Vetr Inc. Downgrades Vale SA (VALE) to Hold
Vale SA (NYSE:VALE) was downgraded by research analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday. They presently have a $5.84 price objective on the stock. Vetr‘s price target points to a potential upside of 4.85% from the company’s current price.
A number of other equities analysts also recently weighed in on the company. Morgan Stanley raised Vale SA from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $4.80 to $6.20 in a research report on Tuesday, August 9th. JPMorgan Chase & Co. raised Vale SA from a “neutral” rating to an “overweight” rating in a research report on Monday, September 12th. Royal Bank Of Canada boosted their price objective on Vale SA from $5.50 to $6.00 and gave the stock a “sector perform” rating in a report on Thursday, September 8th. Barclays PLC upgraded Vale SA from an “underweight” rating to an “equal weight” rating in a report on Wednesday, September 21st. Finally, Goldman Sachs Group Inc. assumed coverage on Vale SA in a report on Thursday, June 9th. They set a “neutral” rating and a $4.40 price objective for the company. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $5.00.
Shares of Vale SA (NYSE:VALE) traded up 1.09% during trading on Tuesday, hitting $5.57. The stock had a trading volume of 32,938,704 shares. The stock’s 50-day moving average is $5.45 and its 200-day moving average is $5.05. Vale SA has a 12-month low of $2.13 and a 12-month high of $6.26. The stock’s market capitalization is $28.70 billion.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. bought a new position in shares of Vale SA during the first quarter valued at about $21,892,000. LPL Financial LLC increased its position in shares of 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. Kiltearn Partners LLP increased its position in shares of 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. Scotia Capital Inc. increased its position in shares of 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. Finally, Capital Growth Management LP bought a new position in shares of Vale SA during the first quarter valued at about $13,051,000. Institutional investors own 8.58% of the company’s stock.
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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