Buenaventura upgraded at J.P. Morgan

|By:, SA News Editor

Compania de Minas Buenaventura (BVN) is upgraded to Overweight rating from Neutral but its 2014 year-end price target is cut to $19 from $22 by J.P. Morgan.

The firm believes BVN has fallen too far after slumping 67% YTD because of a decline in interest from emerging market investors, concern about the future of the Yanacocha mine, and operational problems in BVN's self-managed mines.