Buenaventura Mining (NYSE:BVN) Shares Up 5.8% – Here’s What Happened

Buenaventura Mining Company Inc. (NYSE:BVN) shot up 5.8% during mid-day trading on Friday . The company traded as high as $34.20 and last traded at $34.3280. 229,924 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,724,898 shares. The stock had previously closed at $32.46.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Zacks Research raised shares of Buenaventura Mining from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Buenaventura Mining in a research note on Monday, December 29th. Wall Street Zen raised Buenaventura Mining from a “hold” rating to a “buy” rating in a research report on Sunday, March 1st. Finally, Scotiabank lifted their price objective on Buenaventura Mining from $42.00 to $44.00 and gave the company a “sector perform” rating in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $44.00.

Buenaventura Mining Price Performance

The firm has a market cap of $8.50 billion, a P/E ratio of 10.86 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.01 and a quick ratio of 2.05. The company’s 50-day moving average is $37.04 and its two-hundred day moving average is $29.26.

Buenaventura Mining (NYSE:BVN) last issued its earnings results on Friday, February 27th. The mining company reported $1.62 EPS for the quarter, beating the consensus estimate of $0.59 by $1.03. Buenaventura Mining had a net margin of 45.17% and a return on equity of 20.39%. The company had revenue of $623.40 million during the quarter, compared to analysts’ expectations of $451.60 million. Sell-side analysts anticipate that Buenaventura Mining Company Inc. will post 1.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BVN. JPMorgan Chase & Co. lifted its stake in Buenaventura Mining by 20.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,291,838 shares of the mining company’s stock valued at $37,632,000 after purchasing an additional 391,465 shares during the last quarter. Sprott Inc. bought a new stake in shares of Buenaventura Mining during the third quarter worth $25,647,000. William Blair Investment Management LLC bought a new stake in shares of Buenaventura Mining during the third quarter worth $8,509,000. APG Asset Management N.V. increased its holdings in shares of Buenaventura Mining by 125.6% during the third quarter. APG Asset Management N.V. now owns 91,787 shares of the mining company’s stock worth $2,233,000 after buying an additional 51,100 shares in the last quarter. Finally, Compound Planning Inc. acquired a new position in shares of Buenaventura Mining during the third quarter worth $813,000.

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.