Vale S.A. (NYSE:VALE) Stock Has Average Target Price of $16.04

Shares of Vale S.A. (NYSE:VALE – Get Free Report) have been given a consensus rating of “Hold” by the sixteen analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $15.96.

A number of equities research analysts have issued reports on VALE shares. Barclays lifted their target price on shares of Vale from $16.75 to $17.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Royal Bank Of Canada increased their price objective on Vale from $15.00 to $16.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 16th. Wall Street Zen cut Vale from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Morgan Stanley set a $15.50 target price on Vale in a research note on Wednesday. Finally, The Goldman Sachs Group lowered Vale from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $18.00 to $16.00 in a research report on Monday, July 27th.

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Hedge Funds Weigh In On Vale

A number of hedge funds have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership boosted its position in Vale by 15.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 47,947,703 shares of the basic materials company’s stock worth $762,848,000 after purchasing an additional 6,351,703 shares during the period. Lazard Asset Management LLC raised its position in shares of Vale by 5.4% in the first 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 period. Bank of America Corp DE raised its position in shares of Vale by 119.9% in the first 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 period. Assenagon Asset Management S.A. lifted its stake in shares of Vale by 15,202.2% in the first quarter. Assenagon Asset Management S.A. now owns 15,663,641 shares of the basic materials company’s stock worth $249,209,000 after buying an additional 15,561,279 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Vale by 27.3% during the 1st quarter. Renaissance Technologies LLC now owns 14,053,337 shares of the basic materials company’s stock worth $223,589,000 after buying an additional 3,012,700 shares during the period. Institutional investors and hedge funds own 21.85% of the company’s stock.

Vale Trading Up 1.6%

Shares of NYSE:VALE opened at $13.63 on Wednesday. The stock has a market capitalization of $61.89 billion, a price-to-earnings ratio of 27.83 and a beta of 0.42. Vale has a 1-year low of $10.71 and a 1-year high of $17.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.77 and a current ratio of 1.19. The company has a 50 day moving average price of $14.44 and a 200 day moving average price of $15.32.

Vale (NYSE:VALE – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.10). The company had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $10.47 billion. Vale had a net margin of 5.11% and a return on equity of 19.87%. On average, research analysts anticipate that Vale will post 1.82 EPS for the current fiscal year.

Vale Dividend Announcement

The company also recently declared a special dividend, which was paid on Thursday, September 10th. Stockholders of record on Thursday, August 13th were issued a dividend of $0.3088 per share. The ex-dividend date was Thursday, August 13th. Vale’s payout ratio is currently 89.80%.

About Vale

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Vale SA is a Brazil-based global mining company and one of the world’s major producers of iron ore and iron ore pellets, which are used primarily in steelmaking. The company also produces nickel, copper, manganese, coal and other mineral products, serving customers in the steel, energy and technology industries.

Founded in 1942 as Companhia Vale do Rio Doce, the company was privatized in 1997 and adopted the Vale name in 2007. Its operations are concentrated in Brazil, particularly in the states of Pará and Minas Gerais, while its base-metals business has mining and processing activities in countries including Canada and Indonesia.

Vale also operates an integrated logistics system that includes railways, ports and maritime transportation infrastructure used to move its products from mining regions to domestic and international markets.

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