Compania de Minas Buenaventura SAA (BVN)
NYSE:BVN
Want to see BVN full AI Analyst Report?
Top Page
Compania de Minas Buenaventura SAA
(NYSE:BVN)
Select Model
Select Model
Rating:76Outperform
Price Target:
$40.00
▲(11.92% Upside)
Action:Reiterated
Date:05/09/26
The score is driven primarily by materially improved financial performance (strong growth, very high margins, low leverage, and rebounding free cash flow) and an attractive valuation (low P/E with a meaningful dividend yield). These positives are moderated by mixed technical signals (negative MACD despite an uptrend) and earnings-call risks tied to cost inflation and execution challenges at San Gabriel, plus lower copper production.
Positive Factors
Improved cash generation and FCF recovery
Sustained, higher operating cash flow and materially recovered free cash flow improve the company’s ability to fund sustaining/growth capex, pay dividends, and absorb shocks. Over the next 2–6 months this strengthens liquidity flexibility and reduces reliance on external financing for project ramps.
Negative Factors
San Gabriel ramp-up operational risk
Operational issues at a newly commissioned plant can materially delay planned throughput and raise incremental capex/Opex to remediate. These are structural project risks that can persist through the rainy season and into 2027, reducing near-term production upside and pressuring margins until fully resolved.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved cash generation and FCF recovery
Sustained, higher operating cash flow and materially recovered free cash flow improve the company’s ability to fund sustaining/growth capex, pay dividends, and absorb shocks. Over the next 2–6 months this strengthens liquidity flexibility and reduces reliance on external financing for project ramps.
Read all positive factors
Compania de Minas Buenaventura SAA (BVN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.90B
Dividend Yield1.45%
Average Volume (3M)1.36M
Price to Earnings (P/E)9.1
Beta (1Y)0.72
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. Volume980,156
30 Day Avg. Volume1,358,934
Financial Highlights & Ratios
PEG Ratio0.10
Price to Book (P/B)1.74
Price to Sales (P/S)4.08
P/FCF Ratio67.34
Enterprise Value/Market Cap0.99
Enterprise Value/Revenue4.32
Enterprise Value/Gross Profit8.33
Enterprise Value/Ebitda7.47
Forecast
1Y Price Target
$44.50Price Target Upside24.51% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)4.54
Revenue Forecast (FY)$2.48B
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:Apr 30, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 23, 2026
Earnings Call Sentiment Positive
The call reported strong top-line and bottom-line improvements (revenues >100% YoY, EBITDA >3x, net income +142%), meaningful production gains in gold (+80%) and silver (+6%), significant permitting progress, and a robust cash position supported by large affiliate dividends. Challenges include a copper production decline (-11%), marked increases in workers' profit sharing and other cost pressures, and operational teething issues at San Gabriel (clay/high moisture, partial equipment delivery, tailings constraints) that will delay full ramp-up. On balance, the positive financial performance, strong cash generation and permitting momentum outweigh the operational and cost headwinds.Positive Updates
Strong Revenue Growth
Total revenues reached $625 million in Q1 2026, more than doubling year over year (>100% YoY), driven by stronger operating performance and a favorable market environment.
Negative Updates
Copper Production Decline
Copper production was 10.9 thousand tons in Q1 2026, down 11% YoY, mainly due to focusing processing at El Brocal on silver ore rather than copper.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Revenue Growth
Total revenues reached $625 million in Q1 2026, more than doubling year over year (>100% YoY), driven by stronger operating performance and a favorable market environment.
Read all positive updates
Company Guidance
Buenaventura guided that San Gabriel has entered ramp‑up and should begin recording sales in Q2 2026, targeting 2,000 tpd by December 2026 and full 3,000 tpd in 2027 (filter presses 50% delivered, currently operating at ~8 bar vs 14 bar design; tailings placement to start in June); Q1 production/guidance metrics included 30,000 oz gold (+80% YoY), 3.9 million oz silver (+6% YoY vs 3.7M), and 10.9 kt copper (−11% YoY); Q1 financials: revenues $625M (>2x YoY), EBITDA from direct operations $386M (>3x YoY) with margins up from 41% to 62%, net income $355M (+142% YoY), CapEx $81M, quarter‑end cash $760M and net cash positive; dividends received YTD ~ $157M including $59M in April, while Cerro Verde is expected to generate >$2.5B EBITDA this year with $350–400M CapEx, ~$1B taxes and $1.2–1.3B FCF (Buenaventura’s share of distributions ~ $200M, $160M already distributed Jan–Apr); permitting milestones include San Gabriel stage‑one operating permit and water license, Yumpag ITS to 12 ktpd (mine plan mod expected 2026), El Brocal ITS to 17 ktpd and Trapiche EIA approved; cost pressures noted: workers’ profit‑sharing up from $2.5M to ~ $19M and diesel +50% (≈+2–2.5% to OpEx); company policy remains unhedged.Compania de Minas Buenaventura SAA Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
78
Positive
Cash Flow
71
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 | 1.18B | 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 | 0.00 | 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 | 148.32M | -11.64M | -110.31M | -323.80M |
| Operating Cash Flow | 913.21M | 580.94M | 486.06M | 227.03M | 41.67M | -233.50M |
| Investing Cash Flow | -520.28M | -480.66M | -117.92M | -205.54M | 205.75M | -86.29M |
| Financing Cash Flow | -281.40M | -48.55M | -109.49M | -55.62M | -370.50M | 461.33M |
Compania de Minas Buenaventura SAA Technical Analysis
Positive
35.74
Price Trends
34.03
Positive
35.01
Positive
28.84
Positive
Market Momentum
0.31
Negative
58.96
Neutral
71.92
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 35.74 is above the 20-day moving average (MA) of 34.73, above the 50-day MA of 34.03, and above the 200-day MA of 28.84, indicating a bullish trend. The MACD of 0.31 indicates Negative momentum. The RSI at 58.96 is Neutral, neither overbought nor oversold. The STOCH value of 71.92 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | $8.90B | 9.11 | 25.24% | 1.45% | 68.80% | 102.79% | |
76 Outperform | $18.46B | 14.78 | 16.27% | ― | 116.56% | 325.61% | |
76 Outperform | $11.36B | 43.07 | 11.04% | 0.07% | 56.81% | 525.85% | |
73 Outperform | $11.25B | 11.42 | 32.51% | 0.87% | 31.10% | 57.19% | |
65 Neutral | $729.30M | -660.72 | -0.17% | ― | 89.91% | 61.27% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
49 Neutral | $8.53B | -27.05 | -12.94% | ― | 19.11% | 27.86% |
* Basic Materials Sector Average
BVN
Compania de Minas Buenaventura SAA
36.89
22.40
154.66%
CDE
Coeur Mining
19.32
11.25
139.41%
HMY
Harmony Gold Mining
18.27
3.96
27.65%
HL
Hecla Mining Company
17.77
12.64
246.19%
SBSW
Sibanye Stillwater
11.93
5.98
100.44%
GROY
Gold Royalty
3.25
1.40
75.68%
Compania de Minas Buenaventura SAA Corporate Events
Buenaventura Files 2025 Form 20-F Annual Report with U.S. SEC
Apr 30, 2026
Compañía de Minas Buenaventura S.A.A., Peru’s largest publicly traded precious and base metals company, operates a portfolio of wholly owned gold and silver mines as well as base metal assets, and holds a significant minority stake...
Buenaventura Reshapes Board Leadership With New Chairman and Lead Director
Apr 30, 2026
On April 29, 2026, Compañía de Minas Buenaventura S.A.A.’s board of directors approved leadership changes, appointing Roque Eduardo Benavides Ganoza as chairman of the board. On the same date, the board also unanimously named indep...
Buenaventura Posts Surging Q1 2026 Profit as San Gabriel Ramps Up and Cash Position Strengthens
Apr 30, 2026
On April 29, 2026, Buenaventura reported strong first-quarter 2026 results for the period ended March 31, 2026, driven by higher gold, silver, lead and zinc output and the ramp-up of its San Gabriel project. Revenues more than doubled year over ye...
Buenaventura Posts First-Quarter 2026 Production and Sales Volumes
Apr 17, 2026
On April 16, 2026, Buenaventura reported its production and sales volumes for the first quarter ended March 31, 2026, detailing output across gold, silver, lead, zinc and copper. The update highlighted 30,035 ounces of gold and 3.90 million ounces...
Buenaventura Schedules First-Quarter 2026 Earnings Call for April 30
Apr 15, 2026
Compañía de Minas Buenaventura S.A.A., Peru’s largest listed precious and base metals producer, operates a portfolio of wholly owned and joint-venture mines across the country, including key gold, silver and copper assets. The comp...
Buenaventura Shareholders Approve 2014 Profit Dividend, Auditor and Board Changes at March 30 Meeting
Apr 1, 2026
At its mandatory annual shareholders’ meeting held on March 30, 2026, Compañía de Minas Buenaventura S.A.A. approved all seven items on the agenda, including 2025 financial statements and annual report, profit allocation, 2025 boar...
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.