Buenaventura Mining Company Inc. (BVN) Raised to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Buenaventura Mining Company Inc. (NYSE:BVN) from a sell rating to a hold rating in a research note released on Wednesday morning.
According to Zacks, “COMPAÑÍA DE MINAS BUENAVENTURA is a leading mining company producing precious metals and holding mining rights in Peru. Since its inception in 1953, Buenaventura has focused on exploration and exploitation activities both by its own and through joint ventures. Buenaventura also is an important shareholder of Minera Yanacocha S.R.L., one of the leading gold producers in Latin America. “
Several other brokerages also recently weighed in on BVN. Scotiabank raised shares of Buenaventura Mining from an underperform rating to a sector perform rating in a report on Monday, October 30th. BidaskClub upgraded shares of Buenaventura Mining from a hold rating to a buy rating in a research report on Saturday, August 26th. Morgan Stanley upgraded shares of Buenaventura Mining from an equal weight rating to an overweight rating and lifted their price objective for the company from $13.00 to $17.30 in a research report on Monday, September 25th. Finally, Credit Suisse Group reiterated a hold rating on shares of Buenaventura Mining in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $16.65.
Buenaventura Mining (NYSE:BVN) opened at $14.32 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.21 and a quick ratio of 0.95. Buenaventura Mining has a 1-year low of $9.87 and a 1-year high of $14.96.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. increased its position in Buenaventura Mining by 9.1% in the second quarter. Franklin Resources Inc. now owns 11,300,823 shares of the mining company’s stock worth $129,943,000 after purchasing an additional 943,730 shares during the last quarter. FMR LLC increased its position in Buenaventura Mining by 74.5% in the second quarter. FMR LLC now owns 8,204,360 shares of the mining company’s stock worth $94,351,000 after purchasing an additional 3,502,137 shares during the last quarter. Vanguard Group Inc. increased its position in Buenaventura Mining by 4.1% in the second quarter. Vanguard Group Inc. now owns 6,246,199 shares of the mining company’s stock worth $71,832,000 after purchasing an additional 245,096 shares during the last quarter. Macquarie Group Ltd. increased its position in Buenaventura Mining by 3.4% in the third quarter. Macquarie Group Ltd. now owns 4,839,583 shares of the mining company’s stock worth $61,897,000 after purchasing an additional 161,000 shares during the last quarter. Finally, Oldfield Partners LLP increased its position in Buenaventura Mining by 2.5% in the third quarter. Oldfield Partners LLP now owns 4,501,445 shares of the mining company’s stock worth $57,574,000 after purchasing an additional 109,000 shares during the last quarter. Institutional investors own 44.95% of the company’s stock.
Buenaventura Mining Company Profile
Compania de Minas Buenaventura SAA. (Buenaventura) is a precious metals company. The Company is engaged in the exploration, mining and processing of gold, silver and other metals in Peru. The Company’s segments include Production and sale of minerals; Exploration and development activities; Construction and engineering services; Energy generation and transmission services; Insurance brokerage; Rental of mining concessions; Holding of investment in shares (mainly in Minera Yanacocha S.R.L.
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