Buenaventura Mining (NYSE:BVN) Price Target Cut to $34.50 by Analysts at Morgan Stanley

Buenaventura Mining (NYSE:BVN) had its price target reduced by analysts at Morgan Stanley from $42.50 to $34.50 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the mining company’s stock. Morgan Stanley’s price objective suggests a potential upside of 19.52% from the company’s previous close.

BVN has been the topic of a number of other research reports. Wall Street Zen raised Buenaventura Mining from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 28th. Weiss Ratings lowered Buenaventura Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Finally, Zacks Research cut Buenaventura Mining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Buenaventura Mining presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.25.

Buenaventura Mining Stock Down 3.7%

BVN opened at $28.87 on Wednesday. Buenaventura Mining has a 12 month low of $16.06 and a 12 month high of $44.67. The company has a market cap of $7.32 billion, a PE ratio of 7.50 and a beta of 0.42. The company has a current ratio of 2.01, a quick ratio of 1.88 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average of $32.93 and a 200 day moving average of $34.37.

Buenaventura Mining (NYSE:BVN) last posted its earnings results on Thursday, April 30th. The mining company reported $1.32 earnings per share (EPS) 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 firm had revenue of $624.56 million for the quarter, compared to the consensus estimate of $666.00 million. On average, sell-side analysts expect that Buenaventura Mining will post 4.31 EPS for the current year.

Institutional Trading of Buenaventura Mining

Institutional investors and hedge funds have recently modified their holdings of the business. FIL Ltd grew its stake in Buenaventura Mining by 8.8% in the 4th quarter. FIL Ltd now owns 13,473,909 shares of the mining company’s stock worth $374,979,000 after buying an additional 1,085,443 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Buenaventura Mining by 38.5% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,196,976 shares of the mining company’s stock worth $175,102,000 after purchasing an additional 1,999,475 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Buenaventura Mining by 3,096,894.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,884,290 shares of the mining company’s stock valued at $163,760,000 after purchasing an additional 5,884,100 shares during the last quarter. State Street Corp increased its position in shares of Buenaventura Mining by 1.2% during the 4th quarter. State Street Corp now owns 3,586,205 shares of the mining company’s stock valued at $99,804,000 after purchasing an additional 44,033 shares during the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of Buenaventura Mining by 10.5% during the 3rd quarter. Tidal Investments LLC now owns 3,158,341 shares of the mining company’s stock valued at $76,842,000 after buying an additional 299,822 shares in the last quarter.

About Buenaventura Mining

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.