Compania de Minas Buenaventura SA ADR (BVN) is undervalued and McEwen Inc (MUX) is overvalued.
Against our estimates of intrinsic value, BVN trades at the wider discount: a margin of safety of +65%, against -259% for MUX.
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
A 1.5x revenue multiple, discounted for its losses, values the shares at $5.60; the price of $20.09 is 259% above that value.
Leak Score 27/100 on 3 of 12 signals
| Metric | BVN | MUX |
|---|---|---|
| Verdict | Undervalued | Overvalued |
| Price | $34.70 | $20.09 |
| Intrinsic value | $99.09 | $5.60 |
| Margin of safety | +65% | -259% |
| Leak Score | 100/100 (3/12) | 27/100 (3/12) |
| Market cap | $8.8B | $1.2B |
| Revenue growth, 5 years | 20.7% | 13.5% |
| Operating margin | 44.4% | -2.7% |
| Net margin | 50.9% | 32.5% |
| Return on equity | 28.8% | 13.5% |
| Debt to equity | 0.16 | 0.18 |
| P/E | 7.8x | 17.2x |
| Forward P/E | 8.7x | 8.6x |
| P/B | 2.0x | 1.7x |
| Dividend yield | 2.9% | — |