One Fund Cut $3 Million From a Precious Metals Winner Amid a Staggering 150% Stock Surge

• London-based Oldfield Partners sold 116,819 shares of BVN stock in the fourth quarter worth an estimated $2.92 million.

• Meanwhile, the position value decreased by $2.67 million at quarter-end, reflecting stock sales and price changes.

• The fund currently holds 49,120 shares worth $1.37 million.

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On Friday, London-based Oldfield Partners reported selling 116,819 shares Minas Buenaventura SAA Company (NYSE: BVN)with an estimated transaction value of $2.92 million based on quarterly average pricing.

Oldfield Partners reduced its holdings in Compañía de Minas Buenaventura SAA by 116,819 shares, according to an SEC filing released Friday. The transaction value is expected to be $2.92 million, based on the quarter’s average closing price. The fund’s quarter-end position value fell by $2.67 million, a change that included the impact of trading and market prices.

The sale reduces BVN’s stake to 0.39% of Oldfield 13F’s AUM.

Main holdings after filing:

• NYSE: November: $78.86 million (22.4% of AUM)

• NYSE: LEA: $73.84 million (20.9% of AUM)

• NYSE: DIS: $57.35 million (16.3% of AUM)

• NYSE: CB: $55.09 million (15.6% of AUM)

• NYSE: ARW: $40.39 million (11.5% of AUM)

As of Thursday, BVN shares were trading at $31.21, up 154% over the past year, far outpacing the S&P 500’s roughly 18% gain over the same period.

• Compañía de Minas Buenaventura produces and sells gold, silver, lead, zinc, copper and related by-products, and is also engaged in manganese sulfate and hydroelectric power generation.

• The company operates a diversified mining portfolio across multiple locations in Peru and generates revenue primarily from the mining and sale of precious and base metals.

• The company serves industrial customers in the metals and mining industries.

Compañía de Minas Buenaventura SAA is a leading Peruvian mining company with an extensive portfolio of precious and base metal assets. The company leverages its extensive footprint and expertise in mineral extraction to maintain a competitive position in the Latin American mining industry. Strategic diversification into multiple metals and integrated energy production supports resilient performance and long-term growth potential.

The move highlights how to manage the proceeds once a paper has paid off. After a share price reaches triple-digit gains, underweighting of a stock is often done not out of suspicion, but out of considerations of size, risk and the next marginal gain.

At the same time, Buena Vista’s fundamentals help explain why profits can be reaped. In the third quarter, revenue increased 30% year-on-year to US$431 million, and direct operating EBITDA increased 48% to US$202 million. The balance sheet is also significantly strengthened, with cash of $486 million, net debt of $225 million, and leverage at a conservative 0.41x. The board of directors also approved a dividend of $0.1446 per share.

Even before the sale, the position was small, now less than 0.4% of assets. Instead, capital is focused on more compelling names like NOV, Lear, Disney and Chubb. This structure suggests this was never a core bet, but it offers some meaningful benefits.

13F Reportable AUM: Institutional investment managers must disclose assets under management in quarterly SEC Form 13F filings.
End of season position: The number of shares or value of the holding at the end of the financial quarter.
Trading and Market Price Impact: Changes in the value of a Fund’s positions due to buying/selling and market price fluctuations.
Highest shareholding: The largest investments in a fund’s portfolio, ranked by value or percentage of assets.
Outperforms the S&P 500: Achieve returns above those of the S&P 500 over a specific period of time.
Precious and base metals: Precious metals are rare and valuable (such as gold, silver); base metals are common industrial uses (such as copper, zinc).
Operational footprint: The scope and size of a corporate entity’s operations, including locations and facilities.
Strategic Diversification: Invest in a range of assets or sectors to reduce risk and increase stability.
Integrated energy production: Producing energy (such as hydroelectric power) within a company’s own operations to support its activities.
Industrial customers: A business that purchases raw materials or products for use in a manufacturing or production process.
time: The 12-month period ending with the latest quarterly report.

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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool owns and recommends The Walt Disney Company. The Motley Fool has a disclosure policy.

One Fund Cuts $3M From Precious Metals Winners Amid Stocks Surge 150% Originally Posted by Motley Fool