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Why Buenaventura Mining (BVN) Could Be Positioned for a Surge?

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Compañía de Minas Buenaventura S.A.A. (BVN - Free Report) is a Peruvian mining company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on BVN’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Buenaventura Mining could be a solid choice for investors.

Current Quarter Estimates for BVN

In the past 30 days, 1 estimate has gone higher for Buenaventura Mining while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates rising from 10 cents a share 30 days ago, to 17 cents per share today, a move of 70%.

Current Year Estimates for BVN

Meanwhile, Buenaventura Mining’s current year figures are also looking quite promising, with 1 estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, rising from 47 cents per share 30 days ago to 50 cents per share today, an increase of 6.4%.

Buenaventura Mining Company Inc. Price and Consensus

Bottom Line

The stock has also started to move higher lately, adding 5.5% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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