macro

Buenaventura posts 27% revenue rise in Q3 and lifts gold recovery at San Gabriel

Buenaventura Q3 2026: revenue $545M, free cash flow $242M, negative net debt, and $25–30M capex planned for 2027 as it moves to owner-run fleets.

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what happened

According to TradingView, Buenaventura (BVN) reported third-quarter 2026 revenue of $545M, up 27% year on year. EBITDA rose 34% to $261M, and net income reached $268M, up 50%. Free cash flow came in at $242M, cash was about $1B, net cash stood at $307M, and leverage was -0.25x.

At San Gabriel, output is constrained by tailings, with the plant running at roughly 1,400–1,700 tonnes per day. Gold recovery was about 60% in October and is expected to climb to 65–70% by December. The company targets about 600k tonnes in 2027 and 800k tonnes in 2028.

Buenaventura is also moving to owner-operated fleets. Yumpag is now fully company-controlled with about 75% of equipment bought, and El Brocal is set to become a 100% underground operation run by the company by Q2 2027. Capex for 2027 is put at $25–30M.

why it matters

For miners, revenue and cash flow growth alongside cost control are the key measures. Bringing equipment in-house could reduce reliance on contractors, but the benefit depends on delivering the metal recovery and output targets. The news concerns one company and does not set a broader direction for metals markets.

market impact

BVN: strong quarterly results and rising output support interest in the stock

tags

instruments

BVNgold

sources

  1. Key facts: BVN Q3 +27%; San Gabriel ~60% recovery; Owner-run; $25–30M capex — TradingView, 31 October 2026 at 07:00 UTC

prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.

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