Comments: BVN has broken out of a 1.5 year trading range on nice accumulation. I'd be a buyer on any pullback, such as the one that we are getting right now. BVN is an equity partner at the Yanacocha mine in Peru and operates 4 other smaller mines as well. Yanacocha, operated by Newmont, is one of the two biggest gold mines in the world. The main complaint against BVN has generally been that it has been a partial gold hedger. However, on March 9, BVN announced that it had bought back 25% of its hedge book, which apparently helped to spark the current rally.Thursday, April 19, 2007
Update: Compania de Minas Buenaventura SA (BVN)
Comments: BVN has broken out of a 1.5 year trading range on nice accumulation. I'd be a buyer on any pullback, such as the one that we are getting right now. BVN is an equity partner at the Yanacocha mine in Peru and operates 4 other smaller mines as well. Yanacocha, operated by Newmont, is one of the two biggest gold mines in the world. The main complaint against BVN has generally been that it has been a partial gold hedger. However, on March 9, BVN announced that it had bought back 25% of its hedge book, which apparently helped to spark the current rally.
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