Buenaventura Mining (NYSE:BVN) Shares Gap Up – Time to Buy?

Buenaventura Mining Company Inc. (NYSE:BVN) gapped up before the market opened on Tuesday . The stock had previously closed at $34.06, but opened at $36.47. Buenaventura Mining shares last traded at $36.72, with a volume of 131,264 shares.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BVN shares. Wall Street Zen raised Buenaventura Mining from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Scotiabank cut their price target on Buenaventura Mining from $27.50 to $27.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 19th. Weiss Ratings restated a “buy (b)” rating on shares of Buenaventura Mining in a report on Monday, December 29th. Finally, Zacks Research lowered shares of Buenaventura Mining from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 7th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Buenaventura Mining currently has a consensus rating of “Hold” and a consensus target price of $27.00.

Buenaventura Mining Stock Performance

The firm has a fifty day moving average of $30.35 and a 200-day moving average of $24.36. The company has a quick ratio of 2.05, a current ratio of 2.27 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $9.10 billion, a price-to-earnings ratio of 21.22 and a beta of 0.35.

Hedge Funds Weigh In On Buenaventura Mining

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd purchased a new position in shares of Buenaventura Mining during the 2nd quarter worth approximately $28,000. Raymond James Financial Inc. acquired a new stake in Buenaventura Mining during the 2nd quarter valued at $32,000. Headlands Technologies LLC increased its position in Buenaventura Mining by 60.9% during the second quarter. Headlands Technologies LLC now owns 3,761 shares of the mining company’s stock worth $62,000 after buying an additional 1,424 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Buenaventura Mining by 463.4% in the fourth quarter. Assetmark Inc. now owns 3,983 shares of the mining company’s stock worth $111,000 after acquiring an additional 3,276 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Buenaventura Mining by 24.9% in the second quarter. PNC Financial Services Group Inc. now owns 8,210 shares of the mining company’s stock valued at $135,000 after acquiring an additional 1,637 shares in 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.