Buenaventura Mining (NYSE:BVN) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Buenaventura Mining Company Inc. (NYSE:BVN)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $22.91 and traded as high as $35.01. Buenaventura Mining shares last traded at $34.7870, with a volume of 912,367 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BVN. Wall Street Zen raised Buenaventura Mining from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Zacks Research downgraded shares of Buenaventura Mining from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 7th. Weiss Ratings restated a “buy (b)” rating on shares of Buenaventura Mining in a research note on Monday, December 29th. Finally, Scotiabank dropped their target price on shares of 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. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Buenaventura Mining presently has a consensus rating of “Hold” and a consensus target price of $27.00.

Buenaventura Mining Stock Up 8.4%

The company’s 50 day simple moving average is $27.88 and its 200-day simple moving average is $23.06. The company has a current ratio of 2.27, a quick ratio of 2.05 and a debt-to-equity ratio of 0.18. The firm has a market cap of $9.53 billion, a P/E ratio of 22.11 and a beta of 0.35.

Buenaventura Mining (NYSE:BVN) last released its quarterly earnings data on Friday, October 31st. The mining company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.25. Buenaventura Mining had a net margin of 30.70% and a return on equity of 11.76%. The firm had revenue of $431.04 million during the quarter, compared to analysts’ expectations of $355.57 million. Research analysts forecast that Buenaventura Mining Company Inc. will post 1.13 earnings per share for the current fiscal year.

Buenaventura Mining Announces Dividend

The company also recently declared a special dividend, which was paid on Tuesday, December 9th. Stockholders of record on Wednesday, November 19th were issued a dividend of $0.1446 per share. The ex-dividend date of this dividend was Wednesday, November 19th. Buenaventura Mining’s dividend payout ratio is presently 24.71%.

Institutional Trading of Buenaventura Mining

A number of hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Buenaventura Mining by 38.5% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,196,976 shares of the mining company’s stock worth $175,102,000 after purchasing an additional 1,999,475 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Buenaventura Mining by 10.5% in the 3rd quarter. Tidal Investments LLC now owns 3,158,341 shares of the mining company’s stock worth $76,842,000 after purchasing an additional 299,822 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Buenaventura Mining by 20.6% in the second quarter. JPMorgan Chase & Co. now owns 2,291,838 shares of the mining company’s stock worth $37,632,000 after buying an additional 391,465 shares during the last quarter. American Century Companies Inc. grew its position in Buenaventura Mining by 146.5% during the third quarter. American Century Companies Inc. now owns 1,737,984 shares of the mining company’s stock valued at $42,285,000 after buying an additional 1,033,045 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Buenaventura Mining by 2.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,278,411 shares of the mining company’s stock valued at $19,982,000 after buying an additional 25,440 shares during 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.