Morgan Stanley Reaffirms Equal Weight Rating for Vale S.A. (VALE)
Vale S.A. (NYSE:VALE)‘s stock had its “equal weight” rating reissued by analysts at Morgan Stanley in a research report issued to clients and investors on Monday.
A number of other equities analysts have also recently weighed in on VALE. Zacks Investment Research cut Vale from a “hold” rating to a “sell” rating in a report on Monday, May 29th. Credit Suisse Group set a $8.00 price target on Vale and gave the stock a “hold” rating in a report on Sunday, May 28th. Vetr cut Vale from a “strong-buy” rating to a “buy” rating and set a $9.51 price target for the company. in a report on Monday, May 29th. HSBC Holdings plc raised Vale from a “hold” rating to a “buy” rating and boosted their price target for the stock from $8.67 to $8.76 in a report on Wednesday, May 31st. Finally, BMO Capital Markets reissued a “hold” rating and issued a $10.00 price target on shares of Vale in a report on Friday, June 2nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $9.67.
Vale (NYSE:VALE) last released its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.18 earnings per share for the quarter, topping 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.
A number of hedge funds have recently bought and sold shares of VALE. Raymond James Trust N.A. grew 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 valued at $101,000 after acquiring an additional 893 shares during the period. Verition Fund Management LLC purchased a new stake in Vale during the second quarter valued at about $107,000. Wedbush Securities Inc. grew its position in Vale by 0.7% during the second quarter. Wedbush Securities Inc. now owns 12,991 shares of the basic materials company’s stock valued at $114,000 after acquiring an additional 84 shares during the period. Baldwin Investment Management LLC grew its position in Vale by 0.3% during the second quarter. Baldwin Investment Management LLC now owns 13,701 shares of the basic materials company’s stock valued at $120,000 after acquiring an additional 36 shares during the period. Finally, Private Advisor Group LLC purchased a new stake in Vale during the second quarter valued at about $127,000. 9.57% of the stock is owned by hedge funds and other institutional investors.
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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