Buenaventura shares are higher in Friday trading as investors bid up precious-metals producers and re-price the company’s operating leverage into 2026, when the San Gabriel gold project is expected to begin contributing meaningful production. The rally comes with BVN still fresh off its latest quarterly/full-year update, which reiterated a 2026 outlook that includes initial production from San Gabriel and a proposed cash dividend tied to stronger cash generation and balance-sheet capacity.

Buenaventura’s February 2026 operating release laid out 2026 guidance that explicitly includes San Gabriel at 48,000–55,000 ounces of gold, a step-change versus prior periods when the asset produced zero ounces while under construction. In the company’s 4Q25 earnings materials, management highlighted that stronger realized metal prices and higher volumes sold helped drive materially higher net sales and cash generation momentum into 2026, reinforcing the market’s view that BVN is a high-beta way to express a bullish gold/silver view.

In the same full-year 2025 results release, Buenaventura disclosed a proposed dividend of $0.9904 per share/ADS and noted a $97.9 million dividend receipt tied to its Cerro Verde stake after quarter-end. With the stock trading as a “metals + dividend + project ramp” story, income-focused and event-driven buyers can amplify upside on days when the tape is constructive for miners.

Traders will be watching for any incremental updates on San Gabriel ramp-up milestones (including throughput stabilization targets) and any Peru permitting items that could affect timing. The next scheduled catalyst on many market calendars is the company’s next earnings date window in late April 2026, which could further clarify 2026 production cadence and cash-return plans.