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Compania de Minas Buenaventura SAA
(NYSE:BVN)
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Rating:74Outperform
Price Target:
$36.00
▲(16.47% Upside)
Action:Reiterated
Date:08/05/26
BVN scores well primarily on improving financial performance and an attractive valuation (low P/E and solid dividend yield). The score is held back by mixed cash-flow conversion and operational execution risk highlighted on the earnings call (San Gabriel ramp-up/costs), while technicals are neutral-to-mildly supportive rather than strongly bullish.
Positive Factors
Revenue & Margin Recovery
Sustained revenue growth and materially higher margins signal the business has moved to a stronger operating cadence. Higher scale and improved recoveries across assets support durable earnings power, improving ability to fund capex, dividends and buffer commodity cycles over the next 2–6 months.
Negative Factors
San Gabriel Execution Risk
Ongoing filtration and tailings issues cause below-target recoveries and throughput, raising unit costs and requiring retrofit capex. Execution risk at a new mine can persist through 2026–2027, meaning margins and expected volumes may remain impaired until technical fixes and metallurgical optimization are proven.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & Margin Recovery
Sustained revenue growth and materially higher margins signal the business has moved to a stronger operating cadence. Higher scale and improved recoveries across assets support durable earnings power, improving ability to fund capex, dividends and buffer commodity cycles over the next 2–6 months.
Read all positive factors
Compania de Minas Buenaventura SAA (BVN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.04B
Dividend Yield3.75%
Average Volume (3M)1.13M
Price to Earnings (P/E)7.8
Beta (1Y)0.83
Revenue Growth68.80%
EPS Growth102.79%
CountryUS
Employees8,310
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)3.86
Shares Outstanding253,715,180
10 Day Avg. Volume976,075
30 Day Avg. Volume1,130,715
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)1.74
Price to Sales (P/S)4.08
P/FCF Ratio67.76
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$37.25Price Target Upside20.51% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)4.67
Revenue Forecast (FY)$2.50B
Compania de Minas Buenaventura SAA Business Overview & Revenue Model
Company Description
Compañía de Minas Buenaventura S.A.A. is a prominent Peruvian mining company focused on the exploration, development, processing, and commercialization of both precious and base metals. Its primary targets for extraction include gold, silver, lead...
How the Company Makes Money
Buenaventura generates revenue primarily from the sale of mined and processed metals. Its core revenue streams include: (1) Sales from operating mines: the company extracts ore, processes it (including concentration and/or production of doré), and...
Compania de Minas Buenaventura SAA Earnings Call Summary
Earnings Call Date:Jul 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call emphasized strong financial performance (revenues +43%, EBITDA +113%, net income +165%), solid cash position and large dividend inflows, alongside production gains and growth investments (San Gabriel commercial sales, Yumpag throughput approval). These positives are tempered by operational challenges at San Gabriel (filtration, recoveries, incremental CapEx), some elevated unit costs while ramping, and weather preparedness spending. On balance, the substantive financial and portfolio strengths outweigh the operational ramp-up issues and modest cost pressures.Positive Updates
Strong Revenue Growth
Total revenues increased 43% year-over-year to $529 million in Q2 2026, driven by robust operational performance and favorable metal prices.
Negative Updates
San Gabriel Ramp-Up Operational Issues
San Gabriel ramp-up constrained by tailings management and filtration challenges (press filter foundation movement), moisture control and metallurgical optimization issues; throughput remains below steady-state and is driving elevated unit costs.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Revenue Growth
Total revenues increased 43% year-over-year to $529 million in Q2 2026, driven by robust operational performance and favorable metal prices.
Read all positive updates
Company Guidance
Management's guidance emphasized San Gabriel's ramp‑up (first commercial sales in Q2; 2.8k oz produced in Q2) with a target gold recovery of ~70% by end‑2026 and ~85% by end‑2027, remaining San Gabriel CapEx of ~$60M plus ~$5–10M to reinforce three press filters and ~$15M to add a flotation circuit (OpEx impact ~$1–2/ton); company FY CapEx guidance is ~$500M (≈$200M spent H1); Yumpag received approval to raise throughput from 1.0k to 1.2k tpd (~10% production upside) and will connect to the grid in Q4, diluting fixed costs ~20% and lowering operating costs ~15–17%; Cerro Verde dividends to Buenaventura totalled ~$274M YTD (including $118M in July) with full‑year receipts expected ~$350–380M and copper production guidance steady at ~370–380k t of Cu (H1: 187k t); macro/costs: Q2 revenues $529M, EBITDA $277M (52% margin), net income $261M, cash $759M, total debt $69.0M (net cash ≈$67M, net debt/EBITDA -0.05x), diesel pressure could add ~5–7% to OpEx, and an incremental ~$12M of El Niño preparedness CapEx was authorized.Compania de Minas Buenaventura SAA Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
78
Positive
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.05B | 1.73B | 1.15B | 823.85M | 824.80M | 900.45M |
| Gross Profit | 1.06B | 782.39M | 563.13M | 91.25M | 61.33M | 87.34M |
| EBITDA | 1.38B | 1.03B | 599.21M | 173.71M | 170.98M | 158.04M |
| Net Income | 976.32M | 782.14M | 402.69M | 19.86M | 602.55M | -264.07M |
Balance Sheet | ||||||
| Total Assets | 6.29B | 6.02B | 5.05B | 4.53B | 4.50B | 4.56B |
| Cash, Cash Equivalents and Short-Term Investments | 759.93M | 529.84M | 478.44M | 219.79M | 253.92M | 377.00M |
| Total Debt | 707.99M | 709.67M | 626.78M | 706.58M | 738.53M | 1.11B |
| Total Liabilities | 1.94B | 1.76B | 1.49B | 1.36B | 1.34B | 2.02B |
| Stockholders Equity | 4.15B | 4.06B | 3.39B | 3.01B | 3.01B | 2.37B |
Cash Flow | ||||||
| Free Cash Flow | 397.74M | 104.97M | 148.28M | -11.64M | -110.25M | -287.33M |
| Operating Cash Flow | 913.21M | 580.94M | 485.95M | 227.80M | 41.64M | -197.18M |
| Investing Cash Flow | -520.28M | -480.66M | -117.90M | -206.20M | 205.64M | -86.14M |
| Financing Cash Flow | -281.40M | -48.55M | -109.47M | -55.84M | -370.29M | 424.63M |
Compania de Minas Buenaventura SAA Technical Analysis
Positive
30.91
Price Trends
31.64
Positive
32.82
Negative
31.23
Positive
Market Momentum
<0.01
Negative
55.52
Neutral
54.33
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 30.91 is above the 20-day moving average (MA) of 30.63, below the 50-day MA of 31.64, and below the 200-day MA of 31.23, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 55.52 is Neutral, neither overbought nor oversold. The STOCH value of 54.33 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 2 New Risks
1.
Russia/Ukraine War, Conflicts in the Middle East, Other Conflicts and Terrorism. Q4, 2023
2.
COVID-19 Pandemic Q4, 2023
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 |
|---|---|---|---|---|---|---|---|
77 Outperform | $9.47B | 34.44 | 11.04% | 0.09% | 56.81% | 525.85% | |
76 Outperform | $15.37B | 11.93 | 16.27% | 0.13% | 116.56% | 325.61% | |
74 Outperform | $8.04B | 7.84 | 25.24% | 3.67% | 68.80% | 102.79% | |
73 Outperform | $9.97B | 10.06 | 32.51% | 2.46% | 31.10% | 57.19% | |
65 Neutral | $661.55M | -329.11 | -0.17% | ― | 89.91% | 61.27% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
45 Neutral | $6.16B | -19.61 | -12.94% | 3.72% | 19.11% | 27.86% |
* Basic Materials Sector Average
BVN
Compania de Minas Buenaventura SAA
32.26
14.95
86.37%
CDE
Coeur Mining
16.21
6.47
66.44%
HMY
Harmony Gold Mining
16.88
1.29
8.29%
HL
Hecla Mining Company
15.39
9.26
150.98%
SBSW
Sibanye Stillwater
9.56
0.80
9.17%
GROY
Gold Royalty
2.69
-0.18
-6.27%
Compania de Minas Buenaventura SAA Corporate Events
Buenaventura Posts Robust 2Q26 Results as San Gabriel Ramp-Up and Cerro Verde Dividends Strengthen Cash Position
Jul 31, 2026
Buenaventura reported a strong second quarter for the period ended June 30, 2026, with higher precious metals output and sharply improved financial results. Gold production rose 12% year-on-year, supported by the ramp-up at the San Gabriel project...
Buenaventura Posts Solid Second-Quarter 2026 Metals Output and Updates Full-Year Guidance
Jul 17, 2026
On July 16, 2026, Buenaventura reported its second-quarter 2026 production and sales volumes, confirming solid output across its gold, silver and base metal operations in Peru. Direct gold production reached 30,543 ounces in the quarter and 60,547...
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.