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Compañía de Minas Buenaventura S.A.A. (BVN)

- NYSE
  • Fri, Feb. 27, 3:49 PM
    • Buenaventura (BVN +6.5%) is surging after reporting Q4 adjusted EBITDA of $167M and saying strong gold production at its Yanacocha mine helped results reach the high end of its production guidance.
    • The Peruvian gold miner says it produced 245K gold oz. and 5.5M silver oz. during Q4, vs. 184K gold oz. and 4.8M silver oz. in the year-ago quarter; but full-year output was mixed, with gold production of 846K oz. coming in below the prior year's 895K oz., and silver up at 19.7M oz. vs. 18.9M oz. in 2013.
    • Q4 net sales of $254M were 12% lower than the prior year's $287M, as the average realized prices for gold, silver and copper fell a respective 6%, 24% and 8% Y/Y; Q4 sales volumes rose 33%, 28% and 25% for gold, silver and copper.
    | 1 Comment
  • Fri, Feb. 27, 6:05 AM
    • Compañía de Minas Buenaventura (NYSE:BVN): Q4 EPS of -$0.74 may not be comparable to consensus of $0.15.
    • Revenue of $265.6M (-9.7% Y/Y) misses by $113.65M.
    • Press Release
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  • Nov. 14, 2014, 5:38 PM
    • Top gainers, as of 5:15 p.m.: CLDX +9.3%. TSRO +5.2%. SSE +3.3%. DDD +1.9%. CIG +1.7%.
    • Top losers, as of 5:15 p.m.: ABGB -4.3%. HK -2.3%. BVN -2.2%. NTES -1.9%. SCMP -1.9%.
    | 1 Comment
  • Nov. 7, 2014, 4:39 PM
    • Newmont Mining (NYSE:NEM) likely will secure key community support for its $5B Minas Conga gold project in Peru, as the company and its partner Buenaventura (NYSE:BVN) are winning over communities that opposed the project, the country’s environment minister says.
    • Local communities have opposed the project on concerns over water availability at the site, but the minister now believes an understanding can be reached.
    • NEM and BVN stopped work after violent protests staged by local villagers that began in 2011.
    | 2 Comments
  • Oct. 31, 2014, 9:14 AM
    • Compañía de Minas Buenaventura (NYSE:BVN): Q3 EPS of $0.31 beats by $0.14.
    • Revenue of $317.6M (-8.2% Y/Y) misses by $65.4M.
    • Press Release
    | Comment!
  • Oct. 13, 2014, 10:22 AM
    • Newmont Mining's (NEM +1.5%) Peruvian unit says it will keep pushing for local support for its stalled Conga gold mine after a jailed opponent of the project was easily re-elected to lead the Cajamarca region.
    • NEM said last year it would re-evaluate its proposed $5B Conga mine after the election; now it says in an open letter that it is interested in "continuing to invest in Peru and especially the Cajamarca region."
    • Peruvian miner Buenaventura (BVN +1.2%) is NEM's junior partner and owns a 43.65% stake in Conga.
    | 1 Comment
  • Oct. 10, 2014, 12:21 PM
    • Buenaventura (BVN +6.2%) enjoys strong gains after reporting Q3 gold production of ~395K oz. as it foresees FY 2014 gold production of 1.415M-1.545KM oz.
    • Yanacocha, Orcopampa and Tantahuatay all saw Q/Q increases in gold production, while Breapampa and La Zanja were slightly lower.
    | Comment!
  • Oct. 6, 2014, 6:54 PM
    • Peruvians yesterday showed strong support for anti-mining candidates in at least three regional elections, putting investments in the sector at risk, political analysts say.
    • In the Cajamarca region, where ~$9B in mining investments are planned, including ~$5B in the giant Minas Conga copper and gold project, the anti-mining incumbent won re-election despite corruption charges that have led to his being jailed in a maximum-security facility while investigations continue.
    • Newmont Mining (NYSE:NEM) has run the giant Yanacocha gold mine in Cajamarca for 20 years, and analysts say benefits of the mine haven’t been felt in the poor, mostly agricultural area; NEM owns a 51.35% stake in Minera Yanacocha, while Buenaventura (NYSE:BVN) has a 43.65% stake.
    • Production at Yanacocha is flagging, and NEM wants to open the Minas Conga deposits that are adjacent to the existing mine.
    | Comment!
  • Aug. 19, 2014, 8:33 AM
    • Buenaventura (NYSE:BVN) is taking full control of the Chucapaca gold deposit in Peru by buying a 51% stake in the project from partner Gold Fields (NYSE:GFI), raising its stake from 49%.
    • BVN, which is paying $81M plus royalties, says it will develop the deposit as an underground mine instead of as an open-pit project the two companies once deemed too costly.
    • Chucapaca has been estimated to produce 500K oz. of gold per year once up and running.
    | Comment!
  • Jul. 30, 2014, 7:32 PM
    • Compañía de Minas Buenaventura S.A.A. (NYSE:BVN): Q2 EPS of $0.09 misses by $0.09.
    • Revenue of $305.1M (+6.8% Y/Y) misses by $4.05M.
    • Press Release
    | Comment!
  • Jun. 20, 2014, 3:22 PM
    • It's a good idea to have exposure to gold stocks in one's portfolio, say JPMorgan analyst John Bridges and team, but beware of sector plays (GDX -1.3%), and instead pick and choose carefully.
    • Goldcorp (G +0.1%) is a "simple decision stock," says the team, thanks to its strong balance sheet, growth profile, and disciplined management. Names like Barrick (ABX -1.2%), Newmont (NEM +1.1%), and Kinross (KGC -1.9%) would fare better in a gold bull market, but today's "back-to-basics phase" means valuations are driven by strong operations and accretive deals.
    • Another theme is to own players with operations in the safest locations, an idea paying off for Agnico (AEM +0.7%), but the team also recently initiated B2Gold (BTG +1.1%) with positive coverage on the idea some companies can learn how to operate successfully in "more complex locations."
    • Another favorite is laggard Buenaventura (BVN -0.5%) which is likely to see improved results in H2.
    | 6 Comments
  • May. 1, 2014, 12:06 PM
    • Miner Buenaventura (BVN -11.2%) shares sink after reporting disappointing Q1 results, showing a loss of $0.04/share vs. analyst consensus for a gain of $0.22/share.
    • Gold equity production totaled 191,448 ox., down 21% Y/Y, mainly due to lower production at Orcopampa and Yanacocha; silver equity production was 4.1M oz., 12% lower than the prior-year quarter.
    • But J.P. Morgan analysts think BVN will begin to turn around this year: The Brocal expansion should result in higher throughput starting in Q2, the Tambomayo project is progressing on track for production in 2016, and the Cerro Verde expansion - turning the mine into one of the world’s largest copper mines - is on time and on budget.
    | Comment!
  • Apr. 22, 2014, 7:55 AM
    • Gold and silver equities now appear more fairly valued, Goldman Sachs says, raising its sector coverage view to Neutral as it sees more responsible capital allocation, successful cost cutting initiatives, a refocus on maximizing free cash flow, and sound strategic portfolio optimization improving the positioning of select companies and offsetting its below-consensus outlook for commodity prices ($1,200/oz. gold from 2015 forward).
    • The firm upgrades Barrick Gold (ABX) to Buy, believing the company's financial flexibility has significantly improved; ABX +1.8% premarket.
    • B2Gold (BTG) is initiated with a Buy rating and C$4.20 price target, as Goldman cites imminent production growth from the Otjikoto project which enhances BTG’s free cash flow generation and should fund future development.
    • Started at Neutral: AGI, FNV, BVN,.
    • Maintained at Buy: GG, AUY, SLV.
    • Sell: IAG, EGO, PAAS.
    • ETFs: GDX, GDXJ, NUGT, DUST, SIL, GLDX, JNUG, SLVP, RING, SILJ, JDST, GGGG, PSAU
    | 19 Comments
  • Apr. 15, 2014, 5:42 PM
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  • Mar. 27, 2014, 5:45 PM
    • Top gainers, as of 5:15 p.m.: RH +9.3%. VRS +7.9%. PAMT +4.8%. JMLP +3.9%. WTW +3.4%.
    • Top losers, as of 5:15 p.m.: CZR -5.8%. BVN -4.9%. WEC -4.6%. MTDR -3.7%. CRK -3.7%.
    | Comment!
  • Mar. 3, 2014, 9:55 AM
    | 10 Comments
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Company Description
Buenaventura Mining Co Inc is a precious metal company & is engaged in the exploration, mining, concentration, smelting & marketing of polymetallic ores & metals. It produces refined gold & silver, either as dore bars or concentrates, & other metals.
Industry: Gold
Country: Perú