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Vale (NASDAQ:VALE) shares saw unusually-strong trading volume on Tuesday after the company announced a dividend, Analyst RN reports. Approximately 27,843,387 shares changed hands during trading, an increase of 28% from the previous session’s volume of 21,678,127 shares.The stock last traded at $15.27 and had previously closed at $14.98.

The newly announced dividend is scheduled for Wednesday, May 7th. Shareholders of record on Thursday, April 17th will be paid a dividend of $0.4075 per share. This represents a dividend yield of 4.96%. The ex-dividend date is Tuesday, April 15th.

VALE has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Vale in a research note on Thursday, February 13th. They now have a $15.00 price target on the stock. Separately, 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. Finally, 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. Vale presently has a consensus rating of “Hold” and an average target price of $16.94.

The stock’s 50-day moving average is $13.63 and its 200-day moving average is $14.70. The company has a market cap of $77.507 billion and a price-to-earnings ratio of 1361.82.

Vale (NASDAQ:VALE) last announced its earnings results on Thursday, February 27th. The company reported $0.62 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.65 by $0.03. On average, analysts predict that Vale will post $1.99 earnings per share for the current fiscal year.

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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