Vale (NYSE:VALE – Get Free Report) had its price target reduced by Wells Fargo & Company from $16.00 to $15.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the basic materials company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 6.57% from the stock’s current price.
Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. raised their target price on Vale from $19.50 to $21.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Vale in a report on Monday, June 15th. Wall Street Zen upgraded Vale from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Scotiabank set a $19.00 price objective on Vale in a research note on Monday, June 15th. Finally, Bank of America upgraded Vale from a “neutral” rating to a “buy” rating and lifted their target price for the company from $18.00 to $19.00 in a research report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Vale has an average rating of “Moderate Buy” and a consensus target price of $16.54.
View Our Latest Research Report on Vale
Vale Price Performance
Vale (NYSE:VALE – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.08). The firm had revenue of $9.26 billion for the quarter, compared to analyst estimates of $9.53 billion. Vale had a return on equity of 21.10% and a net margin of 7.21%. On average, equities research analysts predict that Vale will post 2.15 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. Moody National Bank Trust Division lifted its position in shares of Vale by 14.6% in the 2nd quarter. Moody National Bank Trust Division now owns 18,601 shares of the basic materials company’s stock worth $280,000 after purchasing an additional 2,366 shares during the period. Confluence Investment Management LLC increased its holdings in Vale by 17.7% in the second quarter. Confluence Investment Management LLC now owns 14,117 shares of the basic materials company’s stock worth $212,000 after purchasing an additional 2,119 shares in the last quarter. Empowered Funds LLC increased its holdings in Vale by 74.1% in the first quarter. Empowered Funds LLC now owns 55,146 shares of the basic materials company’s stock worth $877,000 after purchasing an additional 23,478 shares in the last quarter. Parallel Advisors LLC lifted its stake in Vale by 68.8% in the first quarter. Parallel Advisors LLC now owns 29,117 shares of the basic materials company’s stock valued at $463,000 after buying an additional 11,865 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Vale by 119.9% during the 1st quarter. Bank of America Corp DE now owns 21,837,416 shares of the basic materials company’s stock worth $347,433,000 after buying an additional 11,905,247 shares in the last quarter. Institutional investors and hedge funds own 21.85% of the company’s stock.
About Vale
Vale SA is a Brazilian multinational mining company and one of the world’s largest producers of iron ore and iron ore pellets. In addition to iron ore, the company produces and sells a range of bulk commodities and metals, including nickel, copper, coal, manganese, ferroalloys and cobalt, and it participates in the fertilizer inputs market. Vale also operates extensive logistics assets — including rail, port and maritime logistics — that support its mining and export activities and provide services to third parties in some regions.
Headquartered in Brazil, Vale maintains a global operational footprint with mining, processing and shipping activities across the Americas, Africa, Asia and Oceania.
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