Vale SA (NYSE:VALE) was downgraded by equities research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday. They currently have a $8.27 price target on the stock. Vetr‘s price target would indicate a potential downside of 1.78% from the stock’s current price.
A number of other analysts also recently issued reports on the company. Citigroup Inc. upgraded Vale SA from a “sell” rating to a “neutral” rating and lifted their price target for the company from $4.40 to $7.30 in a research report on Tuesday, November 1st. Itau Unibanco Holding S.A. upgraded Vale SA to a “buy” rating in a research report on Thursday, October 20th. Itau BBA Securities upgraded Vale SA from a “market perform” rating to an “outperform” rating in a research report on Thursday, October 20th. Jefferies Group set a $6.00 target price on Vale SA and gave the stock a “hold” rating in a research report on Sunday, October 16th. Finally, HSBC restated a “hold” rating and issued a $6.00 target price on shares of Vale SA in a research report on Thursday, September 29th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $5.75.
Vale SA (NYSE:VALE) traded up 0.36% during trading on Tuesday, hitting $8.42. The company’s stock had a trading volume of 24,372,907 shares. Vale SA has a 12 month low of $2.13 and a 12 month high of $8.44. The firm’s market cap is $43.39 billion. The firm has a 50 day moving average of $6.73 and a 200 day moving average of $5.51.
Vale SA (NYSE:VALE) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.06. Vale SA had a positive return on equity of 2.90% and a negative net margin of 19.99%. Equities research analysts predict that Vale SA will post $0.76 earnings per share for the current year.
A hedge fund recently raised its stake in Vale SA stock. LPL Financial LLC raised its position in shares of Vale SA (NYSE:VALE) by 4.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 321,495 shares of the company’s stock after buying an additional 12,910 shares during the period. LPL Financial LLC’s holdings in Vale SA were worth $1,328,000 as of its most recent SEC filing. 8.31% of the stock is owned by institutional investors.
About Vale SA
Vale SA (Vale) is a metals and mining company. The Company is also a producer of iron ore and iron ore pellets, and nickel. The Company’s segments include Ferrous minerals, Coal, Base metals, Fertilizers and Others. Its Ferrous minerals segment consists of the production and extraction of ferrous minerals, as iron ore, pellets and its logistic services, manganese and ferroalloys, and other ferrous products and services.