Vale S.A. (NYSE:VALE – Get Free Report) hit a new 52-week low during mid-day trading on Tuesday after Wells Fargo & Company lowered their price target on the stock from $15.00 to $13.00. Wells Fargo & Company currently has an equal weight rating on the stock. Vale traded as low as $11.05 and last traded at $11.0360, with a volume of 11,766,626 shares. The stock had previously closed at $11.34.
A number of other brokerages also recently commented on VALE. Zacks Research downgraded Vale from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. Royal Bank Of Canada raised their target price on Vale from $15.00 to $16.00 and gave the company a “sector perform” rating in a research note on Wednesday, September 16th. Morgan Stanley set a $15.50 price target on shares of Vale in a report on Wednesday, October 7th. UBS Group reduced their price target on shares of Vale from $14.50 to $13.50 and set a “neutral” rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. upped their price target on shares of Vale from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 30th. Three investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $14.96.
View Our Latest Stock Analysis on VALE
Hedge Funds Weigh In On Vale
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mountain Hill Investment Partners Corp. acquired a new stake in Vale in the 3rd quarter valued at approximately $40,000. Ramsey Quantitative Systems acquired a new position in Vale during the 2nd quarter worth $56,000. V Square Quantitative Management LLC acquired a new position in Vale during the 1st quarter worth $83,000. Inspire Investing LLC boosted its position in Vale by 19.8% during the 3rd quarter. Inspire Investing LLC now owns 7,141 shares of the basic materials company’s stock worth $96,000 after acquiring an additional 1,179 shares during the period. Finally, Quartz Partners LLC bought a new position in shares of Vale in the first quarter worth $161,000. 21.85% of the stock is owned by institutional investors.
Vale Stock Performance
The company has a market cap of $50.04 billion, a P/E ratio of 73.64 and a beta of 0.42. The company has a 50 day moving average price of $13.81 and a 200-day moving average price of $15.23. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 0.45.
Vale (NYSE:VALE – Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The basic materials company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.09). Vale had a net margin of 5.11% and a return on equity of 19.87%. The business had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.45 billion. Equities analysts expect that Vale S.A. will post 1.65 EPS for the current fiscal year.
About Vale
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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