Scotiabank Issues Positive Forecast for Buenaventura Mining (NYSE:BVN) Stock Price

Buenaventura Mining (NYSE:BVN) had its price target increased by Scotiabank from $27.00 to $27.50 in a report issued on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the mining company’s stock. Scotiabank’s target price would indicate a potential upside of 22.79% from the stock’s current price.

BVN has been the subject of a number of other reports. Zacks Research raised Buenaventura Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Buenaventura Mining in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Buenaventura Mining from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Buenaventura Mining presently has a consensus rating of “Buy” and an average target price of $27.50.

Buenaventura Mining Trading Up 3.2%

Shares of BVN stock traded up $0.70 during trading hours on Friday, reaching $22.40. 592,015 shares of the stock were exchanged, compared to its average volume of 1,107,993. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 11.37 and a beta of 0.26. Buenaventura Mining has a 12-month low of $11.50 and a 12-month high of $26.97. The company’s 50-day moving average price is $22.45 and its 200-day moving average price is $18.49. The company has a current ratio of 2.54, a quick ratio of 2.31 and a debt-to-equity ratio of 0.23.

Buenaventura Mining (NYSE:BVN) last posted its quarterly earnings data on Thursday, October 30th. The mining company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.25. Buenaventura Mining had a net margin of 38.38% and a return on equity of 9.47%. The company had revenue of $431.00 million for the quarter, compared to analyst estimates of $355.57 million. As a group, equities analysts anticipate that Buenaventura Mining will post 1.13 earnings per share for the current year.

Institutional Trading of Buenaventura Mining

Institutional investors and hedge funds have recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ grew its holdings in Buenaventura Mining by 4.4% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 75,300 shares of the mining company’s stock worth $1,832,000 after acquiring an additional 3,200 shares in the last quarter. Shell Asset Management Co. raised its holdings in shares of Buenaventura Mining by 45.3% in the 3rd quarter. Shell Asset Management Co. now owns 14,508 shares of the mining company’s stock valued at $353,000 after purchasing an additional 4,521 shares in the last quarter. Aberdeen Group plc increased its holdings in Buenaventura Mining by 24.2% during the third quarter. Aberdeen Group plc now owns 23,494 shares of the mining company’s stock valued at $572,000 after buying an additional 4,582 shares during the period. Public Sector Pension Investment Board lifted its holdings in Buenaventura Mining by 22.9% during the third quarter. Public Sector Pension Investment Board now owns 171,753 shares of the mining company’s stock worth $4,179,000 after buying an additional 32,000 shares during the period. Finally, Caprock Group LLC purchased a new position in shares of Buenaventura Mining in the 3rd quarter valued at $694,000.

About Buenaventura Mining

Compañía de Minas Buenaventura SAA. engages in the exploration, development, construction, and operation of mineral processing business. The company explores for gold, silver, lead, zinc, and copper metals. It operates operating mining units, including Tambomayo located in the Caylloma province, Orcopampa Unit located in the province of Castilla, Uchucchacua located in province of Oyón, Julcani located in province of Angaraes, Peru, as well as San Gabrie located in the province of General Sánchez Cerro, in the Moquegua region.