Compania de Minas Buenaventura SAA (BVN)
NYSE:BVN
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Compania de Minas Buenaventura SAA
(NYSE:BVN)
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Rating:73Outperform
Price Target:
$37.00
▼(-2.25% Downside)
Action:ReiteratedDate:03/07/26
The score is driven primarily by solid financial strength (high recent profitability and improved leverage) and attractive valuation (low P/E). These positives are moderated by cash-flow conversion/FCF weakness and a mixed earnings-call outlook with material ramp-up, cost, and CapEx execution risk; technicals add a modest near-term caution.
Positive Factors
Conservative leverage and stronger balance sheet
Low debt-to-equity, a larger equity base and a sizable cash position materially increase financial resilience. This durable strength supports multi-year capital programs, dividend capacity and liquidity to absorb commodity shocks or fund San Gabriel completion without immediate reliance on external borrowing.
Negative Factors
Weak free cash flow conversion versus earnings
Low FCF-to-net-income conversion indicates much reported profit is not translating into spendable cash after capex. Over months this constrains internal funding for growth or dividends, raises sensitivity to capex timing, and increases dependence on affiliate dividends or asset sales.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative leverage and stronger balance sheet
Low debt-to-equity, a larger equity base and a sizable cash position materially increase financial resilience. This durable strength supports multi-year capital programs, dividend capacity and liquidity to absorb commodity shocks or fund San Gabriel completion without immediate reliance on external borrowing.
Read all positive factors
Compania de Minas Buenaventura SAA (BVN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$9.67B
Dividend Yield1.45%
Average Volume (3M)1.66M
Price to Earnings (P/E)9.0
Beta (1Y)0.80
Revenue Growth27.42%
EPS Growth20.63%
CountryUS
Employees8,310
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)1.51
Shares Outstanding253,715,180
10 Day Avg. Volume1,969,873
30 Day Avg. Volume1,663,711
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)1.74
Price to Sales (P/S)4.06
P/FCF Ratio67.34
Enterprise Value/Market Cap1.00
Enterprise Value/Revenue5.59
Enterprise Value/Gross Profit11.50
Enterprise Value/Ebitda11.54
Forecast
1Y Price Target
$44.50Price Target Upside17.57% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)3.77
Revenue Forecast (FY)$2.37B
Compania de Minas Buenaventura SAA Business Overview & Revenue Model
Company Description
Compañía de Minas Buenaventura S.A.A. engages in the exploration, mining development, processing, and trading of precious and base metals. The company explores for gold, silver, lead, zinc, and copper metals. It operates operating mining units, in...
How the Company Makes Money
Buenaventura generates revenue primarily from the sale of mineral production from its mining operations. Its main revenue streams are (1) sales of gold and silver produced at its operating mines, typically sold as doré bars or as metal contained i...
Compania de Minas Buenaventura SAA Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 23, 2026
Earnings Call Sentiment Neutral
The call presented a mix of meaningful financial strength (very large reported net income increase, solid cash position, dividend increases, San Gabriel nearly complete and initial production achieved, and attractive 2026 revenue/EBITDA guidance under certain metal price assumptions) alongside material operational and cost challenges (production declines in copper and gold, substantial quarter cost spikes, ventilation and ramp-up issues at San Gabriel, and higher-than-expected CapEx). The positives support balance-sheet robustness and shareholder returns, while the operational headwinds and cost volatility temper near-term operational outlook and create execution risk during ramp-up.Positive Updates
Strong Net Income and Cash Position
Net income for full year 2025 was $1,830,000,000 versus $416,000,000 in 2024 (≈+340% YoY). Year-end cash position of $530,000,000 and total debt of $710,000,000, yielding a leverage ratio of 0.22x.
Negative Updates
Declines in Key Production Metrics
Copper production for full year 2025: 52,400 tons, down 8% YoY. Gold production: 121,000 ounces, down 18% YoY (lower output at Orcopampa and Tambomayo consistent with planned mining sequence).
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Net Income and Cash Position
Net income for full year 2025 was $1,830,000,000 versus $416,000,000 in 2024 (≈+340% YoY). Year-end cash position of $530,000,000 and total debt of $710,000,000, yielding a leverage ratio of 0.22x.
Read all positive updates
Company Guidance
Guidance highlights: San Gabriel is entering ramp‑up after reaching ~99% completion with primary crusher, SAG and ball mills and sealed tanks at 100% and the filtered tailings plant complete; first doré produced and initial operating permit received, water license pending, and the company expects a stable 2,000 tpd throughput in 2026 (with a 3,000 tpd design target thereafter). Capital spending guidance is $385–415M for 2025 (sustaining CapEx $200–220M) and growth CapEx $185–195M for 2026 (about $160M of that tied to San Gabriel); G&A is guided at $60–70M and exploration at $90–100M (operating $60–70M; greenfield $20–30M). Production and financial anchors: FY2025 copper 52,400 t (‑8% y/y), silver 15.6M oz (+1%), gold 121,000 oz (‑18%); 2026 gold guidance ~48,055 oz alongside the San Gabriel ramp; FY2025 direct‑ops EBITDA reported $112M, net income $1.83B, year‑end cash $530M, debt $710M (leverage 0.22x). Shareholder returns and cash flow: Cerro Verde dividends of ~ $200M expected in 2026 (already $100M received in Jan, $50M expected in July and $50M in Q4), board approved $0.9904/share dividend (total last‑12‑month ADS dividends $1.0135) and approved a 40% payout of 2025 net income; at price assumptions of $4,500/oz gold, $70/oz silver and $12,000/t copper management expects revenues of $1.8–2.0B and EBITDA of $800–1,000M. Cost trends: copper, silver and gold cash costs are up due to higher personnel, cement and FX impacts, increased commercial deductions/non‑payable values/escalators, and lower throughput in some mines.Compania de Minas Buenaventura SAA Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
82
Very Positive
Cash Flow
64
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.74B | 1.15B | 823.85M | 824.80M | 900.45M |
| Gross Profit | 748.88M | 563.13M | 91.25M | 61.33M | 87.34M |
| EBITDA | 767.86M | 599.21M | 173.71M | 170.98M | 158.04M |
| Net Income | 787.05M | 402.69M | 19.86M | 602.55M | -264.07M |
Balance Sheet | |||||
| Total Assets | 6.02B | 5.05B | 4.53B | 4.50B | 4.56B |
| Cash, Cash Equivalents and Short-Term Investments | 529.84M | 478.44M | 219.79M | 253.92M | 377.00M |
| Total Debt | 709.67M | 626.78M | 706.58M | 738.53M | 1.11B |
| Total Liabilities | 1.76B | 1.49B | 1.36B | 1.34B | 2.02B |
| Stockholders Equity | 4.06B | 3.39B | 3.01B | 3.01B | 2.37B |
Cash Flow | |||||
| Free Cash Flow | 104.97M | 148.32M | -11.64M | -110.31M | -323.80M |
| Operating Cash Flow | 580.94M | 486.06M | 227.03M | 41.67M | -233.50M |
| Investing Cash Flow | -480.66M | -117.92M | -205.54M | 205.75M | -86.29M |
| Financing Cash Flow | -48.55M | -109.49M | -55.62M | -370.50M | 461.33M |
Compania de Minas Buenaventura SAA Technical Analysis
Positive
37.85
Price Trends
36.87
Positive
33.16
Positive
26.67
Positive
Market Momentum
0.41
Negative
57.01
Neutral
79.29
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BVN, the sentiment is Positive. The current price of 37.85 is above the 20-day moving average (MA) of 34.98, above the 50-day MA of 36.87, and above the 200-day MA of 26.67, indicating a bullish trend. The MACD of 0.41 indicates Negative momentum. The RSI at 57.01 is Neutral, neither overbought nor oversold. The STOCH value of 79.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BVN.
Compania de Minas Buenaventura SAA Risk Analysis
Compania de Minas Buenaventura SAA disclosed 42 risk factors in its most recent earnings report. Compania de Minas Buenaventura SAA reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Compania de Minas Buenaventura SAA Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $9.67B | 8.98 | 21.24% | 1.45% | 27.42% | 20.63% | |
73 Outperform | $10.49B | 5.53 | 32.51% | 0.87% | 29.08% | 72.12% | |
70 Outperform | $20.94B | 19.33 | 19.56% | ― | 72.94% | ― | |
69 Neutral | $13.05B | 38.89 | 13.65% | 0.07% | 45.61% | ― | |
65 Neutral | $842.39M | -171.17 | -0.70% | ― | 86.30% | 74.16% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
49 Neutral | $9.17B | -27.73 | -12.94% | ― | 6.27% | 93.14% |
* Basic Materials Sector Average
BVN
Compania de Minas Buenaventura SAA
37.85
23.30
160.12%
CDE
Coeur Mining
20.31
14.21
232.95%
HMY
Harmony Gold Mining
16.55
-0.73
-4.23%
HL
Hecla Mining Company
19.27
13.39
227.78%
SBSW
Sibanye Stillwater
13.06
8.68
198.31%
GROY
Gold Royalty
3.69
2.03
122.29%
Compania de Minas Buenaventura SAA Corporate Events
Buenaventura Posts Surging 2025 Earnings and Boosts Payout as San Gabriel Build Advances
Feb 27, 2026
On February 26, 2026, Buenaventura reported a strong finish to 2025, with fourth-quarter silver output up 2% year-on-year and sharp gains in lead and zinc, though gold production fell 11% due mainly to lower volumes at Tambomayo while copper was f...
Buenaventura Reports Fourth-Quarter and Full-Year 2025 Production Results
Feb 18, 2026
On February 17, 2026, Buenaventura reported its production and metal sales volume for the fourth quarter and full year ended December 31, 2025, detailing output by mine and metal. The disclosure shows solid contributions from key assets like Yumpa...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.