Compania de Minas Buenaventura Stock Price, News & Analysis

Compañia de Minas Buenaventura S.A.A. (NYSE: BVN; Lima Stock Exchange: BUE.LM) reported its 4Q20 production results and 2021 guidance. In 4Q20, gold production reached 15,699 ounces, and silver production was 477,127 ounces, contributing to total FY20 gold production of 63,477 ounces, below the revised guidance of 70k-74k ounces. The company anticipates improvements in 2021, with gold guidance set between 69k-75k ounces and silver guidance at 1.2M-1.4M ounces. Notably, production may be adversely impacted by potential COVID-19 effects.

Compañia de Minas Buenaventura S.A.A. (NYSE: BVN; BUE.LM) has announced the successful conclusion of the Deferral and Fractioning approval with SUNAT regarding a tax dispute. The dispute involves 2,107.5 million soles (US$ 585.4 million) owed for tax years 2007-2010, which SUNAT deemed necessary due to non-recognition of deductions. Buenaventura will pay this amount over six years with an initial payment of 14% and monthly installments at a 0.8% interest rate. The company continues to exercise its right of self-defense against SUNAT's claims.

Compañía de Minas Buenaventura S.A.A. (NYSE: BVN; Lima Stock Exchange: BUE.LM) will host its Fourth Quarter 2020 earnings conference call on February 26, 2021, at 9:00 AM ET. The company's financial results will be released on February 25, 2021, after market close. CEO Leandro García Raggio and senior management will participate in the call to discuss the results. Interested participants can join via a toll-free number or register for a call-back option. The conference call will be available for replay for 7 days.

Compañia de Minas Buenaventura S.A.A. (NYSE: BVN; Lima Stock Exchange: BUE.LM) has promoted Mr. Aldo Massa to Vice President of Business Development and Commercial, effective immediately. Previously serving as Commercial Manager since February 2020, Massa brings over 23 years of mining experience, including a role at Southern Copper Corporation. CEO Leandro Garcia praised Massa's leadership and negotiation skills, emphasizing his importance in developing key partnerships. Buenaventura is Peru's largest publicly traded precious metals mining company, engaged in mining gold, silver, and base metals.

Compañia de Minas Buenaventura S.A.A. (NYSE: BVN; Lima: BUE.LM) has appointed Mr. Raul Benavides to its board of directors, effective immediately. He replaces Dr. José Miguel Morales Dasso, who retired after reaching the maximum age limit for board members. Mr. Benavides brings 40 years of experience with the company, previously serving as Vice President of Business Development. The Chairman, Mr. Roque Benavides, expressed confidence in Raul’s ability to enhance profitability and shareholder value while acknowledging Dr. Morales’ significant contributions during his 50 years of service.

Compañia de Minas Buenaventura S.A.A. (NYSE: BVN; Lima Stock Exchange: BUE.LM) announced the retirement of Mr. Raul Benavides, Vice President of Business Development, after 40 years at the Company. Mr. Benavides significantly contributed to the growth of Buenaventura, including the initiation of operations at major mines such as Yanacocha and Coimolache. He held the VP position since 2011 and previously managed business development and mining operations. Buenaventura remains Peru's largest publicly traded precious metals mining company with extensive mining rights and operations.

Compañía de Minas Buenaventura S.A.A. (NYSE: BVN) reported strong 3Q20 results, with EBITDA from direct operations at US$ 68.5 million, up from US$ 26.5 million in 2Q20. Adjusted EBITDA rose to US$ 183.9 million, a 9% increase from 3Q19. Net income surged to US$ 24.4 million compared to US$ 4.5 million in 3Q19. Despite a 1% decline in total revenues to US$ 228.2 million, the company maintained a robust cash position of US$ 265 million. Notably, Buenaventura refinanced a US$ 113 million leasing payment, extending its maturity by 18 months.

Compañia de Minas Buenaventura S.A.A. (NYSE: BVN) reported its 3Q20 production results, revealing a recovery in operations across most mines post-COVID. Key highlights include gold production of 16,108 ounces in September, with total gold output reaching 47,778 ounces for 9M20. Silver production stood at 395,913 ounces for September, totaling 1,191,454 ounces for the year. The company plans to enhance transparency by releasing monthly production data moving forward. Despite operational adjustments due to COVID-19, most mines have returned to pre-pandemic levels, except Uchucchacua, which continues to face workforce challenges.

Compañía de Minas Buenaventura S.A.A. (NYSE: BVN) will hold its Third Quarter 2020 earnings conference call on October 30, 2020, at 10:00 AM ET. This call will provide insights on the company's financial and operational performance, with results released on October 29, 2020, after market close. Key executives, including CEO Leandro García Raggio, will participate. Buenaventura is Peru’s largest publicly traded precious and base metals company, involved in mining operations across several key sites.