Bloomberg News

Peru Stocks: Aceros Arequipa, Buenaventura, Rio Alto

March 23, 2012

The following companies had unusual price changes in Peru trading. Stock symbols are in parentheses and prices are as of the close of trading.

The Lima General Index (IGBVL) rose 0.8 percent to 22,953.79. The MSCI All Peru Capped Index (MXPECAPD) climbed 0.8 percent to 2,884.21.

Rio Alto Mining Ltd. (RIO) , a Canadian gold mining company, gained 2.4 percent to $4.25 after gold advanced the most in four weeks in New York, said Francisco Miranda, an analyst at Lima-based investment fund NC&F Inversiones SA.

Cia. de Minas Buenaventura SAA (BVN PE), the country’s biggest precious-metals miner, rose 1.5 percent to $39.40.

Corp. Aceros Arequipa SA (CORA) (CORAREI1 PE), the Lima-based steelmaker, climbed 2.7 percent to 2.62 soles after Peru’s central bank President Julio Velarde raised the bank’s economic growth forecast this year to 5.7 percent from 5.5 percent.

Morgan Stanley analysts Jonathan Garner and Pankaj Mataney raised their rating on Peruvian stocks to the equivalent of hold, saying the country should benefit from higher gold prices.

Cementos Pacasmayo SAA (CPACASC1) (CPACASC1 PE), the Hochschild Group’s cement producer, gained 2.9 percent to 6.45 soles, a six-week high, after announcing it signed a $75 million loan agreement with Banco de Credito.

Volcan Cia. Minera SAA (VCM\B) (VOLCABC1 PE), Peru’s largest zinc producer, rose 1.4 percent to 3.59 soles after zinc futures advanced in London. The company today re-elected Jose Picasso chairman of the board.

Panoro Minerals Ltd. (PML) , a Canadian copper and gold exploration company, rose 1.3 percent to 75 cents after copper rebounded in New York

To contact the reporter on this story: Alex Emery in Lima at

To contact the editor responsible for this story: David Papadopoulos at

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