Vale Sees Unusually Large Options Volume (VALE)
Shares of Vale (NASDAQ:VALE) was the recipient of some unusual options trading activity on Wednesday. Investors purchased 11,061 put options on the company, ARN reports. This is an increase of approximately 108% compared to the average daily volume of 5,320 put options.
A number of research firms have recently commented on VALE. Analysts at Zacks reiterated a “neutral” rating on shares of Vale (NASDAQ:VALE) in a research note to investors on Wednesday, August 14th. They now have a $16.00 price target on the stock. Separately, analysts at RBC Capital cut their price target on shares of Vale (NASDAQ:VALE) from $23.00 to $17.00 in a research note to investors on Thursday, July 18th. They now have a “sector perform” rating on the stock. Finally, analysts at BMO Capital Markets cut their price target on shares of Vale (NASDAQ:VALE) from $22.00 to $15.00 in a research note to investors on Monday, July 15th. They now have a “market perform” rating on the stock.
Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $20.29.
Shares of Vale (NASDAQ:VALE) traded down 2.50% during mid-day trading on Wednesday, hitting $16.39. 26,185,148 shares of the company’s stock traded hands. Vale has a 52 week low of $12.39 and a 52 week high of $21.88. The stock has a 50-day moving average of $14.9 and a 200-day moving average of $15.62. The company has a market cap of $84.464 billion and a price-to-earnings ratio of 37.11.
Vale SA is a metals and mining company. The Company is also a producer of iron ore and iron ore pellets.
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