Silver jumped 28% in Q3, pushing Buenaventura shares 9% higher. Gold also gained, though copper and zinc output slipped.
Alpha Score of 62 reflects moderate overall profile with strong momentum, moderate value, weak quality. Based on 3 of 4 signals – score is capped at 90 until remaining data ingests.
Buenaventura Mining's shares gained ground Tuesday after the company reported a sharp rise in silver production for the third quarter, even as copper output fell. The Peruvian miner produced 3.2 million ounces of silver in the period, up 28% from a year earlier. Gold output also increased, rising 11% to 156,700 ounces. The gains came from higher grades at the Uchucchacua and Tantahuatay mines, the company said.
Copper production slipped. The company reported 10,000 tonnes, down 13% from the same quarter last year. Buenaventura cited lower ore grades at the Cerro Verde mine, in which it holds a 19.6% stake. Freeport-McMoRan operates the site.
Zinc output also fell, dropping 30% to 9,600 tonnes. Lead slipped 7% to 5,100 tonnes.
The company reaffirmed its full-year production guidance. It expects gold output of 565,000 to 615,000 ounces and silver output of 14.5 million to 16.5 million ounces. Copper guidance remained at 40,000 to 50,000 tonnes.
Shares closed 9% higher in New York on Tuesday. Buenaventura has gained about 13% this year. The company is categorized as Basic Materials but carries no Alpha Score. Its stock page is available here.
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