Vale (VALE) Earns “Buy” Rating from Credit Suisse Group

Vale (NYSE:VALE)‘s stock had its “buy” rating reissued by equities research analysts at Credit Suisse Group in a report issued on Wednesday. They presently have a $16.00 price target on the basic materials company’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 22.04% from the company’s current price.

A number of other equities analysts also recently issued reports on VALE. Jefferies Group reaffirmed a “hold” rating on shares of Vale in a research report on Tuesday, October 3rd. Royal Bank of Canada set a $11.00 price target on Vale and gave the stock a “hold” rating in a research report on Tuesday, October 10th. Goldman Sachs Group reaffirmed a “neutral” rating on shares of Vale in a research report on Monday, October 23rd. Zacks Investment Research raised Vale from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Wednesday, October 18th. Finally, Deutsche Bank downgraded Vale from a “buy” rating to a “hold” rating and upped their price target for the stock from $12.00 to $12.50 in a research report on Tuesday, January 16th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $11.79.

Shares of Vale (NYSE VALE) traded up $0.16 during mid-day trading on Wednesday, hitting $13.11. The stock had a trading volume of 28,822,183 shares, compared to its average volume of 23,280,000. The firm has a market capitalization of $69,480.00, a P/E ratio of 9.78, a PEG ratio of 0.88 and a beta of 1.59. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.47 and a current ratio of 1.86. Vale has a 1-year low of $7.47 and a 1-year high of $13.57.

Vale (NYSE:VALE) last issued its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.15. The business had revenue of $9.05 billion for the quarter. Vale had a return on equity of 19.02% and a net margin of 15.25%. sell-side analysts forecast that Vale will post 1.24 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VALE. Alliancebernstein L.P. increased its position in shares of Vale by 15.2% in the 2nd quarter. Alliancebernstein L.P. now owns 241,892 shares of the basic materials company’s stock valued at $2,117,000 after acquiring an additional 31,835 shares during the period. Lazard Asset Management LLC increased its position in shares of Vale by 17.6% in the 2nd quarter. Lazard Asset Management LLC now owns 75,007 shares of the basic materials company’s stock valued at $656,000 after acquiring an additional 11,200 shares during the period. Quantbot Technologies LP acquired a new position in shares of Vale in the 2nd quarter valued at $680,000. Teachers Retirement System of The State of Kentucky increased its position in shares of Vale by 9.7% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 328,500 shares of the basic materials company’s stock valued at $2,874,000 after acquiring an additional 29,000 shares during the period. Finally, Frontier Wealth Management LLC acquired a new position in shares of Vale in the 2nd quarter valued at $182,000. 18.88% of the stock is currently owned by hedge funds and other institutional investors.

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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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