Credit Suisse Group Reiterates “$8.00” Price Target for Vale S.A. (VALE)
Vale S.A. (NYSE:VALE) has been assigned a $8.00 target price by stock analysts at Credit Suisse Group in a note issued to investors on Tuesday. The firm currently has a “hold” rating on the basic materials company’s stock. Credit Suisse Group’s price objective points to a potential downside of 8.26% from the stock’s current price.
Other research analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Vale from a “c+” rating to a “b-” rating in a research note on Tuesday, May 23rd. Zacks Investment Research upgraded shares of Vale from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Thursday, April 6th. Vetr cut shares of Vale from a “strong-buy” rating to a “buy” rating and set a $9.76 price target on the stock. in a research note on Monday, April 24th. Deutsche Bank AG lifted their price target on shares of Vale from $12.00 to $12.50 and gave the stock a “buy” rating in a research note on Tuesday, March 21st. Finally, HSBC Holdings plc upgraded shares of Vale from a “hold” rating to a “buy” rating and lifted their price target for the stock from $8.67 to $8.76 in a research note on Wednesday, May 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $9.34.
Shares of Vale (NYSE:VALE) traded up 3.56% during midday trading on Tuesday, reaching $8.72. 27,564,349 shares of the company’s stock were exchanged. The stock has a market cap of $44.94 billion, a price-to-earnings ratio of 9.93 and a beta of 1.55. Vale has a one year low of $4.32 and a one year high of $11.70. The firm has a 50 day moving average of $8.27 and a 200-day moving average of $9.13. Vale also was the target of unusually large options trading activity on Tuesday. Stock investors acquired 1,390 call options on the stock. This represents an increase of approximately 243% compared to the typical daily volume of 405 call options.
Vale (NYSE:VALE) last issued its quarterly earnings results on Thursday, April 27th. The basic materials company reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.07. The business had revenue of $8.52 billion for the quarter. Vale had a return on equity of 16.32% and a net margin of 14.60%. On average, equities research analysts anticipate that Vale will post $1.19 earnings per share for the current year.
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Several hedge funds have recently bought and sold shares of VALE. Wetherby Asset Management Inc. increased its stake in Vale by 6.3% in the first quarter. Wetherby Asset Management Inc. now owns 29,752 shares of the basic materials company’s stock worth $283,000 after buying an additional 1,757 shares during the period. Amerigo Asset Management acquired a new stake in Vale during the first quarter worth $76,950,000. Acadian Asset Management LLC acquired a new stake in Vale during the first quarter worth $67,035,000. Nationwide Fund Advisors acquired a new stake in Vale during the first quarter worth $3,563,000. Finally, Reliance Trust Co. of Delaware increased its stake in Vale by 40.6% in the first quarter. Reliance Trust Co. of Delaware now owns 66,997 shares of the basic materials company’s stock worth $636,000 after buying an additional 19,353 shares during the period. Hedge funds and other institutional investors own 9.03% of the company’s stock.
Vale Company Profile
Vale SA is a global producer of iron ore and iron ore pellets, key raw materials for steelmaking, and producer of nickel. The Company also produces copper, metallurgical and thermal coal, potash, phosphates and other fertilizer nutrients, manganese ore, ferroalloys, platinum group metals, gold, silver and cobalt.
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