Citigroup Discloses 5.0% Stake in Buenaventura Mining (BVN)

TL;DR

**Citigroup just revealed a 5.0% stake in Buenaventura Mining (BVN) as of year-end 2023.**

AI Summary

Citigroup Inc. reported on February 12, 2024, that as of December 31, 2023, it beneficially owned 5.0% of the American Depository Shares (ADS) of Buenaventura Mining Company Inc. (NYSE: BVN). This filing indicates that Citigroup holds a significant, but not controlling, stake in the Peruvian precious metals producer. For investors, this means a major financial institution sees value in Buenaventura, potentially signaling confidence in its future, but also that a large block of shares is held by an institutional investor, which can influence trading dynamics.

Why It Matters

This filing shows a major financial institution, Citigroup, has a notable stake in Buenaventura, which can be seen as a vote of confidence and may influence other institutional investors.

Risk Assessment

Risk Level: low — This filing indicates a significant institutional holding, which generally adds stability rather than risk to a stock.

Analyst Insight

Investors should note Citigroup's 5.0% stake as a potential indicator of institutional interest, but further research into Buenaventura's fundamentals and Citigroup's investment strategy is warranted before making investment decisions.

Key Numbers

• 5.0% — Beneficial Ownership (Percentage of Buenaventura Mining's American Depository Shares owned by Citigroup Inc.)

Key Players & Entities

• Citigroup Inc. (company) — the entity filing the SC 13G, reporting beneficial ownership
• Buenaventura Mining Company Inc. (company) — the issuer whose securities are being reported
• 5.0% (dollar_amount) — the percentage of American Depository Shares beneficially owned by Citigroup
• December 31, 2023 (date) — the date of the event requiring the filing
• February 12, 2024 (date) — the filing date of the SC 13G

Forward-Looking Statements

• Citigroup will maintain its stake in Buenaventura Mining for the foreseeable future. (Citigroup Inc.) — medium confidence, target: December 31, 2024

FAQ

Filing Documents

• schedule_13g_-_buenavent.htm (SC 13G) — 323KB
• 0000950170-24-013590.txt ( ) — 325KB

(a)

Item 1(a). Name of Issuer: Compania de Minas Buenaventura S.A.A. (Buenaventura Mining Company Inc.)

(b)

Item 1(b). Address of Issuer's Principal Executive Offices: Las Begonias 415 Floor 19 San Isidro, Lima 27, Peru

(a)

Item 2(a). Name of Person Filing: Citigroup Global Markets Inc. (CGM) Citigroup Financial Products Inc. (CFP) Citigroup Global Markets Holdings Inc. (CGM Holdings) Citigroup Inc. (Citigroup)

(b)

Item 2(b). Address of Principal Business Office or, if none, Residence: The address of the principal business office of each of CGM, CFP, CGM Holdings and Citigroup is: 388 Greenwich Street New York, NY 10013

(c)

Item 2(c). Citizenship: CGM and CGM Holdings are New York corporations. CFP and Citigroup are Delaware corporations.

(d)

Item 2(d). Title of Class of Securities: American Depository Shares

(e)

Item 2(e). CUSIP Number: 204448-10-4 Page 6 of 9 Pages Item 3. If This Statement Is Filed Pursuant to Sections 240.13d-1(b) or 240.13d-2(b) or (c), Check Whether the Person Filing Is a(n): (a) Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o); (b) Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c); (c) Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c); (d) Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) Investment adviser in accordance with Section 240.13d-1(b)(1)(ii)(E); (f) Employee benefit plan or endowment fund in accordance with Section 240.13d-1(b)(1)(ii)(F); (g) Parent holding company or control person in accordance with Section 240.13d-1(b)(1)(ii)(G); (h) Savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) Church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) A non-U.S. institution in accordance with Section 240.13d-1(b)(1)(ii)(J); (k) Group, in accordance with Section 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Section 240.13d-1(b)(1)(ii)(J), please specify the type of institution: ____________________________ . Item 4. (a) Amount beneficially owned: See item 9 of cover pages (b) Percent of class: See item 11 of cover pages (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: (ii) Shared power to vote or to direct the vote: (iii) Sole power to dispose or to direct the disposition of: (iv) Shared power to dispose or to direct the disposition of: See Items 5-8 of cover pages Page 7 of 9 Pages Item 5. If this statement is being file

View Full Filing

View this SC 13G filing on SEC EDGAR