TheStreet Lowers Vale S.A. (VALE) to C+
Vale S.A. (NYSE:VALE) was downgraded by TheStreet from a “b-” rating to a “c+” rating in a research report issued to clients and investors on Thursday.
Several other equities analysts have also weighed in on VALE. Credit Suisse Group set a $8.00 price objective on shares of Vale and gave the company a “hold” rating in a research report on Sunday, May 28th. Jefferies Group LLC set a $8.00 price objective on shares of Vale and gave the company a “hold” rating in a research report on Thursday, June 8th. BMO Capital Markets set a $8.00 price objective on shares of Vale and gave the company a “hold” rating in a research report on Tuesday, August 8th. BidaskClub lowered shares of Vale from a “hold” rating to a “sell” rating in a research report on Saturday, June 17th. Finally, Cowen and Company reissued a “hold” rating and issued a $10.00 price objective on shares of Vale in a research report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $9.16.
Shares of Vale (NYSE VALE) opened at 10.03 on Thursday. The firm has a 50-day moving average of $9.50 and a 200 day moving average of $9.25. The firm has a market capitalization of $51.69 billion, a price-to-earnings ratio of 14.23 and a beta of 1.55. Vale has a 52-week low of $4.86 and a 52-week high of $11.70. Vale also was the recipient of unusually large options trading activity on Wednesday. Traders purchased 32,429 call options on the stock. This is an increase of 541% compared to the typical daily volume of 5,058 call options.
Vale (NYSE:VALE) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The firm had revenue of $7.24 billion for the quarter. Vale had a net margin of 11.01% and a return on equity of 16.74%. Analysts predict that Vale will post $1.04 EPS for the current year.
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A number of large investors have recently made changes to their positions in the company. Silchester International Investors LLP increased its stake in shares of Vale by 36.9% in the fourth quarter. Silchester International Investors LLP now owns 105,026,621 shares of the basic materials company’s stock worth $345,538,000 after buying an additional 28,286,720 shares during the last quarter. Capital Growth Management LP increased its stake in Vale by 16.7% in the first quarter. Capital Growth Management LP now owns 20,250,000 shares of the basic materials company’s stock worth $192,375,000 after buying an additional 2,900,000 shares during the last quarter. Kiltearn Partners LLP increased its stake in Vale by 10.1% in the first quarter. Kiltearn Partners LLP now owns 17,061,693 shares of the basic materials company’s stock worth $71,830,000 after buying an additional 1,560,700 shares during the last quarter. Balyasny Asset Management LLC bought a new stake in Vale during the fourth quarter worth $51,447,000. Finally, Acadian Asset Management LLC increased its stake in Vale by 55.2% in the second quarter. Acadian Asset Management LLC now owns 10,948,983 shares of the basic materials company’s stock worth $95,804,000 after buying an additional 3,892,825 shares during the last quarter. Hedge funds and other institutional investors own 8.76% of the company’s stock.
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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