Compania de Minas Buenaventura SA ADR (BVN) is undervalued and Hecla Mining Co (HL) is slightly overvalued.
Against our estimates of intrinsic value, BVN trades at the wider discount: a margin of safety of +65%, against -14% for HL.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 7.6% (average of 3 methods) values the shares at $99.09; the price of $34.70 is 65% below that value, and 82% of that value comes from beyond year five.
Leak Score 100/100 on 3 of 12 signals
Discounting its cash flows at 11.3% (average of 3 methods) values the shares at $16.65; the price of $19.03 is 14% above that value, and 70% of that value comes from beyond year five.
Leak Score 59/100 on 3 of 12 signals
| Metric | BVN | HL |
|---|---|---|
| Verdict | Undervalued | Slightly overvalued |
| Price | $34.70 | $19.03 |
| Intrinsic value | $99.09 | $16.65 |
| Margin of safety | +65% | -14% |
| Leak Score | 100/100 (3/12) | 59/100 (3/12) |
| Market cap | $8.8B | $12.8B |
| Revenue growth, 5 years | 20.7% | 15.0% |
| Operating margin | 44.4% | 47.2% |
| Net margin | 50.9% | 32.8% |
| Return on equity | 28.8% | 20.8% |
| Debt to equity | 0.16 | 0.01 |
| P/E | 7.8x | 24.4x |
| Forward P/E | 8.7x | 18.4x |
| P/B | 2.0x | 4.8x |
| Dividend yield | 2.9% | 0.1% |