Vale SA Receives “Overweight” Rating from JPMorgan Chase & Co. (VALE)
Vale SA (NASDAQ:VALE)‘s stock had its “overweight” rating reiterated by JPMorgan Chase & Co. in a research note issued on Monday. They currently have a $20.50 price target on the stock, up from their previous price target of $19.50. JPMorgan Chase & Co.’s price objective points to a potential upside of 49.53% from the company’s current price.
Shares of Vale SA (NASDAQ:VALE) traded up 0.80% during mid-day trading on Monday, hitting $13.82. The stock had a trading volume of 11,681,516 shares. Vale SA has a 1-year low of $12.29 and a 1-year high of $17.14. The stock has a 50-day moving average of $14.01 and a 200-day moving average of $13.67. The company has a market cap of $71.220 billion and a price-to-earnings ratio of 73.71.
Vale SA (NASDAQ:VALE) last announced its earnings results on Thursday, July 31st. The company reported $0.38 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.44 by $0.06. On average, analysts predict that Vale SA will post $1.72 earnings per share for the current fiscal year.
A number of other firms have also recently commented on VALE. Analysts at Zacks reiterated a “neutral” rating on shares of Vale SA in a research note on Monday, August 11th. They now have a $15.00 price target on the stock. Separately, analysts at Nomura reiterated a “buy” rating on shares of Vale SA in a research note on Friday, August 1st. They now have a $20.00 price target on the stock, down previously from $31.00. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Vale SA in a research note on Thursday, July 24th. They now have a $15.50 price target on the stock, up previously from $13.00. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $18.09.
Vale SA (NASDAQ:VALE) is a Brazil-based metals and mining company.
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