Vale SA (VALE) Upgraded at Barclays PLC
Vale SA (NASDAQ:VALE) was upgraded by equities researchers at Barclays PLC from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $5.11 price objective on the stock. Barclays PLC’s target price suggests a potential downside of 5.72% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. RBC Capital Markets reiterated a “sector perform” rating and issued a $6.00 price objective (up from $5.50) on shares of Vale SA in a report on Thursday, September 8th. JPMorgan Chase & Co. upgraded shares of Vale SA from a “neutral” rating to an “overweight” rating and set a $7.00 price objective for the company in a report on Monday, September 12th. Zacks Investment Research upgraded shares of Vale SA from a “hold” rating to a “strong-buy” rating and set a $5.25 price objective for the company in a report on Monday, June 20th. Jefferies Group set a $6.00 price objective on shares of Vale SA and gave the stock a “hold” rating in a report on Tuesday, August 23rd. Finally, Wedbush reiterated an “outperform” rating on shares of Vale SA in a report on Thursday, June 9th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $5.75.
Shares of Vale SA (NASDAQ:VALE) traded down 0.91% during mid-day trading on Wednesday, reaching $5.42. The company had a trading volume of 26,226,711 shares. The company’s 50-day moving average price is $5.59 and its 200-day moving average price is $4.93. Vale SA has a 52-week low of $2.13 and a 52-week high of $6.26. The company’s market capitalization is $27.93 billion.
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Large investors have recently added to or reduced their stakes in the stock. Brandes Investment Partners LP purchased a new stake in Vale SA during the second quarter worth about $246,000. Acadian Asset Management LLC purchased a new stake in Vale SA during the second quarter worth about $4,433,000. CIBC World Markets Inc. boosted its stake in Vale SA by 0.3% in the second quarter. CIBC World Markets Inc. now owns 606,414 shares of the company’s stock worth $3,068,000 after buying an additional 1,923 shares during the period. RNC Capital Management LLC purchased a new stake in Vale SA during the second quarter worth about $142,000. Finally, Societe Generale purchased a new stake in Vale SA during the second quarter worth about $7,295,000.
Vale SA Company Profile
Vale SA (Vale) is a metals and mining company. The Company is also a producer of iron ore and iron ore pellets, and nickel. The Company’s segments include Ferrous minerals, Coal, Base metals, Fertilizers and Others. Its Ferrous minerals segment consists of the production and extraction of ferrous minerals, as iron ore, pellets and its logistic services, manganese and ferroalloys, and other ferrous products and services.
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