Vale S.A. (NYSE:VALE) was downgraded by investment analysts at TheStreet from a “b-” rating to a “c+” rating in a note issued to investors on Thursday.
Other equities research analysts have also recently issued reports about the company. Vetr cut Vale from a “strong-buy” rating to a “buy” rating and set a $9.51 target price for the company. in a research note on Monday, May 29th. HSBC Holdings plc raised Vale from a “hold” rating to a “buy” rating and lifted their target price for the company from $8.67 to $8.76 in a research note on Wednesday, May 31st. Deutsche Bank AG reissued a “buy” rating and issued a $12.00 target price (down from $12.50) on shares of Vale in a research note on Sunday, June 25th. BidaskClub cut Vale from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $11.00 target price on shares of Vale in a research note on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $9.16.
Shares of Vale (VALE) traded up 3.19% on Thursday, reaching $10.03. The company had a trading volume of 30,590,506 shares. Vale has a 12 month low of $4.86 and a 12 month high of $11.70. The company’s 50-day moving average is $9.50 and its 200 day moving average is $9.25. The firm has a market capitalization of $51.69 billion, a PE ratio of 14.35 and a beta of 1.55. Vale also saw some unusual options trading on Wednesday. Stock traders bought 32,429 call options on the stock. This is an increase of 541% compared to the average daily volume of 5,058 call options.
Vale (NYSE:VALE) last released its earnings results on Thursday, July 27th. The basic materials company reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The company had revenue of $7.24 billion during the quarter. Vale had a return on equity of 16.74% and a net margin of 11.01%. Equities analysts forecast that Vale will post $1.04 earnings per share for the current year.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in Vale during the fourth quarter valued at $6,804,000. Raymond James Trust N.A. acquired a new position in Vale during the first quarter valued at $101,000. Fox Run Management L.L.C. acquired a new position in Vale during the first quarter valued at $174,000. Nationwide Fund Advisors acquired a new position in Vale during the first quarter valued at $3,563,000. Finally, Acadian Asset Management LLC acquired a new position in Vale during the first quarter valued at $67,035,000. Hedge funds and other institutional investors own 8.76% of the company’s stock.
About Vale
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.
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