Vale SA (VALE) Lifted to “Buy” at Vetr Inc.
Vale SA (NYSE:VALE) was upgraded by research analysts at Vetr from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage presently has a $6.06 target price on the stock. Vetr‘s target price indicates a potential upside of 4.12% from the stock’s current price.
VALE has been the subject of several other research reports. Royal Bank Of Canada increased their price target on shares of Vale SA from $5.50 to $6.00 and gave the company a “sector perform” rating in a research report on Thursday, September 8th. Barclays PLC raised shares of Vale SA from an “underweight” rating to an “equal weight” rating in a report on Wednesday, September 21st. JPMorgan Chase & Co. raised shares of Vale SA from a “neutral” rating to an “overweight” rating in a report on Monday, September 12th. Finally, Morgan Stanley raised shares of Vale SA from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $4.80 to $6.20 in a report on Tuesday, August 9th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Vale SA currently has an average rating of “Hold” and an average price target of $5.01.
Shares of Vale SA (NYSE:VALE) traded up 0.69% during midday trading on Wednesday, hitting $5.82. 24,206,242 shares of the company traded hands. The stock has a 50 day moving average of $5.45 and a 200-day moving average of $5.09. Vale SA has a 52 week low of $2.13 and a 52 week high of $6.26. The stock’s market capitalization is $29.99 billion.
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Hedge funds and other institutional investors have recently modified their holdings of the company. LPL Financial LLC boosted 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 in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of Vale SA during the first quarter valued at about $21,892,000. Capital Growth Management LP purchased a new position in shares of Vale SA during the first quarter valued at about $13,051,000. Scotia Capital Inc. boosted 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 in the last quarter. Finally, Kiltearn Partners LLP boosted 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 in the last quarter. Hedge funds and other 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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