Zacks Research Upgrades Buenaventura Mining (NYSE:BVN) to “Strong-Buy”

Buenaventura Mining (NYSE:BVN) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other equities analysts have also weighed in on BVN. Wall Street Zen raised Buenaventura Mining from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Scotiabank reduced their target price on shares of Buenaventura Mining from $27.50 to $27.00 and set a “sector perform” rating for the company in a report on Wednesday, November 19th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Buenaventura Mining in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Buenaventura Mining presently has a consensus rating of “Buy” and a consensus target price of $27.00.

Buenaventura Mining Price Performance

BVN opened at $36.95 on Thursday. The stock’s 50 day moving average price is $31.31 and its 200-day moving average price is $24.79. Buenaventura Mining has a 52-week low of $12.27 and a 52-week high of $41.28. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.05 and a current ratio of 2.27. The stock has a market capitalization of $9.37 billion, a PE ratio of 21.74 and a beta of 0.31.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings 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 acquiring an additional 391,465 shares in the last quarter. Fox Run Management L.L.C. lifted its holdings in Buenaventura Mining by 174.7% during the 2nd quarter. Fox Run Management L.L.C. now owns 57,223 shares of the mining company’s stock worth $940,000 after buying an additional 36,395 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in Buenaventura Mining by 69.4% during the 2nd quarter. Artisan Partners Limited Partnership now owns 1,217,376 shares of the mining company’s stock worth $19,989,000 after buying an additional 498,585 shares during the last quarter. Icon Advisers Inc. Co. acquired a new position in shares of Buenaventura Mining in the 2nd quarter worth approximately $3,448,000. Finally, Candriam S.C.A. increased its holdings in shares of Buenaventura Mining by 170.0% in the 2nd quarter. Candriam S.C.A. now owns 630,000 shares of the mining company’s stock valued at $10,345,000 after acquiring an additional 396,681 shares during the last quarter.

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.