Buenaventura Mining (NYSE:BVN) Downgraded to “Hold” Rating by Zacks Research

Buenaventura Mining (NYSE:BVN) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Buenaventura Mining in a report on Monday, December 29th. Scotiabank lifted their price target on Buenaventura Mining from $42.00 to $44.00 and gave the stock a “sector perform” rating in a report on Monday, March 2nd. Finally, Wall Street Zen upgraded Buenaventura Mining from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 28th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $44.00.

Buenaventura Mining Price Performance

Shares of BVN opened at $37.14 on Tuesday. The company has a market cap of $9.42 billion, a price-to-earnings ratio of 12.06 and a beta of 0.40. Buenaventura Mining has a 1-year low of $12.56 and a 1-year high of $44.67. The company’s fifty day simple moving average is $36.97 and its 200 day simple moving average is $29.75. The company has a current ratio of 2.01, a quick ratio of 1.88 and a debt-to-equity ratio of 0.16.

Buenaventura Mining (NYSE:BVN) last announced its quarterly earnings results on Friday, February 27th. The mining company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $1.03. Buenaventura Mining had a net margin of 45.17% and a return on equity of 20.39%. The firm had revenue of $623.40 million during the quarter, compared to analysts’ expectations of $451.60 million. On average, research analysts forecast that Buenaventura Mining will post 1.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Buenaventura Mining

Several large investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted its stake in shares of Buenaventura Mining by 1,725.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,917 shares of the mining company’s stock worth $55,000 after buying an additional 1,812 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Buenaventura Mining in the 2nd quarter valued at about $32,000. Rockefeller Capital Management L.P. raised its holdings in Buenaventura Mining by 199.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,449 shares of the mining company’s stock valued at $96,000 after acquiring an additional 2,298 shares during the period. Headlands Technologies LLC raised its holdings in Buenaventura Mining by 60.9% in the 2nd quarter. Headlands Technologies LLC now owns 3,761 shares of the mining company’s stock valued at $62,000 after acquiring an additional 1,424 shares during the period. Finally, Assetmark Inc. lifted its position in Buenaventura Mining by 463.4% during 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.

Buenaventura Mining Company Profile

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.