Buenaventura Mining (NYSE:BVN) Stock Rating Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Buenaventura Mining (NYSE:BVN) from a hold rating to a buy rating in a research report released on Saturday,Wall Street Zen reports.

Other analysts also recently issued reports about the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Buenaventura Mining in a report on Friday, July 31st. Morgan Stanley cut their price objective on shares of Buenaventura Mining from $42.50 to $34.50 and set an “overweight” rating for the company in a research report on Wednesday, July 8th. Zacks Research cut shares of Buenaventura Mining from a “hold” rating to a “strong sell” rating in a research note on Monday, September 14th. Finally, Scotiabank decreased their target price on Buenaventura Mining from $44.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $37.25.

Buenaventura Mining Price Performance

NYSE BVN opened at $32.45 on Friday. The stock has a 50-day simple moving average of $33.57 and a 200 day simple moving average of $33.22. Buenaventura Mining has a twelve month low of $21.00 and a twelve month high of $44.67. The stock has a market capitalization of $8.23 billion, a PE ratio of 7.34 and a beta of 0.43. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.43 and a current ratio of 2.59.

Buenaventura Mining (NYSE:BVN) last released its earnings results on Thursday, July 30th. The mining company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). The business had revenue of $528.99 million during the quarter, compared to analyst estimates of $610.00 million. Buenaventura Mining had a net margin of 50.88% and a return on equity of 26.53%. Research analysts anticipate that Buenaventura Mining will post 3.99 EPS for the current year.

Hedge Funds Weigh In On Buenaventura Mining

Several hedge funds have recently added to or reduced their stakes in the stock. Centrica Wealth Management LLC bought a new position in Buenaventura Mining during the 2nd quarter worth about $131,547,000. Bank of Nova Scotia lifted its stake in Buenaventura Mining by 83.0% in the 1st quarter. Bank of Nova Scotia now owns 2,520,383 shares of the mining company’s stock valued at $90,835,000 after purchasing an additional 1,143,072 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Buenaventura Mining by 140.8% during the 1st quarter. Jennison Associates LLC now owns 1,267,998 shares of the mining company’s stock worth $45,699,000 after acquiring an additional 741,344 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Buenaventura Mining by 13,674.3% during the 1st quarter. Royal Bank of Canada now owns 720,810 shares of the mining company’s stock worth $25,977,000 after buying an additional 715,577 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Buenaventura Mining by 32.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,301,015 shares of the mining company’s stock worth $82,929,000 after purchasing an additional 558,186 shares during the last quarter.

About Buenaventura Mining

Compañía de Minas Buenaventura SAA., known as Buenaventura Mining, is a Peru-based mining company engaged in the exploration, development, construction, and operation of mineral projects. Its portfolio has historically focused on precious and base metals, including gold, silver, lead, and zinc.

Founded in 1953, Buenaventura operates primarily in Peru and has developed interests in several mining districts throughout the country. Its activities have included underground and open-pit mining, mineral processing, exploration, and project development.