Buenaventura Announces Fourth Quarter and Full Year 2025 Results
MWN-AI** Summary
Compañía de Minas Buenaventura S.A.A. (NYSE: BVN), Peru's largest publicly traded precious metals mining company, reported strong results for the fourth quarter and full year of 2025. The company's consolidated silver production in 4Q25 increased by 2% year-over-year (YoY), primarily due to higher output from the Tambomayo mine. Additionally, lead and zinc production surged by 58% and 43% YoY, respectively, while gold production fell by 11% YoY primarily due to decreased output at Tambomayo.
Financially, Buenaventura demonstrated significant growth, with 4Q25 EBITDA from direct operations soaring to US$ 353.5 million, a considerable increase from US$ 93.4 million in 4Q24. For the entire year, FY25 EBITDA reached US$ 811.9 million, compared to US$ 431.2 million in FY24. The 4Q25 net income also saw a dramatic rise to US$ 383.6 million from US$ 33.6 million in 4Q24, while FY25 net income amounted to US$ 782.1 million versus US$ 402.7 million in FY24.
The company invested US$ 153.4 million in capital expenditures related to the San Gabriel mine and reported a solid cash position of US$ 529.8 million, with net debt at US$ 179.8 million, resulting in a low leverage ratio of 0.22x. Buenaventura's Board has proposed a dividend of US$ 0.9904 per share/ADS.
The fourth quarter and full-year results reflect Buenaventura's operational resilience and improved financial performance, setting a positive tone for the future as it continues to capitalize on its mining operations and production capabilities.
MWN-AI** Analysis
Compañía de Minas Buenaventura S.A.A. (NYSE: BVN) recently reported its fourth quarter and full year 2025 results, revealing a robust performance across various dimensions of its operations. The solid growth in diversified metal production and marked improvements in financial metrics signal significant potential for investors.
In 4Q25, Buenaventura achieved a 108% increase in revenue compared to the previous year, reaching $623.4 million, driven predominantly by a 279% surge in EBITDA from direct operations. The company’s sharp increase in net income—from $33.6 million in 4Q24 to $383.6 million in 4Q25—illustrates a successful year, underlining their operational strengths despite a minor setback in gold production.
The substantial cash position of $529.8 million and a low leverage ratio of 0.22x provide a strong financial buffer, enabling Buenaventura to pursue further capital investments without stretching its balance sheet. The proposed dividend payment of $0.9904 per share also reflects a commitment to returning value to shareholders amidst this strong performance.
For investors, the mixed production findings—specifically the 11% decrease in gold production juxtaposed with substantial increases in silver, lead, and zinc—highlight the need for careful monitoring of production efficiencies and commodity prices. Given the anticipated volatility in metal markets, particularly for gold, diversifying into other metals where Buenaventura shows production strength could be a prudent strategy.
As Buenaventura plans to leverage its cash reserves for additional growth opportunities, particularly with ongoing investments in its San Gabriel project, investors should consider the potential for future capital appreciation. Overall, Buenaventura presents a compelling investment opportunity, particularly for those looking to capitalize on the cyclical nature of mining and metal production in a stable economic environment.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Compañia de Minas Buenaventura S.A.A. (“Buenaventura” or “the Company”) (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru’s largest publicly-traded precious metals mining company, today announced results for the fourth quarter (4Q25) and full year (FY25) ended December 31, 2025. All figures have been prepared in accordance with IFRS (International Financial Reporting Standards) on a non-GAAP basis and are stated in U.S. dollars (US$).
Fourth Quarter and Full Year 2025 Highlights:
- Buenaventura's 4Q25 consolidated silver production increased by 2% YoY driven by increased production at Tambomayo. Lead production increased by 58% YoY and zinc production increased by 43% YoY, as mining activities at Uchucchacua remained focused on polymetallic stopes during the quarter. Gold production decreased by 11% YoY due to decreased output primarily at Tambomayo. Copper production was in line with 4Q24 levels.
- 4Q25 EBITDA from direct operations was US$ 353.5 million, compared to US$ 93.4 million reported in 4Q24. FY25 EBITDA from direct operations reached US$ 811.9 million, compared to US$ 431.2 million reported in FY24, which excluded the sale of Chaupiloma Royalty Company.
- 4Q25 net income reached US$ 383.6 million, compared to US$ 33.6 million in the same period of 2024. FY25 net income was US$ 782.1 million, compared to US$ 402.7 million in FY24, which included the sale of the Chaupiloma Royalty Company.
- 4Q25 CAPEX related to San Gabriel totaled US$153.4 million, primarily allocated to the completion of the processing plant construction.
- Buenaventura ended the year with a cash position of US$ 529.8 million, while net debt amounted to US$ 179.8 million, resulting in a leverage ratio of 0.22x.
- On January 29, 2026, subsequent to the quarter’s end, Buenaventura received US $97.9 million in dividends related to its stake in Cerro Verde.
- Buenaventura’s Board of Directors has proposed a dividend payment of US$ 0.9904 per share/ADS.
Financial Highlights (in millions of US$, excluding EPS) :
4Q25 | 4Q24 | Var % | FY25 | FY24 | Var % | |
Total Revenues | 623.4 | 299.6 | 108% | 1,731.6 | 1,154.6 | 50% |
Operating Income | 297.2 | 45.8 | 549% | 633.2 | 445.7 | 42% |
EBITDA Direct Operations (1) | 353.5 | 93.4 | 279% | 811.9 | 431.2 | 88% |
EBITDA Including Affiliates (1) | 555.3 | 185.9 | 199% | 1,392.6 | 850.2 | 64% |
Net Income (2) | 383.6 | 33.6 | 1,041% | 782.1 | 402.7 | 94% |
EPS (3) | 1.51 | 0.13 | 1,041% | 3.08 | 1.59 | 94% |
- Does not include US$ 208.9 million from the sale of Chaupiloma Royalty Company in 3Q24.
- Net Income attributable to owners of the parent.
- As of December 31, 2025, Buenaventura had a weighted average number of shares outstanding of 253,986,867.
For a full version of Compañía de Minas Buenaventura Fourth Quarter 2025 Earnings Release, please visit: https://buenaventura.com/informes-y-reportes
CONFERENCE CALL INFORMATION:
Compañia de Minas Buenaventura will host a conference call on Friday, February 27, 2026, to discuss these results at 10:00 am Eastern Time / 10:00 a.m. Lima Time.
To participate in the conference call, please dial:
Toll-Free US:
+1 844 481 2914
Toll International:
+1 412 317 0697
Passcode:
Please ask to be joined into the Compañía de Minas Buenaventura’s call.
Live Webcast: Click here
If you would prefer to receive a call rather than dial-in, please use the following link 10-15 minutes prior to the conference call start time:
Call Me Link: Click Here
Passcode: 7581884
Participants who do not wish to be interrupted to have their information gathered may have Chorus Call dial out to them by clicking on the above link, filling in the information, and pressing the green phone button at the bottom. The phone number provided will be automatically called and connected to the conference without any interruption to the participant. (Please note: Participants will be joined directly to the conference and will hear hold music until the call begins. No confirmation message will be played when joined.)
Company Description
Compañía de Minas Buenaventura S.A.A. is Peru’s largest, publicly traded precious and base metals company and a major holder of mining rights in Peru. The Company is engaged in the exploration, mining development, processing and commercialization of gold, silver and other base metals through wholly-owned mines and its participation in joint venture projects. Buenaventura currently operates several mines in Peru (Orcopampa*, Uchucchacua*, Julcani*, Tambomayo*, La Zanja*, El Brocal and Coimolache).
The Company owns 19.58% of Sociedad Minera Cerro Verde, a major Peruvian copper producer (a partnership with Freeport-McMorRan Inc. and Sumitomo Corporation).
For a printed version of the Company’s 2024 Form 20-F, please contact the investor relations contacts on page 1 of this report or download the PDF format file from the Company’s web site at www.buenaventura.com .
(*) Operations wholly owned by Buenaventura
Note on Forward-Looking Statements
This press release and related conference call contain, in addition to historical information, forward-looking statements including statements related to the Company’s ability to manage its business and liquidity during and after the COVID-19 pandemic, the impact of the COVID-19 pandemic on the Company’s results of operations, including net revenues, earnings and cash flows, the Company’s ability to reduce costs and capital spending in response to the COVID-19 pandemic if needed, the Company’s balance sheet, liquidity and inventory position throughout and following the COVID-19 pandemic, the Company’s prospects for financial performance, growth and achievement of its long-term growth algorithm following the COVID-19 pandemic, future dividends and share repurchases.
This press release may also contain forward-looking information (as defined in the U.S. Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties, including those concerning the Company’s, Cerro Verde’s costs and expenses, results of exploration, the continued improving efficiency of operations, prevailing market prices of gold, silver, copper and other metals mined, the success of joint ventures, estimates of future explorations, development and production, subsidiaries’ plans for capital expenditures, estimates of reserves and Peruvian political, economic, social and legal developments. These forward-looking statements reflect the Company’s view with respect to the Company’s, Cerro Verde’s future financial performance. Actual results could differ materially from those projected in the forward-looking statements as a result of a variety of factors discussed elsewhere in this Press Release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260226583825/en/
Contacts in Lima:
Daniel Dominguez, Chief Financial Officer
(511) 419 2540
Sebastián Valencia, Head of Investor Relations
(511) 419 2591 / sebastian.valencia@buenaventura.pe
Contact in NY:
Barbara Cano
(646) 452 2334
barbara@inspirgroup.com
Company Website: https://buenaventura.com/en/inversionista/
FAQ**
How did Buenaventura Mining Company Inc. BVN manage to achieve a 108% increase in total revenues during FY25 compared to FY24, and what factors contributed to this significant growth?
What specific strategies did Buenaventura Mining Company Inc. BVN implement to increase silver and lead production by and 58% YoY, respectively, in 4Q25, and how sustainable are these production levels moving forward?
Given Buenaventura Mining Company Inc. BVN's leverage ratio of 0.22x, how does the company plan to utilize its cash position of US$ 529.8 million for future investments and operational expansion?
Can you explain the implications of the proposed dividend payment of US$ 0.9904 per share/ADS by Buenaventura Mining Company Inc. BVN and how it reflects the company's financial health after a substantial net income increase in FY25?
**MWN-AI FAQ is based on asking OpenAI questions about Buenaventura Mining Company Inc. (NYSE: BVN).
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