Vale Given Neutral Rating at Zacks (VALE)
Vale (NASDAQ:VALE)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued on Thursday, StockRatingsNetwork reports. They currently have a $15.00 price objective on the stock. Zacks‘ target price indicates a potential upside of 4.31% from the company’s current price.
Zacks‘ analyst wrote, “Vale reported improved year-over-year production for most of its commodities in the third quarter of 2013. The company also engages in research and development projects which are expected to translate into higher revenues. The Brazilian economy is experiencing a rise in demand of metals and minerals, giving Vale a geographical advantage. The recent urbanization phase will also help raise demand for iron ore and base metals in the quarters ahead. Moreover, Vale is divesting its non-core assets in order to reduce costs. However, the company may face uncertainty in future operations owing to environmental regulations and policies. Moreover, the company’s presence in various regions poses foreign currency exchange risks. Thus, we prefer to remain on the sidelines and maintain a Neutral recommendation on the stock.”
VALE has been the subject of a number of other recent research reports. Analysts at Morgan Stanley upgraded shares of Vale from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, February 5th. They now have a $17.50 price target on the stock, down previously from $18.00. Separately, analysts at Jefferies Group initiated coverage on shares of Vale in a research note on Friday, January 10th. They set a “hold” rating and a $15.00 price target on the stock. Finally, analysts at Clarkson Capital initiated coverage on shares of Vale in a research note on Wednesday, December 18th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $17.85.
Shares of Vale (NASDAQ:VALE) traded up 0.49% during mid-day trading on Thursday, hitting $14.27. 9,518,865 shares of the company’s stock traded hands. Vale has a 52-week low of $12.39 and a 52-week high of $19.82. The stock’s 50-day moving average is $13.92 and its 200-day moving average is $15.09. The company has a market cap of $73.539 billion and a price-to-earnings ratio of 15.88.
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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