Vale SA (VALE) Cut to “Buy” at Vetr Inc.
Vale SA (NYSE:VALE) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Wednesday. They currently have a $5.84 price target on the stock. Vetr‘s price target indicates a potential upside of 6.76% from the stock’s current price.
VALE has been the subject of a number of other reports. Morgan Stanley upgraded shares of Vale SA from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $4.80 to $6.20 in a report on Tuesday, August 9th. Goldman Sachs Group Inc. began coverage on shares of Vale SA in a report on Thursday, June 9th. They set a “neutral” rating and a $4.40 price target for the company. JPMorgan Chase & Co. upgraded shares of Vale SA from a “neutral” rating to an “overweight” rating in a report on Monday, September 12th. Royal Bank Of Canada upped their price target on shares of Vale SA from $5.50 to $6.00 and gave the company a “sector perform” rating in a report on Thursday, September 8th. Finally, Barclays PLC upgraded shares of Vale SA from an “underweight” rating to an “equal weight” rating in a report on Wednesday. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Vale SA has a consensus rating of “Hold” and a consensus target price of $5.22.
Shares of Vale SA (NYSE:VALE) traded up 7.05% during mid-day trading on Wednesday, hitting $5.47. The stock had a trading volume of 31,832,610 shares. Vale SA has a one year low of $2.13 and a one year high of $6.26. The company’s market cap is $28.19 billion. The firm’s 50 day moving average price is $5.59 and its 200-day moving average price is $4.93.
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Hedge funds have recently added to or reduced their stakes in the stock. CIBC World Markets Inc. boosted its stake in Vale SA by 1.5% in the first quarter. CIBC World Markets Inc. now owns 604,491 shares of the company’s stock valued at $2,545,000 after buying an additional 8,723 shares during the period. Pacad Investment Ltd. boosted its stake in Vale SA by 360.5% in the first quarter. Pacad Investment Ltd. now owns 400,228 shares of the company’s stock valued at $1,685,000 after buying an additional 313,308 shares during the period. RMB Capital Management LLC boosted its stake in Vale SA by 1,014.3% in the first quarter. RMB Capital Management LLC now owns 1,474,121 shares of the company’s stock valued at $4,599,000 after buying an additional 1,341,831 shares during the period. Kiltearn Partners LLP boosted its stake in Vale SA by 10.1% in the first quarter. Kiltearn Partners LLP now owns 17,061,693 shares of the company’s stock valued at $71,830,000 after buying an additional 1,560,700 shares during the period. Finally, Scotia Capital Inc. boosted its stake in Vale SA by 13.1% in the first quarter. Scotia Capital Inc. now owns 63,280 shares of the company’s stock valued at $267,000 after buying an additional 7,320 shares during the period.
About Vale SA
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.
To view Vetr’s full report, visit Vetr’s official website.
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