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REAL-TIME GLOBAL RESEARCH

Risk Reward Update

Published: 2026-08-19Institution: Morgan StanleyCompany / ticker: BVN.NPages: 9Original language: English

Research evidence excerpt

Not for redistribution without written consent of Morgan Stanley

M

Update

August 19, 2026 03:59 AM GMT

Compania de Minas Buenaventura S.A. | Latin

America

Morgan Stanley & Co. LLC

Carlos De Alba

Equity Analyst

Risk Reward Update

Compania de Minas Buenaventura S.A. (BVN.N, BVN UN)

Latin America Metals & Mining | Peru

What’s Changed

Compania de Minas Buenaventura S.A. (BVN.N)

From

To

Price Target

US$34.50

US$33.00

Bull Case

US$52.00

US$51.00

Stock Rating

Industry View

Price target

Shr price, close (Aug 17, 2026)

52-Week Range

Base Case

US$34.50

US$33.00

Fiscal Year Ending

Bear Case

US$19.00

US$18.00

Updated Components

EPS (US$)**

Prior EPS (US$)**

Overweight

No Rating

US$33.00

US$33.96

US$44.46-18.01

12/25 12/26e 12/27e 12/28e

3.11

4.06

4.33

3.68

4.03

3.40

3.72

EPS

Bull Base Bear Scenarios

Unless otherwise noted, all metrics are based on Morgan Stanley ModelWare

framework

** = Based on consensus methodology

e = Morgan Stanley Research estimates

Risk Reward for Compania de Minas Buenaventura S.A. (BVN.N)

has been updated

Reason for change

We are updating our estimates after 2Q26 results.

Morgan Stanley does and seeks to do business with

companies covered in Morgan Stanley Research. As a result,

investors should be aware that the firm may have a conflict of

interest that could affect the objectivity of Morgan Stanley

Research. Investors should consider Morgan Stanley

Research as only a single factor in making their investment

decision.

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