Vale S.A. (NYSE:VALE – Get Free Report) has been assigned a consensus rating of “Hold” from the fourteen brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $14.96.
Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Vale from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 30th. Barclays decreased their target price on Vale from $15.00 to $14.50 and set an “equal weight” rating for the company in a research note on Monday. Morgan Stanley set a $15.50 price target on Vale in a report on Wednesday, October 7th. Wells Fargo & Company dropped their price target on shares of Vale from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, Bank of America cut shares of Vale from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $18.00 to $16.00 in a report on Wednesday, August 5th.
Read Our Latest Stock Report on VALE
Vale Stock Performance
NYSE:VALE opened at $10.98 on Friday. The firm has a market capitalization of $49.82 billion, a PE ratio of 7.93 and a beta of 0.50. The business’s fifty day moving average price is $13.73 and its 200 day moving average price is $15.21. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.10 and a quick ratio of 0.77. Vale has a 12 month low of $10.96 and a 12 month high of $17.94.
Vale (NYSE:VALE – Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.09). The business had revenue of $10.60 billion for the quarter, compared to analysts’ expectations of $10.45 billion. Vale had a return on equity of 16.54% and a net margin of 1.64%. On average, sell-side analysts anticipate that Vale will post 1.65 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership increased its holdings in shares of Vale by 15.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 47,947,703 shares of the basic materials company’s stock valued at $762,848,000 after acquiring an additional 6,351,703 shares during the period. Lazard Asset Management LLC raised its position in Vale by 5.4% in the 1st quarter. Lazard Asset Management LLC now owns 23,685,915 shares of the basic materials company’s stock valued at $376,843,000 after purchasing an additional 1,205,280 shares during the last quarter. Bank of America Corp DE raised its position in Vale by 119.9% in the 1st quarter. Bank of America Corp DE now owns 21,837,416 shares of the basic materials company’s stock valued at $347,433,000 after purchasing an additional 11,905,247 shares during the last quarter. Renaissance Technologies LLC raised its position in Vale by 27.3% in the 1st quarter. Renaissance Technologies LLC now owns 14,053,337 shares of the basic materials company’s stock valued at $223,589,000 after purchasing an additional 3,012,700 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Vale in the 1st quarter valued at $128,239,000. Institutional investors and hedge funds own 21.85% of the company’s stock.
Vale Company Profile
Vale SA is a Brazil-based global mining and logistics company best known for producing iron ore and iron ore pellets, key raw materials used in steelmaking. The company also produces nickel, copper, manganese ore, coal and other mineral products, with operations spanning exploration, extraction, processing and transportation.
Vale operates an extensive logistics network that includes railways, ports and maritime transportation systems, primarily supporting the movement of minerals from its production sites to domestic and international customers.
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