Vale SA (VALE) Receives Consensus Recommendation of “Hold” from Brokerages
Vale SA (NASDAQ:VALE) has been assigned a consensus recommendation of “Hold” from the eleven research firms that are currently covering the firm. Seven equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $5.77.
A number of research analysts have recently weighed in on VALE shares. JPMorgan Chase & Co. upgraded shares of Vale SA from a “neutral” rating to an “overweight” rating and set a $7.00 price target on the stock in a report on Monday, September 12th. Barclays PLC upgraded shares of Vale SA from an “underweight” rating to an “equal weight” rating and set a $5.11 price target on the stock in a report on Wednesday, September 21st. Jefferies Group set a $6.00 price target on shares of Vale SA and gave the company a “hold” rating in a report on Tuesday, August 23rd. RBC Capital Markets restated a “sector perform” rating and set a $6.00 price target (up previously from $5.50) on shares of Vale SA in a report on Thursday, September 8th. Finally, HSBC restated a “hold” rating and set a $6.00 price target on shares of Vale SA in a report on Thursday, September 29th.
Shares of Vale SA (NASDAQ:VALE) traded down 3.23% during midday trading on Tuesday, hitting $5.70. 18,223,995 shares of the stock were exchanged. The stock’s 50 day moving average is $5.45 and its 200 day moving average is $5.08. Vale SA has a 12-month low of $2.13 and a 12-month high of $6.26. The firm’s market cap is $29.37 billion.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/vale-sa-vale-receives-consensus-recommendation-of-hold-from-brokerages.html
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC purchased a new position in Vale SA during the second quarter worth about $4,433,000. CIBC World Markets Inc. raised 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 valued at $3,068,000 after buying an additional 1,923 shares in the last quarter. RNC Capital Management LLC bought a new stake in Vale SA during the second quarter valued at about $142,000. American Century Companies Inc. bought a new stake in Vale SA during the second quarter valued at about $9,768,000. Finally, Pacific Heights Asset Management LLC raised its stake in Vale SA by 25.0% in the second quarter. Pacific Heights Asset Management LLC now owns 750,000 shares of the company’s stock valued at $3,795,000 after buying an additional 150,000 shares in the last quarter.
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.
Receive News & Ratings for Vale SA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vale SA and related companies with MarketBeat.com's FREE daily email newsletter.