Buenaventura price target raised to $13 from $12.50 at Scotiabank

Scotiabank raised the firm’s price target on Buenaventura to $13 from $12.50 and keeps an Underperform rating on the shares. In 2024, the focus will be on the ramp up at Uchucchacua and Yumpag; construction at San Gabriel; and appropriate cash flow management, the analyst tells investors. The firm maintains its rating, noting it expects the company to have update costs for San Gabriel that will likely be higher than last reported guidance.