BMO Capital Markets set a $8.00 target price on Vale S.A. (NYSE:VALE) in a research note published on Tuesday morning. The firm currently has a hold rating on the basic materials company’s stock.
Several other research firms have also weighed in on VALE. Royal Bank Of Canada set a $11.00 target price on shares of Vale and gave the stock a hold rating in a report on Friday, July 28th. Credit Suisse Group set a $8.00 target price on shares of Vale and gave the stock a hold rating in a report on Thursday, July 27th. Jefferies Group LLC reiterated a hold rating on shares of Vale in a report on Friday, July 28th. BidaskClub upgraded shares of Vale from a buy rating to a strong-buy rating in a report on Wednesday, July 12th. Finally, Cowen and Company reiterated a hold rating and issued a $10.00 target price on shares of Vale in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $8.99.
Vale (VALE) traded down 0.9676% during trading on Tuesday, reaching $10.1013. 17,639,212 shares of the company’s stock traded hands. The firm’s 50 day moving average is $9.00 and its 200 day moving average is $9.28. Vale has a 12 month low of $4.86 and a 12 month high of $11.70. The company has a market cap of $52.06 billion, a P/E ratio of 14.3281 and a beta of 1.55.
Vale (NYSE:VALE) last posted its earnings results on Thursday, July 27th. The basic materials company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The company had revenue of $7.24 billion for the quarter. Vale had a net margin of 11.01% and a return on equity of 16.74%. Analysts anticipate that Vale will post $1.01 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VALE. Raymond James Trust N.A. acquired a new position in Vale during the first quarter worth $101,000. Nine Chapters Capital Management LLC acquired a new position in Vale during the first quarter worth $107,000. Cadinha & Co. LLC acquired a new position in Vale during the first quarter worth $109,000. Wedbush Securities Inc. increased its position in Vale by 0.7% in the second quarter. Wedbush Securities Inc. now owns 12,991 shares of the basic materials company’s stock worth $114,000 after buying an additional 84 shares during the period. Finally, Baldwin Investment Management LLC increased its position in Vale by 0.3% in the second quarter. Baldwin Investment Management LLC now owns 13,701 shares of the basic materials company’s stock worth $120,000 after buying an additional 36 shares during the period. 8.88% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Vale S.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vale S.A. and related companies with MarketBeat.com's FREE daily email newsletter.
