Bank of Nova Scotia Sells 1,994,155 Shares of Buenaventura Mining Company Inc. $BVN

Bank of Nova Scotia lowered its position in shares of Buenaventura Mining Company Inc. (NYSE:BVN) by 26.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,476,160 shares of the mining company’s stock after selling 1,994,155 shares during the quarter. Bank of Nova Scotia owned 2.16% of Buenaventura Mining worth $133,235,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of BVN. Raymond James Financial Inc. bought a new stake in shares of Buenaventura Mining during the 2nd quarter valued at $32,000. Headlands Technologies LLC lifted its stake in shares of Buenaventura Mining by 60.9% during the 2nd quarter. Headlands Technologies LLC now owns 3,761 shares of the mining company’s stock valued at $62,000 after buying an additional 1,424 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Buenaventura Mining by 24.9% in 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 period. Savant Capital LLC purchased a new stake in Buenaventura Mining in the 2nd quarter worth $166,000. Finally, Blue Trust Inc. increased its stake in Buenaventura Mining by 18.8% in the 3rd quarter. Blue Trust Inc. now owns 8,111 shares of the mining company’s stock worth $197,000 after buying an additional 1,283 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Scotiabank boosted their price objective on Buenaventura Mining from $42.00 to $44.00 and gave the company a “sector perform” rating in a research report on Monday, March 2nd. Zacks Research raised Buenaventura Mining from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Buenaventura Mining in a research note on Monday, December 29th. Finally, Wall Street Zen raised Buenaventura Mining from a “hold” rating to a “buy” rating in a report on Sunday, March 1st. One 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $44.00.

Buenaventura Mining Stock Performance

NYSE:BVN opened at $35.22 on Friday. The company has a market cap of $8.93 billion, a price-to-earnings ratio of 11.43 and a beta of 0.26. Buenaventura Mining Company Inc. has a 1 year low of $12.56 and a 1 year high of $44.67. The stock’s 50 day simple moving average is $36.91 and its two-hundred day simple moving average is $28.46. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.05.

Buenaventura Mining (NYSE:BVN) last posted its earnings results on Thursday, February 26th. The mining company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $1.03. Buenaventura Mining had a return on equity of 21.09% and a net margin of 45.17%.The firm had revenue of $623.40 million during the quarter, compared to the consensus estimate of $451.60 million. As a group, equities analysts anticipate that Buenaventura Mining Company Inc. will post 1.13 earnings per share for the current fiscal year.

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.