Intrinsic value of Compania de Minas Buenaventura ADR - BVN

Previous Close

$13.67

  Intrinsic Value

$3.41

stock screener

  Rating & Target

str. sell

-75%

Previous close

$13.67

 
Intrinsic value

$3.41

 
Up/down potential

-75%

 
Rating

str. sell

We calculate the intrinsic value of BVN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.9

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  19.20
  17.78
  16.50
  15.35
  14.32
  13.38
  12.55
  11.79
  11.11
  10.50
  9.95
  9.46
  9.01
  8.61
  8.25
  7.92
  7.63
  7.37
  7.13
  6.92
  6.73
  6.55
  6.40
  6.26
  6.13
  6.02
  5.92
  5.83
  5.74
  5.67
Revenue, $m
  1,519
  1,789
  2,084
  2,404
  2,749
  3,117
  3,508
  3,921
  4,357
  4,814
  5,293
  5,794
  6,316
  6,860
  7,426
  8,014
  8,626
  9,261
  9,922
  10,608
  11,322
  12,064
  12,836
  13,639
  14,475
  15,347
  16,255
  17,202
  18,190
  19,221
Variable operating expenses, $m
  1,358
  1,599
  1,863
  2,150
  2,457
  2,786
  3,136
  3,505
  3,895
  4,304
  4,732
  5,180
  5,647
  6,133
  6,639
  7,165
  7,711
  8,280
  8,870
  9,484
  10,122
  10,785
  11,475
  12,193
  12,941
  13,720
  14,532
  15,378
  16,262
  17,183
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  1,358
  1,599
  1,863
  2,150
  2,457
  2,786
  3,136
  3,505
  3,895
  4,304
  4,732
  5,180
  5,647
  6,133
  6,639
  7,165
  7,711
  8,280
  8,870
  9,484
  10,122
  10,785
  11,475
  12,193
  12,941
  13,720
  14,532
  15,378
  16,262
  17,183
Operating income, $m
  161
  190
  221
  255
  291
  330
  372
  416
  462
  510
  561
  614
  670
  727
  787
  849
  914
  982
  1,052
  1,124
  1,200
  1,279
  1,361
  1,446
  1,534
  1,627
  1,723
  1,823
  1,928
  2,037
EBITDA, $m
  628
  740
  862
  994
  1,137
  1,289
  1,451
  1,622
  1,802
  1,991
  2,189
  2,396
  2,612
  2,837
  3,071
  3,315
  3,568
  3,830
  4,104
  4,388
  4,683
  4,990
  5,309
  5,641
  5,987
  6,347
  6,723
  7,115
  7,523
  7,950
Interest expense (income), $m
  -34
  39
  55
  72
  91
  111
  132
  156
  180
  206
  234
  263
  293
  324
  357
  391
  427
  464
  503
  543
  584
  628
  672
  719
  768
  818
  871
  926
  983
  1,043
  1,105
Earnings before tax, $m
  122
  135
  149
  164
  181
  198
  216
  235
  256
  277
  299
  321
  345
  370
  396
  422
  450
  479
  509
  540
  573
  606
  641
  678
  716
  756
  797
  840
  885
  932
Tax expense, $m
  33
  36
  40
  44
  49
  53
  58
  64
  69
  75
  81
  87
  93
  100
  107
  114
  122
  129
  137
  146
  155
  164
  173
  183
  193
  204
  215
  227
  239
  252
Net income, $m
  89
  98
  109
  120
  132
  145
  158
  172
  187
  202
  218
  235
  252
  270
  289
  308
  329
  350
  372
  394
  418
  443
  468
  495
  523
  552
  582
  613
  646
  681

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  5,167
  6,086
  7,090
  8,178
  9,349
  10,600
  11,930
  13,337
  14,819
  16,375
  18,005
  19,708
  21,483
  23,333
  25,258
  27,259
  29,339
  31,501
  33,747
  36,082
  38,509
  41,033
  43,658
  46,391
  49,236
  52,199
  55,288
  58,509
  61,869
  65,377
Adjusted assets (=assets-cash), $m
  5,167
  6,086
  7,090
  8,178
  9,349
  10,600
  11,930
  13,337
  14,819
  16,375
  18,005
  19,708
  21,483
  23,333
  25,258
  27,259
  29,339
  31,501
  33,747
  36,082
  38,509
  41,033
  43,658
  46,391
  49,236
  52,199
  55,288
  58,509
  61,869
  65,377
Revenue / Adjusted assets
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
  0.294
Average production assets, $m
  2,336
  2,752
  3,206
  3,698
  4,227
  4,793
  5,395
  6,031
  6,701
  7,405
  8,141
  8,911
  9,714
  10,551
  11,421
  12,326
  13,266
  14,244
  15,260
  16,315
  17,413
  18,554
  19,741
  20,977
  22,263
  23,603
  25,000
  26,456
  27,976
  29,562
Working capital, $m
  175
  206
  240
  277
  316
  358
  403
  451
  501
  554
  609
  666
  726
  789
  854
  922
  992
  1,065
  1,141
  1,220
  1,302
  1,387
  1,476
  1,568
  1,665
  1,765
  1,869
  1,978
  2,092
  2,210
Total debt, $m
  1,017
  1,332
  1,676
  2,050
  2,451
  2,880
  3,337
  3,819
  4,328
  4,861
  5,420
  6,004
  6,613
  7,248
  7,908
  8,594
  9,308
  10,049
  10,820
  11,621
  12,453
  13,319
  14,219
  15,157
  16,132
  17,149
  18,208
  19,313
  20,466
  21,669
Total liabilities, $m
  1,772
  2,087
  2,432
  2,805
  3,207
  3,636
  4,092
  4,575
  5,083
  5,617
  6,176
  6,760
  7,369
  8,003
  8,663
  9,350
  10,063
  10,805
  11,575
  12,376
  13,209
  14,074
  14,975
  15,912
  16,888
  17,904
  18,964
  20,069
  21,221
  22,424
Total equity, $m
  3,395
  3,998
  4,658
  5,373
  6,142
  6,964
  7,838
  8,763
  9,736
  10,759
  11,829
  12,948
  14,115
  15,330
  16,594
  17,909
  19,276
  20,696
  22,172
  23,706
  25,300
  26,959
  28,683
  30,479
  32,348
  34,295
  36,324
  38,441
  40,648
  42,953
Total liabilities and equity, $m
  5,167
  6,085
  7,090
  8,178
  9,349
  10,600
  11,930
  13,338
  14,819
  16,376
  18,005
  19,708
  21,484
  23,333
  25,257
  27,259
  29,339
  31,501
  33,747
  36,082
  38,509
  41,033
  43,658
  46,391
  49,236
  52,199
  55,288
  58,510
  61,869
  65,377
Debt-to-equity ratio
  0.300
  0.330
  0.360
  0.380
  0.400
  0.410
  0.430
  0.440
  0.440
  0.450
  0.460
  0.460
  0.470
  0.470
  0.480
  0.480
  0.480
  0.490
  0.490
  0.490
  0.490
  0.490
  0.500
  0.500
  0.500
  0.500
  0.500
  0.500
  0.500
  0.500
Adjusted equity ratio
  0.657
  0.657
  0.657
  0.657
  0.657
  0.657
  0.657
  0.657
  0.657
  0.657
  0.657
  0.657
  0.657
  0.657
  0.657
  0.657
  0.657
  0.657
  0.657
  0.657
  0.657
  0.657
  0.657
  0.657
  0.657
  0.657
  0.657
  0.657
  0.657
  0.657

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  89
  98
  109
  120
  132
  145
  158
  172
  187
  202
  218
  235
  252
  270
  289
  308
  329
  350
  372
  394
  418
  443
  468
  495
  523
  552
  582
  613
  646
  681
Depreciation, amort., depletion, $m
  467
  550
  641
  740
  845
  959
  1,079
  1,206
  1,340
  1,481
  1,628
  1,782
  1,943
  2,110
  2,284
  2,465
  2,653
  2,849
  3,052
  3,263
  3,483
  3,711
  3,948
  4,195
  4,453
  4,721
  5,000
  5,291
  5,595
  5,912
Funds from operations, $m
  556
  649
  750
  860
  977
  1,103
  1,237
  1,378
  1,527
  1,683
  1,846
  2,017
  2,195
  2,380
  2,573
  2,774
  2,982
  3,198
  3,424
  3,657
  3,901
  4,153
  4,416
  4,690
  4,975
  5,272
  5,582
  5,905
  6,241
  6,593
Change in working capital, $m
  28
  31
  34
  37
  40
  42
  45
  48
  50
  53
  55
  58
  60
  63
  65
  68
  70
  73
  76
  79
  82
  85
  89
  92
  96
  100
  104
  109
  114
  119
Cash from operations, $m
  528
  618
  716
  823
  938
  1,061
  1,192
  1,330
  1,477
  1,630
  1,791
  1,959
  2,135
  2,318
  2,508
  2,706
  2,912
  3,125
  3,348
  3,578
  3,818
  4,068
  4,328
  4,598
  4,879
  5,172
  5,477
  5,796
  6,128
  6,474
Maintenance CAPEX, $m
  -392
  -467
  -550
  -641
  -740
  -845
  -959
  -1,079
  -1,206
  -1,340
  -1,481
  -1,628
  -1,782
  -1,943
  -2,110
  -2,284
  -2,465
  -2,653
  -2,849
  -3,052
  -3,263
  -3,483
  -3,711
  -3,948
  -4,195
  -4,453
  -4,721
  -5,000
  -5,291
  -5,595
New CAPEX, $m
  -376
  -415
  -454
  -492
  -529
  -566
  -601
  -636
  -670
  -704
  -737
  -770
  -803
  -836
  -870
  -905
  -941
  -977
  -1,016
  -1,056
  -1,097
  -1,141
  -1,187
  -1,236
  -1,286
  -1,340
  -1,397
  -1,456
  -1,519
  -1,586
Cash from investing activities, $m
  -768
  -882
  -1,004
  -1,133
  -1,269
  -1,411
  -1,560
  -1,715
  -1,876
  -2,044
  -2,218
  -2,398
  -2,585
  -2,779
  -2,980
  -3,189
  -3,406
  -3,630
  -3,865
  -4,108
  -4,360
  -4,624
  -4,898
  -5,184
  -5,481
  -5,793
  -6,118
  -6,456
  -6,810
  -7,181
Free cash flow, $m
  -240
  -265
  -288
  -311
  -331
  -350
  -368
  -385
  -400
  -414
  -427
  -439
  -450
  -461
  -472
  -483
  -494
  -505
  -517
  -529
  -542
  -556
  -570
  -586
  -603
  -621
  -640
  -661
  -683
  -707
Issuance/(repayment) of debt, $m
  287
  315
  344
  373
  402
  429
  456
  483
  508
  534
  559
  584
  609
  634
  660
  686
  714
  741
  771
  801
  832
  866
  901
  937
  976
  1,017
  1,059
  1,105
  1,153
  1,203
Issuance/(repurchase) of shares, $m
  458
  505
  551
  595
  637
  678
  716
  752
  787
  820
  853
  884
  915
  945
  976
  1,006
  1,038
  1,071
  1,104
  1,140
  1,177
  1,216
  1,257
  1,300
  1,347
  1,396
  1,448
  1,503
  1,562
  1,624
Cash from financing (excl. dividends), $m  
  745
  820
  895
  968
  1,039
  1,107
  1,172
  1,235
  1,295
  1,354
  1,412
  1,468
  1,524
  1,579
  1,636
  1,692
  1,752
  1,812
  1,875
  1,941
  2,009
  2,082
  2,158
  2,237
  2,323
  2,413
  2,507
  2,608
  2,715
  2,827
Total cash flow (excl. dividends), $m
  505
  555
  607
  658
  708
  756
  804
  850
  896
  941
  985
  1,029
  1,073
  1,118
  1,163
  1,210
  1,257
  1,307
  1,358
  1,411
  1,467
  1,526
  1,587
  1,652
  1,720
  1,791
  1,867
  1,947
  2,031
  2,120
Retained Cash Flow (-), $m
  -547
  -604
  -660
  -715
  -769
  -822
  -874
  -924
  -974
  -1,022
  -1,071
  -1,119
  -1,167
  -1,215
  -1,264
  -1,315
  -1,367
  -1,420
  -1,476
  -1,534
  -1,595
  -1,658
  -1,725
  -1,795
  -1,869
  -1,947
  -2,029
  -2,116
  -2,208
  -2,304
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -42
  -48
  -53
  -57
  -62
  -66
  -70
  -74
  -78
  -82
  -86
  -89
  -93
  -97
  -101
  -105
  -109
  -114
  -118
  -123
  -128
  -133
  -138
  -144
  -149
  -156
  -162
  -169
  -177
  -184
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  -40
  -44
  -46
  -47
  -48
  -48
  -47
  -46
  -45
  -43
  -41
  -38
  -35
  -33
  -30
  -27
  -24
  -21
  -18
  -16
  -13
  -11
  -9
  -7
  -6
  -5
  -3
  -3
  -2
  -1
Current shareholders' claim on cash, %
  86.2
  75.1
  66.0
  58.6
  52.4
  47.2
  42.8
  39.1
  35.9
  33.1
  30.7
  28.5
  26.7
  25.0
  23.5
  22.2
  20.9
  19.9
  18.8
  17.9
  17.1
  16.3
  15.6
  14.9
  14.3
  13.7
  13.1
  12.6
  12.1
  11.7

Compania de Minas Buenaventura S.A.A. (Buenaventura) is a precious metals company. The Company is engaged in the exploration, mining and processing of gold, silver and other metals in Peru. The Company's segments include Production and sale of minerals; Exploration and development activities; Construction and engineering services; Energy generation and transmission services; Insurance brokerage; Rental of mining concessions; Holding of investment in shares (mainly in Minera Yanacocha S.R.L. and S.M.R.L. Chaupiloma Dos de Cajamarca), and Industrial activities. The Company operates the Orcopampa, Uchucchacua, Julcani, Mallay and Breapampa mines and has controlling interests in over three other mining companies, which operate the Colquijirca-Marcapunta, Tantahuatay and La Zanja mines. It also owns an electric power transmission company, a hydroelectric plant, a processing plant and an engineering services consulting company and non-controlling interests in various other mining companies.

FINANCIAL RATIOS  of  Compania de Minas Buenaventura ADR (BVN)

Valuation Ratios
P/E Ratio -10.8
Price to Sales 3.3
Price to Book 1.2
Price to Tangible Book
Price to Cash Flow 8.9
Price to Free Cash Flow 182.9
Growth Rates
Sales Growth Rate 12.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 67.6%
Cap. Spend. - 3 Yr. Gr. Rate -5.9%
Financial Strength
Quick Ratio 1
Current Ratio 0
LT Debt to Equity 19.6%
Total Debt to Equity 22.9%
Interest Coverage 9
Management Effectiveness
Return On Assets -8.3%
Ret/ On Assets - 3 Yr. Avg. -5.7%
Return On Total Capital -8.9%
Ret/ On T. Cap. - 3 Yr. Avg. -6.3%
Return On Equity -10.8%
Return On Equity - 3 Yr. Avg. -7.5%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 22.8%
Gross Margin - 3 Yr. Avg. 12.2%
EBITDA Margin -27%
EBITDA Margin - 3 Yr. Avg. -21.3%
Operating Margin 12.3%
Oper. Margin - 3 Yr. Avg. 0.7%
Pre-Tax Margin -23.9%
Pre-Tax Margin - 3 Yr. Avg. -19.2%
Net Profit Margin -30.2%
Net Profit Margin - 3 Yr. Avg. -23.3%
Effective Tax Rate -21.2%
Eff/ Tax Rate - 3 Yr. Avg. 54.4%
Payout Ratio 0%

BVN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the BVN stock intrinsic value calculation we used $1274.378 million for the last fiscal year's total revenue generated by Compania de Minas Buenaventura ADR. The default revenue input number comes from 0001 income statement of Compania de Minas Buenaventura ADR. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our BVN stock valuation model: a) initial revenue growth rate of 19.2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for BVN is calculated based on our internal credit rating of Compania de Minas Buenaventura ADR, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Compania de Minas Buenaventura ADR.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of BVN stock the variable cost ratio is equal to 89.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for BVN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Compania de Minas Buenaventura ADR.

Corporate tax rate of 27% is the nominal tax rate for Compania de Minas Buenaventura ADR. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the BVN stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for BVN are equal to 153.8%.

Life of production assets of 0 years is the average useful life of capital assets used in Compania de Minas Buenaventura ADR operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for BVN is equal to 11.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $2848.037 million for Compania de Minas Buenaventura ADR - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 209.125 million for Compania de Minas Buenaventura ADR is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Compania de Minas Buenaventura ADR at the current share price and the inputted number of shares is $2.9 billion.

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COMPANY NEWS

▶ Buenaventura: 3Q Earnings Snapshot   [Oct-25-18 07:53PM  Associated Press]
▶ Buenaventura to Host Investor Day on March 12, 2019   [Oct-16-18 12:30PM  Business Wire]
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▶ Buenaventura: 1Q Earnings Snapshot   [05:07AM  Associated Press]
▶ Buenaventura Announces First Quarter 2018 Results   [Apr-26-18 05:46PM  Business Wire]
▶ New Strong Buy Stocks for March 21st   [Mar-21-18 11:16AM  Zacks]
▶ Reading the Technicals and Price Movements of Mining Stocks   [Jan-26-18 11:13AM  Market Realist]
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▶ Mining Stocks Follow Precious Metals: Technical Insights   [Jan-05-18 12:10PM  Market Realist]
▶ Nicole Bernex Joins Buenaventuras Board of Directors   [Jan-03-18 05:07PM  Business Wire]
▶ A Look at the Gold Spreads at the End of 2017   [05:05PM  Market Realist]
▶ Stocks Generating Improved Relative Strength: Buenaventura Comp   [Dec-21-17 03:00AM  Investor's Business Daily]
▶ Why Platinum Led the Precious Metals Pack on December 18   [Dec-19-17 10:52AM  Market Realist]
▶ Where Are Precious Metal Spreads Moving?   [Dec-05-17 05:30PM  Market Realist]
▶ A Look at Miners Volatility   [Nov-29-17 05:37PM  Market Realist]
▶ How Mining Stocks Moved in Mid-November   [Nov-21-17 12:35PM  Market Realist]
▶ Analyzing the Correlation of Mining Stocks to Gold   [Nov-06-17 03:17PM  Market Realist]
▶ How Did Mining Stocks Perform on October 27?   [Oct-31-17 07:37AM  Market Realist]
▶ Buenaventura reports 3Q loss   [07:29PM  Associated Press]
▶ Are Mining Shares Correlation Readings Falling?   [Oct-25-17 07:42AM  Market Realist]
▶ Whats Affecting Gold Prices?   [Oct-24-17 01:15PM  Market Realist]
▶ Are Mining Stocks Following Precious Metals?   [Oct-20-17 09:10AM  Market Realist]
▶ Are Global Fears Controlling Precious Metals?   [Oct-18-17 12:22PM  Market Realist]
▶ Inside Mining Stock Technicals on October 12   [01:36PM  Market Realist]
▶ Mining Stocks Today: Your Technical Updates   [Oct-11-17 07:41AM  Market Realist]
▶ Buenaventura Comp Getting Closer To Key Technical Measure   [Oct-09-17 03:00AM  Investor's Business Daily]
▶ How Mining Shares Moved on October 2   [Oct-04-17 07:44AM  Market Realist]
▶ US Dollar Shines Bright as Precious Metals Fade   [Sep-29-17 06:03PM  Market Realist]
▶ [$$] Why Gold Stocks Can't Beat Gold   [02:47PM  Barrons.com]
▶ Inside Mining Stock Moving Averages This Week   [Sep-28-17 03:07PM  Market Realist]
▶ Buenaventura Comp Getting Closer To Key Technical Measure   [Sep-26-17 03:00AM  Investor's Business Daily]
▶ Behind Mining Price Movements in September   [Sep-25-17 10:29AM  Market Realist]
▶ Stocks With Rising Relative Strength: Buenaventura Comp   [Sep-15-17 03:00AM  Investor's Business Daily]
▶ Analyzing Miners Volatilities and RSI Levels   [07:39AM  Market Realist]
▶ What Miners Volatility Metrics Indicate   [Sep-07-17 02:33PM  Market Realist]
▶ What Are the Technical Indicators of Mining Stocks?   [Sep-06-17 01:19PM  Market Realist]
▶ Buenaventura Comp Trying To Close In On Key Technical Measure   [03:00AM  Investor's Business Daily]
▶ Buenaventura Reaches Commercial Production at Tambomayo   [Sep-05-17 08:01AM  Business Wire]
▶ Buenaventura Comp Getting Closer To Key Technical Benchmark   [Aug-29-17 03:00AM  Investor's Business Daily]
▶ How US Employment Numbers Played Precious Metals This Week   [Aug-07-17 03:22PM  Market Realist]
▶ What Miners Technical Indicators Suggest   [Aug-04-17 10:19AM  Market Realist]
▶ How Did Miners Correlations Trend in July?   [Aug-02-17 11:33AM  Market Realist]
▶ Buenaventura reports 2Q loss   [Jul-28-17 08:04PM  Associated Press]

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