Investors Purchase High Volume of Put Options on Vale (VALE)
Shares of Vale (NASDAQ:VALE) was the recipient of some unusual options trading activity on Thursday. Investors bought 16,961 put options on the company, StockRatingsNetwork.com reports. This represents an increase of approximately 144% compared to the average daily volume of 6,957 put options.
VALE has been the subject of a number of recent research reports. Analysts at RBC Capital reiterated a “sector perform” rating on shares of Vale in a research note to investors on Friday, October 4th. They now have a $17.00 price target on the stock. Separately, analysts at Barclays Capital initiated coverage on shares of Vale in a research note to investors on Friday, October 4th. They set an “underweight” rating and a $13.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Vale in a research note to investors on Wednesday, October 2nd. They now have a $20.00 price target on the stock, down previously from $22.00. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $19.35.
Shares of Vale (NASDAQ:VALE) opened at 15.40 on Friday. Vale has a 52-week low of $12.39 and a 52-week high of $21.88. The stock’s 50-day moving average is $15.68 and its 200-day moving average is $15.31. The company has a market cap of $79.362 billion and a P/E ratio of 33.27.
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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