Vale S.A. (VALE) Upgraded to “B-” at TheStreet
Vale S.A. (NYSE:VALE) was upgraded by equities researchers at TheStreet from a “c+” rating to a “b-” rating in a report issued on Wednesday.
Other equities research analysts have also issued research reports about the stock. Cowen and Company reaffirmed a “hold” rating and issued a $10.00 target price on shares of Vale in a report on Friday, July 14th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $11.70 target price on shares of Vale in a report on Monday, September 25th. BidaskClub lowered shares of Vale from a “buy” rating to a “hold” rating in a report on Friday, September 22nd. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating on shares of Vale in a report on Monday, October 23rd. Finally, Jefferies Group LLC reissued a “hold” rating and set a $8.50 price objective on shares of Vale in a report on Friday, July 14th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Vale currently has a consensus rating of “Hold” and a consensus price target of $10.06.
Shares of Vale (VALE) traded down $0.06 during mid-day trading on Wednesday, hitting $10.07. 21,890,900 shares of the stock were exchanged, compared to its average volume of 28,981,114. Vale has a 52 week low of $6.85 and a 52 week high of $11.72. The firm has a market cap of $51,894.48, a PE ratio of 6.63, a price-to-earnings-growth ratio of 0.61 and a beta of 1.56. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.52.
Vale (NYSE:VALE) last announced its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.15. Vale had a net margin of 15.25% and a return on equity of 19.02%. The company had revenue of $9.05 billion during the quarter. research analysts forecast that Vale will post 1.25 EPS for the current year.
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A number of hedge funds have recently made changes to their positions in VALE. Balyasny Asset Management LLC acquired a new stake in Vale during the 2nd quarter worth approximately $42,373,000. Acadian Asset Management LLC grew its stake in shares of Vale by 55.2% during the 2nd quarter. Acadian Asset Management LLC now owns 10,948,983 shares of the basic materials company’s stock worth $95,804,000 after acquiring an additional 3,892,825 shares in the last quarter. Trilogy Global Advisors LP bought a new position in shares of Vale during the 2nd quarter worth approximately $30,124,000. Key Group Holdings Cayman LTD. bought a new position in shares of Vale during the 2nd quarter worth approximately $15,903,000. Finally, NINE MASTS CAPITAL Ltd grew its stake in shares of Vale by 201.4% during the 2nd quarter. NINE MASTS CAPITAL Ltd now owns 2,415,425 shares of the basic materials company’s stock worth $21,135,000 after acquiring an additional 1,613,942 shares in the last quarter. Hedge funds and other institutional investors own 9.73% 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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