Vale SA (VALE) Stock Rating Upgraded by Barclays PLC
Vale SA (NYSE:VALE) was upgraded by analysts at Barclays PLC from an “underweight” rating to an “equal weight” rating in a research report issued on Wednesday, StockTargetPrices.com reports.
A number of other research firms also recently issued reports on VALE. Morgan Stanley raised Vale SA from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $4.80 to $6.20 in a research report on Tuesday, August 9th. Vetr cut Vale SA from a “buy” rating to a “hold” rating and set a $6.13 price objective for the company. in a research note on Tuesday, August 16th. Royal Bank Of Canada upped their price objective on Vale SA from $5.50 to $6.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 8th. Finally, JPMorgan Chase & Co. upgraded Vale SA from a “neutral” rating to an “overweight” rating in a research note on Monday, September 12th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $5.24.
Shares of Vale SA (NYSE:VALE) opened at 5.11 on Wednesday. The firm’s 50 day moving average price is $5.59 and its 200-day moving average price is $4.93. The company’s market capitalization is $26.33 billion. Vale SA has a 1-year low of $2.13 and a 1-year high of $6.26.
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A number of hedge funds have recently bought and sold shares of VALE. Scotia Capital Inc. raised 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. LPL Financial LLC raised its stake in Vale SA by 4.2% in the first quarter. LPL Financial LLC now owns 321,495 shares of the company’s stock valued at $1,328,000 after buying an additional 12,910 shares during the period. Pacad Investment Ltd. raised 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. CIBC World Markets Inc. raised 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. Finally, RMB Capital Management LLC raised 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.
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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