Wall Street Zen Downgrades Buenaventura Mining (NYSE:BVN) to Hold

Buenaventura Mining (NYSE:BVN) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.

Several other equities analysts have also recently issued reports on BVN. Morgan Stanley decreased their price target 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. Weiss Ratings reiterated a “buy (b-)” rating on shares of Buenaventura Mining in a report on Friday, July 31st. Finally, Scotiabank reduced their price objective 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. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Buenaventura Mining has an average rating of “Moderate Buy” and an average target price of $37.25.

Buenaventura Mining Stock Performance

NYSE:BVN opened at $33.94 on Friday. The stock has a market cap of $8.61 billion, a P/E ratio of 7.68 and a beta of 0.43. The company has a current ratio of 2.01, a quick ratio of 1.88 and a debt-to-equity ratio of 0.16. The stock’s 50-day moving average is $31.52 and its 200-day moving average is $34.27. Buenaventura Mining has a 1-year low of $18.03 and a 1-year high of $44.67.

Buenaventura Mining (NYSE:BVN) last issued its quarterly earnings data 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). Buenaventura Mining had a net margin of 50.88% and a return on equity of 27.72%. The business had revenue of $528.99 million during the quarter, compared to the consensus estimate of $610.00 million. Equities research analysts anticipate that Buenaventura Mining will post 4.37 earnings per share for the current year.

Institutional Investors Weigh In On Buenaventura Mining

Several large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio bought a new stake in Buenaventura Mining in the second quarter worth approximately $2,568,000. Ninepoint Partners LP bought a new position in shares of Buenaventura Mining during the 2nd quarter worth approximately $3,675,000. Oldfield Partners LLP boosted its holdings in shares of Buenaventura Mining by 6.4% during the 2nd quarter. Oldfield Partners LLP now owns 44,816 shares of the mining company’s stock worth $1,313,000 after buying an additional 2,678 shares in the last quarter. E. Ohman J or Asset Management AB grew its position in shares of Buenaventura Mining by 22.5% during the 2nd quarter. E. Ohman J or Asset Management AB now owns 12,500 shares of the mining company’s stock worth $366,000 after buying an additional 2,300 shares during the period. Finally, Liontrust Investment Partners LLP grew its position in shares of Buenaventura Mining by 8.3% during the 1st quarter. Liontrust Investment Partners LLP now owns 13,000 shares of the mining company’s stock worth $469,000 after buying an additional 1,000 shares during the period.

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.