Buenaventura Cuts San Gabriel Gold Guidance on Processing Constraints
BVN sits 48% above its 52-week low of $21.
Summary
Buenaventura reported Q3 2026 production and sales volumes, with most mines in line with projections but San Gabriel gold output falling short due to lower ore throughput during ramp-up. Processing was constrained for most of the quarter as the first phase of tailings filtration reinforcement was completed, resuming in the final week of September at roughly 1,300 tpd. The company revised its 2026 San Gabriel gold guidance to reflect the updated ramp-up schedule, and also revised Julcani guidance on expected production mix. Realized prices were strong: gold averaged $4,216/oz and silver $57.82/oz in the quarter. The San Gabriel shortfall is the key negative, as it was the growth driver behind Q2's 113% YoY EBITDA jump to $277 million. Additional filtration reinforcement work will proceed one filter at a time over the next six months, with the constraint expected to be resolved in the first half of 2027.
At the time of this announcement, BVN was trading at $31.15 on NYSE in the Manufacturing sector, with a market capitalization of approximately $7.8B. The 52-week trading range was $21.00 to $44.67. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: BusinessWire.