Compania de Minas Buenaventura Stock Price, News & Analysis

Newmont Corporation (NYSE: NEM) has announced its acquisition of Buenaventura's 43.65% stake in Minera Yanacocha for $300 million, with potential contingent payments up to $100 million. The deal aims to consolidate Newmont's position in the Yanacocha district, enhancing its sulfides project, projected to produce 525,000 gold equivalent ounces annually. The acquisition ties into Newmont's long-term goal of sustainable mining in Peru. The expected investment decision is set for late 2022, securing growth and sustainability for the future.

Compañia de Minas Buenaventura S.A.A (NYSE: BVN) announced the sale of its 43.65% stake in Minera Yanacocha for net proceeds of US$ 300 million plus potential future payments of up to US$ 100 million

This move aims to strengthen its balance sheet, reduce debt, and enhance shareholder returns. Concurrently, Buenaventura acquires Newmont's share in the La Zanja joint venture and receives $45 million for closure costs. CEO Leandro Garcia emphasized a focus on reinforcing financial stability and operational performance, although he acknowledged that 2022 will be challenging.

Compañia de Minas Buenaventura S.A.A. reported its 4Q21 production results and outlined production guidance for 2022. In 4Q21, the company produced 19,358 ounces of gold at Orcopampa and 1,499,305 ounces of silver at El Brocal. Total gold production for FY21 reached 50,020 ounces, while silver production totaled 6,158,981 ounces. For 2022, gold production is guided at 57k - 65k ounces and silver at 4.2M - 4.8M ounces. Overall, Buenaventura maintains a strong outlook for precious metal production.

Compañía de Minas Buenaventura S.A.A (NYSE: BVN) will hold its Fourth Quarter 2021 earnings conference call on February 25, 2022, at 9:00 AM ET. Preliminary financial results will be released on February 24, 2022, after market close. CEO Leandro García Raggio and senior management will participate in the call. Participants can join by dialing +1-844-282-4460 in the US or +1-412-317-5611 internationally. The live webcast will be available, and a replay will be accessible for 7 days following the event.

Compañia de Minas Buenaventura S.A.A. (NYSE: BVN) reported its 3Q21 results, showing a significant net loss of $91.9 million compared to a net income of $14.9 million in 3Q20. However, the Company experienced a rise in nine-month EBITDA from direct operations, reaching $141.6 million, up from $88.1 million in 9M20. Exploration expenses increased to $17.1 million in 3Q21, while capital expenditures were also higher at $24 million. The cash position was $287.9 million as of September 30, 2021. The loss was heavily influenced by a $66.4 million impairment related to Yanacocha.

Compañia de Minas Buenaventura S.A.A. (NYSE: BVN) has requested a temporary suspension of mining and ore processing at its Uchucchacua mine to enhance operational efficiency and profitability. This follows a local community strike that began on September 13, 2021. The suspension aims to preserve cash flow and reduce fixed costs, while prioritizing underground exploration and optimizing mining processes. Buenaventura plans to gradually restart operations post achieving necessary improvements, without significant impact on projected cash flows for 2021 and 2022.

Compañia de Minas Buenaventura S.A.A. (NYSE: BVN) reported its 3Q21 production figures, showing significant gold and silver output. For gold, 3Q21 production was led by Yanacocha with 65,220 ounces and Orcopampa with 15,547 ounces. Total gold production for 9M21 reached 30,663 ounces at Orcopampa, while silver production totaled 3.7 million ounces overall. The company updated its 2021 guidance, projecting gold production between 40k-45k ounces for Orcopampa and a total of 315k ounces from Yanacocha. The company also adjusted silver output guidance to between 5.4M and 6.0M ounces for El Brocal.

Compañía de Minas Buenaventura S.A.A (NYSE: BVN) is set to hold its Third Quarter 2021 earnings conference call on October 29, 2021, at 10:00 AM ET. Financial results will be released on October 28, 2021. Participating in the call will be CEO Leandro García Raggio and senior management, discussing the company's financial and operating results. Buenaventura operates several mines in Peru and is a key player in precious metals, holding significant stakes in Minera Yanacocha and Sociedad Minera Cerro Verde. For more information, visit www.buenaventura.com.

Compañia de Minas Buenaventura S.A.A. (NYSE: BVN) announced a strike initiated by the local community surrounding its Uchucchacua mine on September 13, 2021, which has led to the suspension of mine operations due to blocked access. The community claims violations of agreements from 2012 and 2018, despite Buenaventura's assertion of compliance. The Company has proposed meetings for dialogue and expects potential negative impacts on Q3 results if unresolved. Ongoing maintenance activities continue, with plans to adjust operations as needed.