Peru To Support Copper Expansion, Targets 4 Million Tons Of Annual Production
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
Peru's Copper Production Plans:
- Peru aims to increase copper production to 4 million tons annually.
- Expansion of Cerro Verde mine and other projects are key to this goal.
Ministry of Energy and Mines Strategy:
- Focus on sustainable mining projects to support the economy.
- Generates resources for infrastructure and quality of life improvements.
Key Projects in Peru:
- Cerro Verde mine expansion, Newmont's Conga and Galeno, Rio Tinto's La Granja, and more.
- Expected to elevate Peru's copper production to rival Chile's output levels.
China's Presence and Challenges:
- China involved in Las Bambas project aiming for full production capacity.
- Facing challenges from community protests.
Copper Market Dynamics:
- Recent setbacks in the mining sector highlight undersupply issues.
- Importance of increasing production to meet rising demand emphasized.
Analyst Views on BVN
Wall Street analysts forecast BVN stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for BVN is 25.50 USD with a low forecast of 24.00 USD and a high forecast of 27.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
0 Buy
2 Hold
0 Sell
Hold
Current: 36.510
Low
24.00
Averages
25.50
High
27.00
Current: 36.510
Low
24.00
Averages
25.50
High
27.00
About BVN
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.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
