Jennison Associates LLC Purchases 741,344 Shares of Buenaventura Mining Company Inc. $BVN

Jennison Associates LLC grew its position in Buenaventura Mining Company Inc. (NYSE:BVN) by 140.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,267,998 shares of the mining company’s stock after purchasing an additional 741,344 shares during the quarter. Jennison Associates LLC’s holdings in Buenaventura Mining were worth $45,699,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Banque Cantonale Vaudoise bought a new stake in shares of Buenaventura Mining during the 1st quarter worth approximately $45,000. Smartleaf Asset Management LLC increased its stake in Buenaventura Mining by 1,725.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,917 shares of the mining company’s stock valued at $55,000 after acquiring an additional 1,812 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Buenaventura Mining during the second quarter valued at approximately $32,000. Rockefeller Capital Management L.P. raised its position in Buenaventura Mining by 199.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,449 shares of the mining company’s stock valued at $96,000 after purchasing an additional 2,298 shares in the last quarter. Finally, Headlands Technologies LLC lifted its stake in Buenaventura Mining by 60.9% during the second quarter. Headlands Technologies LLC now owns 3,761 shares of the mining company’s stock worth $62,000 after purchasing an additional 1,424 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Morgan Stanley decreased their price target on Buenaventura Mining from $42.50 to $34.50 and set an “overweight” rating on the stock in a research note on Wednesday, July 8th. Wall Street Zen raised Buenaventura Mining from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 28th. Weiss Ratings cut Buenaventura Mining from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. Scotiabank lowered their target price on Buenaventura Mining from $44.00 to $40.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Finally, Zacks Research cut shares of Buenaventura Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Buenaventura Mining currently has a consensus rating of “Moderate Buy” and an average target price of $37.25.

Buenaventura Mining Stock Down 0.5%

Shares of NYSE:BVN opened at $30.10 on Tuesday. Buenaventura Mining Company Inc. has a 52-week low of $16.81 and a 52-week high of $44.67. The company has a market capitalization of $7.64 billion, a PE ratio of 7.82 and a beta of 0.42. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.88 and a current ratio of 2.01. The company has a fifty day moving average of $32.35 and a 200-day moving average of $34.44.

Buenaventura Mining (NYSE:BVN) last released its quarterly earnings results on Thursday, April 30th. The mining company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.23. Buenaventura Mining had a return on equity of 24.89% and a net margin of 47.72%.The company had revenue of $624.56 million for the quarter, compared to analysts’ expectations of $666.00 million. On average, equities analysts predict that Buenaventura Mining Company Inc. will post 4.39 EPS for the current fiscal year.

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.