Vale (NYSE:VALE – Get Free Report) was downgraded by investment analysts at Freedom Broker from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday, Zacks reports.
A number of other research analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $18.00 price objective on shares of Vale in a report on Friday, May 15th. Wall Street Zen cut Vale from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Wells Fargo & Company reduced their target price on Vale from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 9th. JPMorgan Chase & Co. upped their price target on Vale from $19.50 to $21.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Finally, UBS Group reiterated a “neutral” rating and set a $16.50 price target on shares of Vale in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $16.33.
View Our Latest Report on VALE
Vale Price Performance
Vale (NYSE:VALE – Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.10). Vale had a net margin of 5.11% and a return on equity of 19.87%. The firm had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $10.47 billion. Analysts predict that Vale will post 1.9 earnings per share for the current year.
Institutional Trading of Vale
Several institutional investors have recently added to or reduced their stakes in VALE. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna lifted its stake in Vale by 128.3% during the fourth quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna now owns 2,055 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 1,155 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in shares of Vale in the 4th quarter valued at $33,000. Triumph Capital Management purchased a new stake in shares of Vale in the 3rd quarter valued at $34,000. EFG International AG acquired a new position in Vale during the 4th quarter worth about $52,000. Finally, Ramsey Quantitative Systems acquired a new position in Vale during the 2nd quarter worth about $56,000. 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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