Other research analysts have also issued research reports about the company. TheStreet raised VALE from a c+ rating to a b- rating in a report on Tuesday, May 23rd. Vetr lowered VALE from a strong-buy rating to a buy rating and set a $9.51 target price for the company. in a report on Monday, May 29th. HSBC Holdings plc raised VALE from a hold rating to a buy rating and lifted their target price for the company from $8.67 to $8.76 in a report on Wednesday, May 31st. Deutsche Bank AG reaffirmed a buy rating and set a $12.00 target price (down previously from $12.50) on shares of VALE in a report on Sunday, June 25th. Finally, BidaskClub lowered VALE from a strong-buy rating to a buy rating in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $9.16.
Shares of VALE (VALE) traded down 1.62% during midday trading on Tuesday, reaching $9.69. 25,154,744 shares of the company’s stock were exchanged. VALE has a 12 month low of $4.86 and a 12 month high of $11.70. The firm has a 50 day moving average price of $9.30 and a 200 day moving average price of $9.28. The company has a market cap of $49.94 billion, a P/E ratio of 13.74 and a beta of 1.55.
VALE (NYSE:VALE) last posted its earnings results on Thursday, July 27th. The basic materials company reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. The business had revenue of $7.24 billion during the quarter. VALE had a return on equity of 16.74% and a net margin of 11.01%. Equities research analysts forecast that VALE will post $1.03 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in VALE. Reliance Trust Co. of Delaware increased its stake in VALE by 40.6% in the first quarter. Reliance Trust Co. of Delaware now owns 66,997 shares of the basic materials company’s stock worth $636,000 after buying an additional 19,353 shares during the last quarter. Norges Bank purchased a new stake in VALE during the fourth quarter worth $6,804,000. Verde Servicos Internacionais S.A. increased its stake in VALE by 158.6% in the second quarter. Verde Servicos Internacionais S.A. now owns 284,500 shares of the basic materials company’s stock worth $2,489,000 after buying an additional 174,500 shares during the last quarter. Nine Chapters Capital Management LLC purchased a new stake in VALE during the first quarter worth $107,000. Finally, Trexquant Investment LP purchased a new stake in VALE during the first quarter worth $2,017,000. Institutional investors own 8.88% of the company’s stock.
Vale SA is a global producer of iron ore and iron ore pellets, key raw materials for steelmaking, and producer of nickel. The Company also produces copper, metallurgical and thermal coal, potash, phosphates and other fertilizer nutrients, manganese ore, ferroalloys, platinum group metals, gold, silver and cobalt.
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