Could Compañía de Minas Buenaventura S.A.A. (BVN) Go Up? The Stock Formed Multiple Top Pattern

March 18, 2018 - By Peter Erickson

The stock of Compañía de Minas Buenaventura S.A.A. (BVN) shows a multiple tops pattern with $15.09 target or 5.00 % above today’s $14.37 share price. The 9 months chart pattern indicates low risk for the $3.65 billion company. It was reported on Mar, 18 by Finviz.com. If the $15.09 price target is reached, the company will be worth $182.50M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 1.71% or $0.25 during the last trading session, reaching $14.37. About 4.49 million shares traded or 235.47% up from the average. Compañía de Minas Buenaventura S.A.A. (NYSE:BVN) has risen 23.87% since March 18, 2017 and is uptrending. It has outperformed by 7.17% the S&P500.

Compañía de Minas Buenaventura S.A.A. (NYSE:BVN) Ratings Coverage

Among 4 analysts covering Compania de Minas Buenaventura SA (NYSE:BVN), 2 have Buy rating, 0 Sell and 2 Hold. Therefore 50% are positive. Compania de Minas Buenaventura SA has $10.50 highest and $7.50 lowest target. $8.35’s average target is -41.89% below currents $14.37 stock price. Compania de Minas Buenaventura SA had 12 analyst reports since August 4, 2015 according to SRatingsIntel. The company was downgraded on Wednesday, April 13 by HSBC. On Friday, July 28 the stock rating was maintained by Credit Suisse with “Hold”. The firm earned “Buy” rating on Tuesday, June 28 by Bank of America. The stock has “Buy” rating by HSBC on Friday, May 6. The company was downgraded on Friday, April 15 by Morgan Stanley. The rating was downgraded by Credit Suisse to “Neutral” on Monday, September 21. The firm has “Buy” rating by HSBC given on Tuesday, December 13. The stock has “Hold” rating by Zacks on Friday, August 7.

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