Vale S.A. (VALE) Receives Average Recommendation of “Buy” from Analysts
Shares of Vale S.A. (NYSE:VALE) have earned a consensus recommendation of “Buy” from the twenty-two analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $9.87.
Several equities research analysts have recently weighed in on the company. Deutsche Bank AG reissued a “buy” rating and set a $12.00 target price (down previously from $12.50) on shares of Vale in a research report on Sunday, June 25th. BMO Capital Markets reissued a “hold” rating and set a $10.00 target price on shares of Vale in a research report on Friday, June 2nd. Credit Suisse Group set a $8.00 target price on Vale and gave the stock a “hold” rating in a research report on Sunday, May 28th. HSBC Holdings plc raised Vale from a “hold” rating to a “buy” rating and raised their target price for the stock from $8.67 to $8.76 in a research report on Wednesday, May 31st. Finally, Clarkson Capital reissued a “neutral” rating on shares of Vale in a research report on Monday, July 10th.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Trust N.A. increased its position in Vale by 8.4% during the second quarter. Raymond James Trust N.A. now owns 11,560 shares of the basic materials company’s stock worth $101,000 after buying an additional 893 shares during the period. Verition Fund Management LLC acquired a new position in shares of Vale in the second quarter valued at approximately $107,000. Wedbush Securities Inc. increased its holdings in shares of Vale by 0.7% in the second quarter. Wedbush Securities Inc. now owns 12,991 shares of the basic materials company’s stock valued at $114,000 after purchasing an additional 84 shares during the period. Baldwin Investment Management LLC increased its holdings 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 purchasing an additional 36 shares during the period. Finally, HRT Financial LLC acquired a new position in shares of Vale in the first quarter valued at approximately $132,000. 9.58% of the stock is currently owned by institutional investors.
Vale (NYSE:VALE) opened at 10.85 on Friday. The stock’s 50 day moving average is $10.46 and its 200 day moving average is $9.30. The firm has a market cap of $55.91 billion, a P/E ratio of 15.59 and a beta of 1.56. Vale has a 12-month low of $5.04 and a 12-month high of $11.72.
Vale (NYSE:VALE) last announced its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. The business had revenue of $7.24 billion during the quarter. Vale had a return on equity of 16.74% and a net margin of 11.01%. On average, equities research analysts expect that Vale will post $1.17 EPS for the current year.
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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