Compania de Minas Buenaventura SAA (NYSE:BVN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, January 17th. The firm presently has a $17.00 price target on the mining company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.81% from the stock’s previous close.
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. “
A number of other research analysts have also issued reports on BVN. Scotiabank upgraded shares of Compania de Minas Buenaventura SAA from an “underperform” rating to a “sector perform” rating in a research note on Monday, October 30th. Morgan Stanley raised shares of Compania de Minas Buenaventura SAA from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $13.00 to $17.30 in a report on Monday, September 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Compania de Minas Buenaventura SAA has a consensus rating of “Hold” and an average price target of $16.65.
Shares of Compania de Minas Buenaventura SAA (BVN) traded up $0.64 during trading on Wednesday, reaching $15.07. 1,946,279 shares of the company’s stock were exchanged, compared to its average volume of 1,508,530. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.21 and a quick ratio of 0.95. Compania de Minas Buenaventura SAA has a twelve month low of $10.87 and a twelve month high of $16.26. The firm has a market cap of $3,665.03, a price-to-earnings ratio of -10.84 and a beta of 1.16.
A number of hedge funds and other institutional investors have recently made changes to their positions in BVN. US Bancorp DE lifted its holdings in Compania de Minas Buenaventura SAA by 207.0% during the fourth quarter. US Bancorp DE now owns 7,426 shares of the mining company’s stock valued at $105,000 after purchasing an additional 5,007 shares in the last quarter. Empirical Finance LLC purchased a new position in Compania de Minas Buenaventura SAA during the third quarter valued at $140,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Compania de Minas Buenaventura SAA by 23.2% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 20,697 shares of the mining company’s stock valued at $265,000 after purchasing an additional 3,897 shares in the last quarter. Voya Investment Management LLC lifted its holdings in Compania de Minas Buenaventura SAA by 18.7% during the second quarter. Voya Investment Management LLC now owns 27,338 shares of the mining company’s stock valued at $314,000 after purchasing an additional 4,303 shares in the last quarter. Finally, Stevens Capital Management LP acquired a new stake in shares of Compania de Minas Buenaventura SAA in the third quarter valued at about $372,000. 44.43% of the stock is currently owned by hedge funds and other institutional investors.
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About Compania de Minas Buenaventura SAA
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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