Zacks Investment Research lowered shares of Buenaventura Mining Company Inc. (NYSE:BVN) from a buy rating to a hold rating in a report issued on Thursday, October 26th.
According to Zacks, “COMPAÑÍA DE MINAS BUENAVENTURA is a leading mining company producing precious metals and holding mining rights in Peru. Since its inception in 1953, Buenaventura has focused on exploration and exploitation activities both by its own and through joint ventures. Buenaventura also is an important shareholder of Minera Yanacocha S.R.L., one of the leading gold producers in Latin America. “
Several other equities analysts have also issued reports on BVN. BidaskClub upgraded Buenaventura Mining from a sell rating to a hold rating in a research report on Tuesday, July 11th. Credit Suisse Group restated a hold rating on shares of Buenaventura Mining in a research report on Friday, July 28th. Finally, Morgan Stanley upgraded Buenaventura Mining from an equal weight rating to an overweight rating and boosted their target price for the stock from $13.00 to $17.30 in a research report on Monday, September 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $16.65.
Shares of Buenaventura Mining (NYSE BVN) traded down $0.28 during mid-day trading on Thursday, reaching $13.84. The company had a trading volume of 792,000 shares, compared to its average volume of 1,448,635. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.21 and a quick ratio of 0.95. Buenaventura Mining has a 1 year low of $9.87 and a 1 year high of $14.96.
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Several institutional investors and hedge funds have recently modified their holdings of the stock. Legal & General Group Plc grew its position in shares of Buenaventura Mining by 9.6% in the 3rd quarter. Legal & General Group Plc now owns 954,338 shares of the mining company’s stock valued at $12,206,000 after purchasing an additional 83,464 shares during the period. Majedie Asset Management Ltd lifted its stake in Buenaventura Mining by 48.9% in the 3rd quarter. Majedie Asset Management Ltd now owns 2,024,790 shares of the mining company’s stock valued at $25,897,000 after acquiring an additional 665,390 shares in the last quarter. Icon Advisers Inc. Co. lifted its stake in Buenaventura Mining by 20.6% in the 3rd quarter. Icon Advisers Inc. Co. now owns 831,200 shares of the mining company’s stock valued at $10,631,000 after acquiring an additional 142,000 shares in the last quarter. Macquarie Group Ltd. lifted its stake in Buenaventura Mining by 3.4% in the 3rd quarter. Macquarie Group Ltd. now owns 4,839,583 shares of the mining company’s stock valued at $61,897,000 after acquiring an additional 161,000 shares in the last quarter. Finally, ClariVest Asset Management LLC lifted its stake in Buenaventura Mining by 4.4% in the 3rd quarter. ClariVest Asset Management LLC now owns 197,000 shares of the mining company’s stock valued at $2,519,000 after acquiring an additional 8,300 shares in the last quarter. Institutional investors and hedge funds own 45.04% of the company’s stock.
About Buenaventura Mining
Compania de Minas Buenaventura SAA. (Buenaventura) is a precious metals company. The Company is engaged in the exploration, mining and processing of gold, silver and other metals in Peru. The Company’s segments include Production and sale of minerals; Exploration and development activities; Construction and engineering services; Energy generation and transmission services; Insurance brokerage; Rental of mining concessions; Holding of investment in shares (mainly in Minera Yanacocha S.R.L.
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