VALE S.A. (VALE) Upgraded to Buy by Sandler O’Neill

Sandler O’Neill upgraded shares of VALE S.A. (NYSE:VALE) from a hold rating to a buy rating in a research report released on Wednesday.

VALE has been the subject of a number of other reports. Deutsche Bank AG restated a buy rating and issued a $12.00 price objective (down from $12.50) on shares of VALE in a report on Sunday, June 25th. BMO Capital Markets restated a hold rating and issued a $10.00 price objective on shares of VALE in a report on Friday, June 2nd. Credit Suisse Group set a $8.00 price objective on shares of VALE and gave the stock a hold rating in a report on Sunday, May 28th. HSBC Holdings plc upgraded shares of VALE from a hold rating to a buy rating and boosted their price objective for the stock from $8.67 to $8.76 in a report on Wednesday, May 31st. Finally, Clarkson Capital restated a neutral rating on shares of VALE in a report on Monday, July 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. VALE currently has a consensus rating of Buy and a consensus price target of $9.67.

VALE (NYSE VALE) traded down 2.90% during midday trading on Wednesday, hitting $10.72. 32,149,810 shares of the stock traded hands. The stock’s 50-day moving average price is $10.34 and its 200 day moving average price is $9.28. The company has a market capitalization of $55.24 billion, a price-to-earnings ratio of 15.40 and a beta of 1.56. VALE has a 52 week low of $4.90 and a 52 week high of $11.72.

VALE (NYSE:VALE) last announced its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. The firm had revenue of $7.24 billion during the quarter. VALE had a net margin of 11.01% and a return on equity of 16.74%. On average, equities research analysts predict that VALE will post $1.15 EPS for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cetera Investment Advisers bought a new position in VALE in the 2nd quarter worth $2,611,000. Verition Fund Management LLC bought a new position in VALE in the 2nd quarter worth $107,000. Capital Innovations LLC raised its holdings in VALE by 82.8% in the 2nd quarter. Capital Innovations LLC now owns 40,200 shares of the basic materials company’s stock worth $352,000 after purchasing an additional 18,210 shares in the last quarter. BlueCrest Capital Management Ltd bought a new position in VALE in the 2nd quarter worth $438,000. Finally, Maverick Capital Ltd. raised its holdings in VALE by 112.0% in the 2nd quarter. Maverick Capital Ltd. now owns 276,820 shares of the basic materials company’s stock worth $2,422,000 after purchasing an additional 146,250 shares in the last quarter. Institutional investors and hedge funds own 9.58% of the company’s stock.

About VALE

Vale SA is a global producer of iron ore and iron ore pellets, key raw materials for steelmaking, and producer of nickel. The Company also produces copper, metallurgical and thermal coal, potash, phosphates and other fertilizer nutrients, manganese ore, ferroalloys, platinum group metals, gold, silver and cobalt.

Analyst Recommendations for VALE (NYSE:VALE)

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