

Buenaventura Mining (NYSE:BVN) last announced its earnings results on Thursday, April 30th. The mining company reported $1.32 earnings per share (EPS) for the quarter, topping 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 business had revenue of $624.56 million during the quarter, compared to analysts’ expectations of $666.00 million. Equities research analysts anticipate that Buenaventura Mining Company Inc. will post 4.39 EPS for the current fiscal year.

Buenaventura Mining 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.