Icon Advisers Inc. Co. Lowers Position in Buenaventura Mining Company Inc. $BVN

Icon Advisers Inc. Co. cut its stake in shares of Buenaventura Mining Company Inc. (NYSE:BVN) by 71.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,000 shares of the mining company’s stock after selling 59,000 shares during the period. Icon Advisers Inc. Co.’s holdings in Buenaventura Mining were worth $865,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BVN. First Trust Advisors LP grew its stake in shares of Buenaventura Mining by 62.6% in the 1st quarter. First Trust Advisors LP now owns 43,391 shares of the mining company’s stock worth $1,564,000 after acquiring an additional 16,708 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Buenaventura Mining by 4.0% in the first quarter. PNC Financial Services Group Inc. now owns 12,949 shares of the mining company’s stock valued at $467,000 after purchasing an additional 504 shares during the last quarter. SEB Asset Management AB bought a new position in shares of Buenaventura Mining during the first quarter valued at about $2,740,000. Jennison Associates LLC boosted its holdings in Buenaventura Mining by 140.8% during the first quarter. Jennison Associates LLC now owns 1,267,998 shares of the mining company’s stock worth $45,699,000 after purchasing an additional 741,344 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in Buenaventura Mining by 175.1% during the first quarter. Assetmark Inc. now owns 10,959 shares of the mining company’s stock worth $395,000 after purchasing an additional 6,976 shares during the last quarter.

Analysts Set New Price Targets

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

Buenaventura Mining Stock Up 2.7%

Buenaventura Mining stock opened at $32.09 on Thursday. The firm has a 50 day simple moving average of $32.09 and a 200 day simple moving average of $34.49. 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 Company Inc. has a 1-year low of $16.90 and a 1-year high of $44.67. The firm has a market capitalization of $8.14 billion, a price-to-earnings ratio of 8.34 and a beta of 0.42.

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