Vale SA Sees Significant Growth in Short Interest (VALE)
Vale SA (NYSE:VALE) was the target of a large growth in short interest during the month of June. As of June 13th, there was short interest totalling 127,564,606 shares, a growth of 7.3% from the May 30th total of 118,922,979 shares, American Banking and Market News reports. Based on an average daily volume of 17,334,993 shares, the short-interest ratio is presently 7.4 days. Approximately 0.0% of the company’s shares are short sold.
A number of research firms have recently commented on VALE. Analysts at Credit Suisse reiterated a “neutral” rating on shares of Vale SA in a research note on Friday, May 16th. They now have a $17.00 price target on the stock, down previously from $19.00. Analysts at Canaccord Genuity cut their price target on shares of Vale SA from $18.50 to $17.00 in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $17.90.
Vale SA (NYSE:VALE) opened at 14.03 on Friday. Vale SA has a 52-week low of $12.29 and a 52-week high of $17.14. The stock’s 50-day moving average is $13.11 and its 200-day moving average is $13.68. The company’s market cap is $72.302 billion.
Vale SA (NYSE:VALE) is a Brazil-based metals and mining company.
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