The ResearchTeam has downgraded its rating on Compania de Minas Buenaventura SAA (BVN) from Hold to Reduce. The rating is based on an analysis of ratings from multiple research providers compiled by the ResearchTeam. Over the past 19 months, the ResearchTeam has correctly predicted the direction of BVN's stock price based on its ratings only 38.5% of the time. BVN's stock price is down 2.6% in the 24 days since the ResearchTeam issued its current Reduce rating.

1. Compania de Minas Buenaventura
SAA, US BVN NYSE Report created on 8/27/12
Current Rating Last Close Price Rating Reiterated on 8/27/12 Rating Accuracy
Overview $34.21 REDUCE Rating History & Rating Accuracy ?
38.5%
About the Current Rating This team has changed its rating for BVN 13 times over the past 19 months. The direction for each team rating was correct for 5 of the 13 ratings at
the end of each rating period, resulting in a rating accuracy of 38.5% and a TTM rating accuracy of 33.3%.
Downgraded 24 Days -2.6%
Accumulate
Accumulate
Reduce
Reduce
Reduce
Reduce
Hold
Hold
Hold
Hold
at Current % Change since
Ratings
from Hold
Rating Current Rating Issued
Team Member's Rating Information CORRECT RATINGS
Accuracy
Rating Upgrade/ Rating
Date Downgrade Rating Reiterated INCORRECT RATINGS
Ford Equity Research 5/23/12 Hold 8/22/12
Jaywalk 6/08/12 Hold 8/23/12 $50
The Street.com 8/20/09 Buy 8/26/12
Market Edge 8/03/12 Avoid 8/24/12
ResearchTeam 8/03/12 Reduce 8/27/12
45
S&P 500 TR
40
ResearchTeam Rating Performance (%) ?
Performance of the 10%
ResearchTeam rating
is calculated as if this 35
stock was purchased 0
when the team had BVN
an Accumulate or 1 2 3 4 5 6 78 9 10 11 12 $34.21
13
Hold rating, and sold -10
FEB APR JUL OCT JAN APR JUL
short when the team 2011 2012
had a Reduce rating. -20
BVN Over Rating Period
Upgrade or Price ($) on # of Days at Rating Total % Change Underperform/
-30 Date of Rating Rating Downgrade Rating Date This Rating Accuracy Return in Benchmark Outperform Index
13 8/03/12 Reduce 35.12 24 Correct -2.6 1.4 Underperform
-40 12 7/30/12 Hold 36.42 4 Incorrect -3.6 1.1 Underperform
Since 11 6/25/12 Reduce 38.02 35 Correct -4.2 4.7 Underperform
1 Month 3 Month 1 Year 1/1/2008 10 6/11/12 Hold 40.98 14 Incorrect -7.2 -0.2 Underperform
ResearchTeam for BVN -1.8 -9.4 -34.3 -- 9 5/21/12 Reduce 36.93 21 Incorrect 11.0 0.7 Outperform
Accumulate Ratings -- -- -0.2 -- 8 5/14/12 Hold 35.65 7 Correct 3.6 -1.0 Outperform
Hold Ratings -3.6 -10.5 -29.4 -- 7 5/09/12 Accumulate 38.65 5 Incorrect -7.8 -2.0 Underperform
Reduce Ratings 1.9 1.2 -6.8 --
6 4/16/12 Hold 41.30 23 Incorrect -6.4 -2.2 Underperform
BVN -5.4 -11.6 -24.7 0.0
5 3/02/12 Reduce 40.41 45 Incorrect 3.2 2.2 Outperform
S&P 500 Total Return Index 4.0 7.7 22.6 6.6
4 11/02/11 Hold 43.95 121 Incorrect -7.6 9.1 Underperform
? Help Click here to see the report disclosures Ratings History table continues on following page
© 2012 Markit On Demand, Inc. Page 1

2. Compania de Minas Buenaventura
SAA, US BVN NYSE Report created on 8/27/12
Rating Accuracy
Rating History & Rating Accuracy 38.5%
BVN Over Rating Period
Upgrade or Price ($) on # of Days at Rating Total % Change Underperform/
Date of Rating Rating Downgrade Rating Date This Rating Accuracy Return in Benchmark Outperform Index
3 10/21/11 Accumulate 40.62 12 Correct 8.2 0.6 Outperform
2 3/02/11 Hold 45.88 233 Incorrect -10.8 -4.6 Underperform
1 1/22/11 Accumulate 41.41 39 Correct 10.8 3.4 Outperform
© 2012 Markit On Demand, Inc. Page 2

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