Vale S.A. (NYSE:VALE) has been assigned a $8.00 price target by investment analysts at BMO Capital Markets in a research note issued on Tuesday. The firm presently has a “hold” rating on the basic materials company’s stock. BMO Capital Markets’ price target would suggest a potential downside of 21.57% from the company’s current price.
Several other research analysts also recently issued reports on the company. Vetr upgraded Vale from a “buy” rating to a “strong-buy” rating and set a $9.51 price objective for the company in a research report on Thursday, April 27th. Zacks Investment Research downgraded Vale from a “hold” rating to a “sell” rating in a research report on Monday, May 29th. HSBC Holdings plc upgraded Vale from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $8.67 to $8.76 in a research report on Wednesday, May 31st. Deutsche Bank AG restated a “buy” rating and set a $12.00 price objective (down from $12.50) on shares of Vale in a research report on Sunday, June 25th. Finally, Credit Suisse Group set a $8.00 price objective on Vale and gave the stock a “hold” rating in a research report on Tuesday, June 27th. 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 company. The company presently has an average rating of “Buy” and a consensus price target of $8.99.
Vale (NYSE:VALE) traded down 1.45% during midday trading on Tuesday, hitting $10.20. The stock had a trading volume of 44,404,926 shares. The firm has a market cap of $52.56 billion, a P/E ratio of 14.45 and a beta of 1.55. Vale has a 12-month low of $4.86 and a 12-month high of $11.70. The stock has a 50-day moving average price of $9.00 and a 200 day moving average price of $9.28.
Vale (NYSE:VALE) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.18 earnings per share (EPS) 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 firm had revenue of $7.24 billion during the quarter. On average, equities analysts anticipate that Vale will post $1.01 earnings per share for the current fiscal year.
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Several hedge funds have recently made changes to their positions in the stock. Raymond James Trust N.A. bought a new stake in shares of Vale during the first quarter valued at about $101,000. Nine Chapters Capital Management LLC bought a new stake in shares of Vale during the first quarter valued at about $107,000. Cadinha & Co. LLC bought a new stake in shares of Vale during the first quarter valued at about $109,000. Wedbush Securities Inc. boosted its stake in shares of Vale by 0.7% in the second quarter. Wedbush Securities Inc. now owns 12,991 shares of the basic materials company’s stock valued at $114,000 after buying an additional 84 shares in the last quarter. Finally, Baldwin Investment Management LLC boosted its stake in shares of Vale by 0.3% in the second quarter. Baldwin Investment Management LLC now owns 13,701 shares of the basic materials company’s stock valued at $120,000 after buying an additional 36 shares in the last quarter. 8.88% of the stock is owned by 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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