Compania de Minas Buenaventura $BVN stock is in a long-tern uptrend channelUptrend and downtrend channel patterns are technical analysis tools used to identify potential future price movements. They are formed by two parallel lines on a chart and can be u... and looks to continue to head higher. Dark pool trading occurred in the stock on September 26, 2022, and October 26, 2022.
We think the dark pool trades were buy orders because $BVN stock rose following the trades hitting the tape.
Buenaventura Announces Third Quarter and Nine-month 2022 Results
On October 27, 2022, Compañia de Minas Buenaventura S.A.A. (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru’s largest publicly-traded precious metals mining company, announced results for the third quarter (3Q22) and nine-month period ended September 30, 2022. All figures have been prepared in accordance with IFRS (International Financial Reporting Standards) on a non-GAAP basis and are stated in U.S. dollars (US$).
Third Quarter 2022 Highlights:
- 3Q22 EBITDA from direct operations was US$ 22.2 million, compared to US$ 39.5 million reported in 3Q21.
- 3Q22 Operating Cash FlowThe cash flow statement provides a detailed overview of the cash inflows and outflows of a company over a specified period of time. It includes cash received from operations, inves... reached US$ 16.1 million, compared to US$ -464.3 million in 3Q21. The 3Q21 Operating Cash Flow figures include a US$ 544.2 million payment to SUNAT, the Peruvian tax authority.
- 3Q22 net loss was US$ 19.8 million, compared to a US$ 91.9 million net loss for the same period in 2021.
- 3Q22 exploration at operating units increased to US$ 20.7 million, compared to US$ 17.1 million in 3Q21. This increase was aligned with the Company’s revised strategy to increase its focus on exploration in order to extend LOM.
- Buenaventura’s cash position reached US$ 288.0 million as of September 30, 2022. Net Debt decreased to US$ 448.1 million with an average maturity of 3.6 years.
- 3Q22 capital expenditures were US$ 37.2 million, compared to US$ 23.9 million for the same period in 2021. 3Q22 CAPEX includes US$ 5.2 million related to the San Gabriel Project and US$ 7.3 million related to the Yumpag Project.
- Construction related activities at San Gabriel are gradually and progressively resuming. Buenaventura has therefore updated its CAPEX guidance for San Gabriel and now expects this to reach approximately US$ 65.0 million by year end 2022.
Buenaventura price target raised at Citi
On October 13, 2022, Citi analyst Alexander Hacking raised the company’s target price on Buenaventura to $7 from $6. He maintains a neutral rating on the stock. The analyst said the company’s 3Q production results were largely positive, with the gold outlook for 2022 being upgraded. Hacking said Buenaventura’s financial results should be stronger on the back of higher production and lower costs at El Brocal.
Watch Jim Cramer break down fresh gold charts analysis from Larry Williams
Compania de Minas Buenaventura $BVN Stock Technical Analysis
Compania de Minas Buenaventura $BVN stock is in a technical uptrend. The stock continues in a powerful uptrend channel. The MACDThe MACD indicator is essentially a momentum indicator that shows the relationship between two different moving averages of price. The MACD is the difference between the 12-period ... is neutral but the money flow is positive.