BMO Capital Markets Reiterates “$8.00” Price Target for Vale S.A. (NYSE:VALE)
Vale S.A. (NYSE:VALE) has been assigned a $8.00 price objective by investment analysts at BMO Capital Markets in a research note issued on Tuesday. The firm currently has a “hold” rating on the basic materials company’s stock. BMO Capital Markets’ target price suggests a potential downside of 21.57% from the company’s current price.
Other equities analysts have also recently issued research reports about the company. TheStreet upgraded Vale from a “c+” rating to a “b-” rating in a report on Tuesday, May 23rd. Vetr lowered Vale from a “strong-buy” rating to a “buy” rating and set a $9.51 target price for the company. in a research report on Monday, May 29th. HSBC Holdings plc raised Vale from a “hold” rating to a “buy” rating and lifted their target price for the company from $8.67 to $8.76 in a research report on Wednesday, May 31st. Deutsche Bank AG reaffirmed a “buy” rating and set a $12.00 target price (down from $12.50) on shares of Vale in a research report on Sunday, June 25th. Finally, BidaskClub lowered Vale from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $8.99.
Vale (VALE) traded down 1.45% during trading on Tuesday, reaching $10.20. The company’s stock had a trading volume of 44,404,926 shares. The firm’s 50-day moving average price is $9.00 and its 200 day moving average price is $9.28. Vale has a 12-month low of $4.86 and a 12-month high of $11.70. The company has a market capitalization of $52.56 billion, a P/E ratio of 14.45 and a beta of 1.55.
Vale (NYSE:VALE) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. Vale had a return on equity of 16.74% and a net margin of 11.01%. The company had revenue of $7.24 billion during the quarter. On average, analysts predict that Vale will post $1.01 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in VALE. Raymond James Trust N.A. acquired a new position in shares of Vale during the first quarter valued at about $101,000. Nine Chapters Capital Management LLC acquired a new position in shares of Vale during the first quarter valued at about $107,000. Cadinha & Co. LLC acquired a new position in shares of Vale during the first quarter valued at about $109,000. Wedbush Securities Inc. raised its position in shares of Vale by 19.2% in the first quarter. Wedbush Securities Inc. now owns 12,907 shares of the basic materials company’s stock valued at $123,000 after buying an additional 2,075 shares in the last quarter. Finally, Baldwin Investment Management LLC raised its position in shares of Vale by 0.3% in the second quarter. Baldwin Investment Management LLC now owns 13,701 shares of the basic materials company’s stock valued at $120,000 after buying an additional 36 shares in the last quarter. 8.88% of the stock is currently owned by institutional investors.
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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