Vale SA (VALE) PT Set at $6.00 by Jefferies Group
Vale SA (NASDAQ:VALE) received a $6.00 target price from analysts at Jefferies Group in a research note issued to investors on Sunday. The firm currently has a a “hold” rating on the stock. Jefferies Group’s price objective indicates a potential upside of 7.53% from the company’s current price.
VALE has been the subject of several other research reports. Barclays PLC raised shares of Vale SA from an “underweight” rating to an “equal weight” rating and set a $5.11 price objective for the company in a research note on Wednesday, September 21st. Royal Bank Of Canada lifted their price objective on shares of Vale SA from $5.50 to $6.00 and gave the company a “sector perform” rating in a research note on Thursday, September 8th. Morgan Stanley raised shares of Vale SA from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $4.80 to $6.20 in a research report on Tuesday, August 9th. HSBC reissued a “hold” rating and set a $6.00 target price on shares of Vale SA in a research report on Thursday, September 29th. Finally, Zacks Investment Research raised shares of Vale SA from a “hold” rating to a “strong-buy” rating and set a $5.25 target price for the company in a research report on Monday, June 20th. Seven research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $5.77.
Vale SA (NASDAQ:VALE) traded up 1.79% during trading on Friday, reaching $5.68. The company had a trading volume of 9,369,942 shares. The firm has a 50-day moving average price of $5.45 and a 200 day moving average price of $5.10. The stock’s market cap is $29.27 billion. Vale SA has a 12-month low of $2.13 and a 12-month high of $6.26.
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A number of hedge funds have recently bought and sold shares of VALE. Acadian Asset Management LLC acquired a new stake in Vale SA during the second quarter worth $4,433,000. Brandes Investment Partners LP acquired a new stake in Vale SA during the second quarter worth $246,000. CIBC World Markets Inc. boosted 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 worth $3,068,000 after buying an additional 1,923 shares during the last quarter. RNC Capital Management LLC acquired a new stake in Vale SA during the second quarter worth $142,000. Finally, Pacific Heights Asset Management LLC boosted 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 worth $3,795,000 after buying an additional 150,000 shares during 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.
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