Santander upgraded shares of Vale S.A. (NYSE:VALE) from a hold rating to a buy rating in a research report released on Tuesday morning, The Fly reports.
Other research analysts have also issued research reports about the company. TheStreet upgraded Vale from a c+ rating to a b- rating in a research report on Tuesday, May 23rd. HSBC Holdings plc upgraded Vale from a hold rating to a buy rating and raised their price objective for the company from $8.67 to $8.76 in a report on Wednesday, May 31st. Vetr lowered Vale from a strong-buy rating to a buy rating and set a $9.51 price objective on the stock. in a report on Monday, May 29th. Deutsche Bank AG restated a buy rating and issued a $12.00 price objective (down previously from $12.50) on shares of Vale in a report on Sunday, June 25th. Finally, BidaskClub lowered Vale from a strong-buy rating to a buy rating in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. Vale presently has a consensus rating of Buy and an average price target of $9.67.
Shares of Vale (NYSE VALE) opened at 10.74 on Tuesday. The company has a market cap of $55.37 billion, a PE ratio of 15.44 and a beta of 1.56. Vale has a 12 month low of $4.91 and a 12 month high of $11.72. The company has a 50-day moving average of $10.42 and a 200 day moving average of $9.30.
Vale (NYSE:VALE) last announced its earnings results on Thursday, July 27th. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. Vale had a return on equity of 16.74% and a net margin of 11.01%. The firm had revenue of $7.24 billion for the quarter. On average, analysts anticipate that Vale will post $1.15 earnings per share for the current year.
Several large investors have recently modified their holdings of the stock. Capital Growth Management LP increased its position in shares of Vale by 16.7% during the 1st quarter. Capital Growth Management LP now owns 20,250,000 shares of the basic materials company’s stock worth $192,375,000 after purchasing an additional 2,900,000 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Vale by 55.2% during the 2nd quarter. Acadian Asset Management LLC now owns 10,948,983 shares of the basic materials company’s stock worth $95,804,000 after purchasing an additional 3,892,825 shares during the last quarter. LMR Partners LLP acquired a new stake in shares of Vale during the 1st quarter worth about $48,332,000. Balyasny Asset Management LLC acquired a new stake in shares of Vale during the 2nd quarter worth about $42,373,000. Finally, Trilogy Global Advisors LP acquired a new stake in shares of Vale during the 2nd quarter worth about $30,124,000. 9.58% of the stock is owned by hedge funds and other institutional investors.
Vale Company Profile
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.
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