J.P. Morgan expects strong Q4 from Buenaventura

Buenaventura (BVN -0.7%), currently trading at base metals levels due partly to Peruvian politics, is a solid buy for long-term investors, J.P. Morgan says as it raises its price target on the shares to $20 from $19.

The firm likes BVN’s nearly 60-year record of reserve replacement and its ongoing commitment to organic reserve growth, and expects a strong Q4; Q3 earnings were dragged down by one-off charges at Yanacocha, but the firm expects the mine to exceed the mid-point guidance expectation of 975koz.

The analysts also believe BVN will be able to complete its major projects by the end of this year and next year’s capex level will drop.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs