BidaskClub cut shares of Vale S.A. (NYSE:VALE) from a strong-buy rating to a buy rating in a report published on Friday morning.
Several other research firms have also recently weighed in on VALE. BMO Capital Markets set a $8.00 price objective on Vale and gave the stock a hold rating in a research report on Tuesday, August 8th. Credit Suisse Group set a $8.00 price objective on Vale and gave the stock a hold rating in a research report on Thursday, July 27th. TheStreet cut Vale from a b- rating to a c+ rating in a research report on Thursday, August 17th. Vetr cut Vale from a strong-buy rating to a buy rating and set a $9.26 price objective on the stock. in a research report on Monday, June 12th. Finally, Santander raised Vale from a hold rating to a buy rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $9.67.
Shares of Vale (NYSE:VALE) traded up 1.02% during midday trading on Friday, reaching $10.85. The company’s stock had a trading volume of 25,929,896 shares. The firm has a 50-day moving average of $10.46 and a 200-day moving average of $9.30. Vale has a one year low of $5.04 and a one year high of $11.72. The stock has a market cap of $55.91 billion, a PE ratio of 15.59 and a beta of 1.56.
Vale (NYSE:VALE) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. Vale had a return on equity of 16.74% and a net margin of 11.01%. The business had revenue of $7.24 billion for the quarter. On average, analysts forecast that Vale will post $1.17 EPS for the current year.
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A number of institutional investors and hedge funds have recently modified their holdings of VALE. Nationwide Fund Advisors purchased a new stake in Vale during the 1st quarter worth about $3,563,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Vale during the 1st quarter worth about $333,000. TD Asset Management Inc. lifted its holdings in Vale by 11.5% during the 1st quarter. TD Asset Management Inc. now owns 33,836 shares of the basic materials company’s stock worth $321,000 after purchasing an additional 3,497 shares in the last quarter. State of Wisconsin Investment Board purchased a new stake in Vale during the 1st quarter worth about $3,846,000. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Vale during the 1st quarter worth about $180,000. 9.58% of the stock is currently owned by institutional investors and hedge funds.
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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