Dallas, Texas 09/12/2013 (Financialstrend) – Compania de Minas Buenaventura SA (ADR) (NYSE:BVN) has been going through a major rough patch lately. In the recent months there were three things that affected the company very badly. The emerging market-stocks took a major battering. Several gold mining and gold companies were sold off this year and there has also been a sell-off of things connected to China. This country happens to Peru’s 2nd largest trading partner.
Better times round the corner
Emerging Market stocks are not going to be down in the dumps forever. They will eventually rise and shine again and when that happens, BVN is one company that will make a mark. At the present time, less-than 50% of its float is institution-owned. Technically this means that there is a great deal of scope for the inflow of cash.
Though almost all gold stocks have taken a through beating in 2013 so far, some have also managed to bounce back a bit and to a certain degree, BVN has been one of them. Once the pessimism over the gold stock abates, the company’s stock price will head northwards. Very recently, China has shown some stronger-than-expected numbers and numerous ETF’s and China stocks are looking a little stronger now. Once investors start looking at China in a slightly brighter light, Emerging Market stocks that depend on their trade with the country will also breathe easy.
In Wednesday’s trading Compania de Minas Buenaventura SA (ADR) (NYSE:BVN) stock rose by 0.08%. The opening price of the shares was $12.33 which climbed to an intraday high of $12.45 and closed at $12.24. Approximately 2.01 million BVN shares were traded on Wednesday while the average volume of the company’s shares traded over 30 days was 1.93 million.
The Peruvian diversified mining company, Compania de Minas Buenaventura SA (ADR) (NYSE:BVN) is involved in mining and exploration activities of gold, silver, lead, copper and lead.