Vale S.A. (NYSE:VALE) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Vale S.A. (NYSE:VALE) posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01, Morningstar.com reports. The firm had revenue of $7.24 billion during the quarter. Vale had a net margin of 11.01% and a return on equity of 16.74%.

Shares of Vale (VALE) traded down 1.57% during mid-day trading on Wednesday, reaching $10.04. 28,459,231 shares of the company were exchanged. Vale has a 12 month low of $4.86 and a 12 month high of $11.70. The stock has a market capitalization of $51.74 billion, a P/E ratio of 14.24 and a beta of 1.55. The stock has a 50 day moving average price of $9.00 and a 200-day moving average price of $9.28.

Several research firms recently commented on VALE. Credit Suisse Group set a $8.00 price objective on shares of Vale and gave the stock a “hold” rating in a research note on Sunday, May 28th. Jefferies Group LLC set a $10.00 price objective on shares of Vale and gave the stock a “hold” rating in a research note on Friday, May 19th. HSBC Holdings plc reiterated a “hold” rating and set a $10.00 price objective (down previously from $10.25) on shares of Vale in a research note on Wednesday, May 17th. Vetr lowered shares of Vale from a “strong-buy” rating to a “buy” rating and set a $9.51 price target on the stock. in a research note on Monday, May 29th. Finally, Clarkson Capital restated a “neutral” rating on shares of Vale in a research note on Monday, July 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $8.99.

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Several institutional investors have recently made changes to their positions in VALE. Commerzbank Aktiengesellschaft FI boosted its position in shares of Vale by 17.0% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 878,447 shares of the basic materials company’s stock worth $7,686,000 after buying an additional 127,916 shares during the last quarter. Todd Asset Management LLC boosted its position in shares of Vale by 9.7% in the second quarter. Todd Asset Management LLC now owns 328,500 shares of the basic materials company’s stock valued at $2,874,000 after buying an additional 29,000 shares in the last quarter. Baldwin Investment Management LLC boosted its position in shares of Vale by 0.3% in the second quarter. Baldwin Investment Management LLC now owns 13,701 shares of the basic materials company’s stock valued at $120,000 after buying an additional 36 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Vale during the second quarter valued at about $216,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Vale by 77.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,000 shares of the basic materials company’s stock valued at $542,000 after buying an additional 27,000 shares in the last quarter. 8.88% of the stock is currently 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.