Buenaventura Mining (NYSE:BVN) Stock Price Down 4.1% – Here’s What Happened

Buenaventura Mining Company Inc. (NYSE:BVN)’s stock price traded down 4.1% on Wednesday. The stock traded as low as $26.03 and last traded at $25.9630. Approximately 246,217 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 1,300,699 shares. The stock had previously closed at $27.08.

Analysts Set New Price Targets

A number of research analysts have issued reports on BVN shares. Zacks Research upgraded shares of Buenaventura Mining from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 13th. Wall Street Zen raised shares of Buenaventura Mining from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. Scotiabank cut their target price on shares of Buenaventura Mining from $44.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Buenaventura Mining in a research report on Thursday, October 29th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.25.

Buenaventura Mining Price Performance

The stock has a market cap of $6.59 billion, a P/E ratio of 5.53 and a beta of 0.40. The firm has a 50-day moving average price of $31.28 and a 200-day moving average price of $33.63. 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, October 29th. The mining company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.10. Buenaventura Mining had a return on equity of 27.60% and a net margin of 51.78%. The company had revenue of $545.33 million during the quarter, compared to analysts’ expectations of $439.69 million. On average, analysts forecast that Buenaventura Mining Company Inc. will post 4.01 earnings per share for the current fiscal year.

Buenaventura Mining Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Wednesday, December 9th. Shareholders of record on Friday, November 20th will be given a dividend of $0.5508 per share. The ex-dividend date of this dividend is Friday, November 20th. Buenaventura Mining’s dividend payout ratio (DPR) is currently 23.09%.

Institutional Trading of Buenaventura Mining

A number of hedge funds have recently modified their holdings of the business. HighTower Advisors LLC bought a new stake in Buenaventura Mining during the third quarter worth about $232,000. Aberdeen Group plc increased its stake in shares of Buenaventura Mining by 3.9% during the third quarter. Aberdeen Group plc now owns 27,076 shares of the mining company’s stock valued at $855,000 after purchasing an additional 1,025 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Buenaventura Mining by 22.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 403,406 shares of the mining company’s stock valued at $12,703,000 after purchasing an additional 73,233 shares during the last quarter. Candriam S.C.A. lifted its holdings in shares of Buenaventura Mining by 40.4% during the third quarter. Candriam S.C.A. now owns 290,400 shares of the mining company’s stock valued at $9,204,000 after purchasing an additional 83,600 shares during the last quarter. Finally, Point Nemo Capital LLC bought a new stake in shares of Buenaventura Mining in the 3rd quarter worth approximately $1,308,000.

Buenaventura Mining Company Profile

Compañía de Minas Buenaventura S.A.A., known as Buenaventura, is a Peru-based mining company engaged in the exploration, development, and operation of mineral properties. Its products include gold, silver, copper, lead, and zinc. The company operates in Peru and participates in mining projects through subsidiaries, joint ventures, and ownership interests. Its portfolio has included both precious- and base-metal operations, as well as interests in larger mining ventures. Founded in 1953, Buenaventura is headquartered in Lima.