Vale (VALE) Downgraded by Morgan Stanley

Vale (NYSE:VALE) was downgraded by equities research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Thursday, The Fly reports.

Several other equities analysts also recently commented on the company. Barclays set a $16.00 price objective on Vale and gave the company a “buy” rating in a research note on Thursday, January 10th. Exane BNP Paribas downgraded Vale from a “neutral” rating to an “underperform” rating in a research note on Thursday, January 24th. ValuEngine downgraded Vale from a “buy” rating to a “hold” rating in a research note on Friday, November 23rd. UBS Group upgraded Vale from a “sell” rating to a “neutral” rating in a research note on Wednesday, October 31st. Finally, Citigroup downgraded Vale from a “buy” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a research note on Monday, October 29th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $14.42.

Vale stock opened at $11.36 on Thursday. Vale has a 12 month low of $11.08 and a 12 month high of $16.13. The company has a current ratio of 1.65, a quick ratio of 1.21 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $63.19 billion, a P/E ratio of 8.41 and a beta of 1.14.

A number of hedge funds have recently modified their holdings of VALE. Advisors Asset Management Inc. raised its holdings in Vale by 93.9% during the 2nd quarter. Advisors Asset Management Inc. now owns 76,033 shares of the basic materials company’s stock valued at $975,000 after acquiring an additional 36,816 shares during the period. United Services Automobile Association raised its holdings in Vale by 27.1% during the 2nd quarter. United Services Automobile Association now owns 18,763 shares of the basic materials company’s stock valued at $241,000 after acquiring an additional 3,999 shares during the period. State of New Jersey Common Pension Fund D raised its holdings in Vale by 36.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 1,070,029 shares of the basic materials company’s stock valued at $15,879,000 after acquiring an additional 288,519 shares during the period. Cookson Peirce & Co. Inc. raised its holdings in Vale by 0.9% during the 3rd quarter. Cookson Peirce & Co. Inc. now owns 1,143,370 shares of the basic materials company’s stock valued at $16,968,000 after acquiring an additional 9,900 shares during the period. Finally, Aperio Group LLC raised its holdings in Vale by 13.2% during the 3rd quarter. Aperio Group LLC now owns 472,976 shares of the basic materials company’s stock valued at $7,019,000 after acquiring an additional 55,187 shares during the period. 19.90% of the stock is currently owned by institutional investors and hedge funds.

Vale Company Profile

Vale SA, together with its subsidiaries, produces and sells iron ore and iron ore pellets for use as raw materials in steelmaking in Brazil and internationally. It operates through Ferrous Minerals, Coal, and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and others ferrous products and services, as well as engages in the provision of related railroad, port, and terminal logistics services.

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