Vale (NYSE:VALE) was upgraded by stock analysts at Credit Suisse Group from a “neutral” rating to an “outperform” rating in a report released on Tuesday, Marketbeat Ratings reports. The firm presently has a $15.00 price target on the basic materials company’s stock, up from their prior price target of $11.32. Credit Suisse Group’s target price suggests a potential upside of 32.51% from the company’s current price.

Several other brokerages have also recently issued reports on VALE. Sandler O’Neill upgraded shares of Vale from a “hold” rating to a “buy” rating in a report on Wednesday, September 13th. Santander upgraded shares of Vale from a “hold” rating to a “buy” rating in a research note on Tuesday, September 12th. Morgan Stanley upgraded shares of Vale from an “equal weight” rating to an “overweight” rating and set a $12.00 price target on the stock in a research note on Monday, November 27th. UBS upgraded shares of Vale from a “hold” rating to a “buy” rating in a research note on Tuesday, November 28th. Finally, BidaskClub cut shares of Vale from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 15th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $10.83.

Shares of Vale (VALE) traded up $0.42 during mid-day trading on Tuesday, reaching $11.32. 43,755,500 shares of the company traded hands, compared to its average volume of 28,514,740. Vale has a 52 week low of $7.47 and a 52 week high of $11.72. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $56,171.79, a PE ratio of 7.17, a P/E/G ratio of 0.67 and a beta of 1.57.

Vale (NYSE:VALE) last issued its earnings results on Thursday, October 26th. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 for the quarter. analysts predict that Vale will post 1.25 EPS for the current year.

Several hedge funds have recently made changes to their positions in VALE. Raymond James Trust N.A. raised its position in shares of Vale by 8.4% during the 2nd quarter. Raymond James Trust N.A. now owns 11,560 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 893 shares during the period. Verition Fund Management LLC bought a new stake in Vale in the 2nd quarter valued at $107,000. Wedbush Securities Inc. increased its holdings in Vale by 0.7% in the 2nd 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 last quarter. Baldwin Investment Management LLC increased its holdings in Vale by 0.3% in the 2nd 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 last quarter. Finally, Private Advisor Group LLC bought a new stake in Vale in the 2nd quarter valued at $127,000. Hedge funds and other institutional investors own 20.37% of the company’s stock.

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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.

Analyst Recommendations for Vale (NYSE:VALE)

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