UPDATE: Morgan Stanley Reiterates On Compania de Minas Buenaventura SAA On Mixed 2Q14 Production Numbers

In a report published Monday, Morgan Stanley analyst Carlos De Alba reiterated an Overweight rating on

, but removed the $15.30 price target. In the report, Morgan Stanley noted, “Buenaventura reported 2Q14 output figures and updated its 2014 guidance. The company published for the first time its quarterly production ahead of its earnings report. In 2Q14, gold equity output of 206Koz came in 6% below our model, but silver equity production of 4.1Moz exceeded our estimate by 6%.” Compania de Minas Buenaventura SAA closed on Friday at $11.62.