Vale (NYSE:VALE) Sets New 1-Year High – Here’s What Happened

Vale S.A. (NYSE:VALE)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $17.77 and last traded at $17.6750, with a volume of 7085453 shares. The stock had previously closed at $17.45.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on VALE shares. UBS Group increased their price objective on shares of Vale from $12.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, March 27th. Wells Fargo & Company reaffirmed a “cautious” rating and set a $15.50 price objective on shares of Vale in a report on Monday, February 16th. The Goldman Sachs Group increased their price objective on shares of Vale from $13.80 to $18.00 and gave the company a “buy” rating in a report on Friday, January 30th. Royal Bank Of Canada downgraded shares of Vale from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $14.50 to $15.50 in a report on Thursday, March 12th. Finally, Bank of America raised shares of Vale from a “neutral” rating to a “buy” rating and increased their price objective for the company from $18.00 to $19.00 in a report on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.91.

Vale Stock Performance

The firm has a market cap of $80.18 billion, a PE ratio of 31.53 and a beta of 0.53. The firm has a 50-day moving average price of $16.04 and a two-hundred day moving average price of $13.95. The company has a quick ratio of 0.78, a current ratio of 1.15 and a debt-to-equity ratio of 0.53.

Vale (NYSE:VALE) last released its earnings results on Friday, February 13th. The basic materials company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.52 by ($1.42). The firm had revenue of $11.06 billion during the quarter, compared to analysts’ expectations of $10.86 billion. Vale had a net margin of 6.12% and a return on equity of 20.16%. Research analysts forecast that Vale S.A. will post 1.85 EPS for the current fiscal year.

Insider Activity at Vale

In other news, VP Sobrinho Sami Arap bought 12,990 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were acquired at an average price of $16.11 per share, for a total transaction of $209,268.90. Following the completion of the transaction, the vice president directly owned 12,990 shares in the company, valued at $209,268.90. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Parenti Grazielle Tallia bought 10,464 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was purchased at an average price of $16.11 per share, for a total transaction of $168,575.04. Following the transaction, the insider owned 10,464 shares of the company’s stock, valued at approximately $168,575.04. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Hedge Funds Weigh In On Vale

Institutional investors have recently added to or reduced their stakes in the stock. N.E.W. Advisory Services LLC purchased a new position in Vale during the fourth quarter worth approximately $26,000. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna lifted its position 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 buying an additional 1,155 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in Vale during the fourth quarter worth approximately $33,000. Cary Street Partners Investment Advisory LLC lifted its position in Vale by 60.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 2,748 shares of the basic materials company’s stock worth $30,000 after buying an additional 1,030 shares in the last quarter. Finally, Cornerstone Planning Group LLC lifted its position in Vale by 15,360.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 3,092 shares of the basic materials company’s stock worth $40,000 after buying an additional 3,072 shares in the last quarter. Hedge funds and other institutional investors 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.