Compania de Minas Buenaventura SAA BVN

MaterialsMetals & MiningPeru

Last close 26.85 USD on Nov 2, 2026, −0.5% year to date

Quant rating

Quant rating A Rank 8 of 220 in Materials

Growth A 19 of 220
Valuation A 21 of 220
Quality A 6 of 220
Revisions A 27 of 220
Momentum C 102 of 220

Wall Street consensus Buy (2.40)Average target 38.04 USD +41.7%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 7.9B
Enterprise value: 7.8B
52-week range: 21.09 – 44.46
3-year range: 8.19 – 44.46
Dividend yield: 3.75%
Beta (5 years): 0.38
Shares outstanding: 276M
Next earnings: Aug 14, 2026

About the company

Compania de Minas Buenaventura SAA is a Peru-based company primarily engaged in the mining industry. The Company and its subsidiaries focus on the exploration, extraction, concentration, smelting, and commercialization of polymetallic minerals and metals. Their key product is monohydrate manganese sulphate, which is a mineral compound. The Company's segments include: Production and sale of minerals; Construction, development and exploration of projects; Generation and transmission of energy; Insurance brokerage; Leasing of mining concessions; Investments in shares; and Industrial activities. The Company operates the Orcopampa, Uchucchacua, Julcani, and Tambomayo mines. Additionally, the Company owns interests in various mines and operates hydroelectric power plants.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	1,732	1,155	824	825	900	–
Revenue growth	50.0%	40.1%	−0.1%	−8.4%	33.1%	20.7%
EPS (basic, normalized)	3.08	1.59	0.08	2.37	−1.04	–
EPS growth	93.7%	1,887.5%	−96.6%	–	–	–
Gross margin	44.2%	29.7%	9.8%	6.3%	8.8%	19.8%
Net margin	45.7%	35.0%	3.2%	15.0%	13.7%	22.5%
ROE	21.2%	12.6%	0.9%	4.6%	4.9%	8.9%

Balance sheet, last quarter
Cash & short-term investments (mil)	1,001
Current ratio	2.76x
Long-term debt (mil)	684
Net debt (mil)	−65.9
Total equity (mil)	4,569
Net debt / equity	−0.01x
Net debt / EBITDA	−0.05x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	1,732	+50.0%	4.5x	1,393	+110.5%	5.6x	3.08	+93.7%	8.7x
2026	2,264	+30.7%	3.4x	1,453	+4.4%	5.4x	4.18	+35.7%	6.4x
2027	2,332	+3.0%	3.3x	1,579	+8.7%	4.9x	4.37	+4.6%	6.1x
2028	2,248	−3.6%	3.5x	1,420	−10.1%	5.5x	4.07	−6.8%	6.6x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	2,264	−1.6%	−2.5%	+0.3%	4.18	−0.8%	−9.1%	−5.2%
2027	2,332	+6.0%	+10.9%	+13.7%	4.37	+8.2%	+1.8%	+9.8%
2028	2,248	+4.1%	+9.5%	+6.5%	4.07	+9.6%	+3.0%	+6.8%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales reported (mil)	254	247	277	186	300	308	369	431	623	625
Sales mean (mil)	201	243	277	297	296	258	338	356	452	638
Surprise	+26.0%	+1.5%	0.0%	−37.5%	+1.1%	+19.4%	+9.2%	+21.2%	+38.0%	−2.1%
EPS reported	−0.04	0.24	0.28	0.93	0.13	0.58	0.40	0.71	1.51	1.32
EPS mean	0.15	0.14	0.35	0.23	0.21	0.27	0.34	0.40	0.67	1.26
Surprise	−126.0%	+67.0%	−21.1%	+298.0%	−37.2%	+115.2%	+17.0%	+78.8%	+124.4%	+4.3%

Peer comparison Metals & Mining

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
BVN Compania de Minas Buenaventura SAA	7.9B	−0.05x	45.7%	–	6.4x	6.1x	5.4x	4.9x
GMEXICOB Grupo Mexico SAB de CV	92.6B	0.37x	27.1%	3.52x	13.6x	13.3x	7.2x	7.2x
SCCO Southern Copper Corp	151.4B	0.00x	32.3%	11.74x	22.5x	23.8x	13.4x	13.9x
NEM Newmont Corporation	113.4B	−0.23x	31.3%	3.19x	11.9x	10.9x	6.5x	6.3x
FCX Freeport-McMoRan Inc	88.2B	1.93x	8.5%	4.31x	19.5x	14.4x	8.4x	6.0x
VALE Vale S.A.	50.6B	0.91x	6.5%	–	7.0x	7.0x	4.2x	4.2x
Mean		0.49x	25.2%	5.69x	13.5x	12.6x	7.5x	7.1x
Median		0.19x	29.2%	3.91x	12.7x	12.1x	6.9x	6.1x

Technical analysis

1M−14.5%
3M−11.3%
1Y+22.3%
3Y+248.3%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Compania de Minas Buenaventura SAA, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	1,732	1,155	824	825	900	677
Cost of revenue	966	812	743	773	821	658
Gross profit	765	343	80.9	51.6	79.6	18.7
Selling, general & administrative expenses	97.5	85.5	86.9	88.9	89.0	86.0
Research & development	6.5	4.5	2.8	3.6	2.9	2.9
Depreciation/amortization	2.4	2.4	2.0	–	–	–
Interest expense (income), operating	−1.1	−205	–	–	–	–
Unusual expense (income)	2.9	9.0	0	−19.9	21.7	9.6
Other operating expenses	23.9	3.0	−31.9	18.0	31.9	1.5
Operating income	633	444	21.1	−39.0	−66.0	−81.3
Net interest income (expense)	345	138	73.7	169	173	−42.1
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−10.9	−8.3	−12.3	−5.3	−5.8	−6.9
Net income before taxes	967	573	82.5	124	101	−130
Provision for taxes	128	156	43.0	0	−23.7	25.4
Minority interest	−48.0	−13.6	−12.8	−0.4	−1.3	14.6
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	791	404	26.7	124	124	−141
Extraordinary items	−8.9	−1.0	−6.8	479	−388	5.4
Net income	782	403	19.9	603	−264	−136
EBIT, normalized	635	247	21.1	−58.9	−44.3	−71.7
EBITDA, normalized	770	405	209	118	143	118
Basic EPS, normalized	3.08	1.59	0.08	2.37	−1.04	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Compania de Minas Buenaventura SAA, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	530	478	220	254	377	235
Receivables	533	261	255	250	256	251
Total inventory	75.7	79.6	76.5	88.3	86.3	77.3
Prepaid expenses	17.9	19.5	26.0	19.3	20.4	25.7
Other current assets	0	0	0	8.8	0	0
Total current assets	1,157	838	578	620	740	589
Property, plant & equipment	2,314	1,890	1,600	1,535	946	1,077
Goodwill	–	–	–	–	–	–
Intangibles	–	–	–	–	592	574
Long-term investments	1,738	1,548	1,527	1,521	1,422	1,489
Note receivable	648	600	615	674	636	102
Other long-term assets	165	172	214	153	226	149
Total assets	6,023	5,048	4,534	4,503	4,562	3,980
Liabilities
Accounts payable	457	367	294	181	191	149
Payable/accrued	–	–	–	–	–	–
Accrued expenses	–	–	–	–	–	–
Short-term debt	0	0	0	0	50.0	65.8
Current portion of long-term debt	8.9	9.2	34.2	35.1	179	25.1
Other current liabilities	110	103	114	163	425	120
Total current liabilities	576	480	442	380	845	360
Long-term debt	701	618	672	703	879	507
Minority interest	206	169	163	154	170	172
Other liabilities	479	391	251	257	300	313
Total liabilities	1,961	1,657	1,527	1,494	2,193	1,352
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	751	751	751	751	751	751
Additional paid-in capital	218	218	218	218	218	218
Retained earnings (accumulated deficit)	3,092	2,421	2,037	2,037	1,403	1,667
Treasury stock	–	–	–	–	–	–
Other equity	−0.1	−0.1	−0.1	2.2	−4.5	−9.5
Total equity	4,062	3,391	3,006	3,009	2,368	2,627
Total liabilities & shareholders' equity	6,023	5,048	4,534	4,503	4,562	3,980

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Compania de Minas Buenaventura SAA, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	–	–	–	–	–	–
Depreciation, depletion & amortization	–	–	–	–	–	–
Deferred taxes	–	–	–	–	–	–
Non-cash items	–	–	–	–	–	–
Changes in working capital	−64.5	−44.7	−7.0	−60.4	−533	−150
Cash from operations	577	486	227	41.7	−198	123
Investing activities
Capital expenditures	−473	−338	−239	−152	−90.3	−71.5
Other investing cash flows	−4.7	220	33.1	358	4.0	9.3
Cash from investing	−478	−118	−206	206	−86.3	−62.2
Financing activities
Financing cash flow items	−11.5	−7.3	−1.6	25.7	−40.6	−7.1
Cash dividends paid	−111	−18.4	−18.5	−18.5	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	74.2	−83.7	−35.5	−378	466	−28.2
Cash from financing	−48.2	−109	−55.7	−370	425	−35.3
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	51.4	259	−34.1	−123	142	25.4
Free cash flow	104	148	−11.6	−110	−288	51.3

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.