Vale SA (NYSE:VALE) was upgraded by research analysts at Vetr from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm currently has a $6.06 price target on the stock. Vetr‘s price objective points to a potential upside of 4.12% from the stock’s current price.
Several other equities analysts have also weighed in on VALE. Barclays PLC upgraded Vale SA from an “underweight” rating to an “equal weight” rating in a report on Wednesday, September 21st. Royal Bank Of Canada raised their target price on Vale SA from $5.50 to $6.00 and gave the company a “sector perform” rating in a report on Thursday, September 8th. JPMorgan Chase & Co. upgraded Vale SA from a “neutral” rating to an “overweight” rating in a report on Monday, September 12th. Finally, Morgan Stanley upgraded Vale SA from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $4.80 to $6.20 in a report on Tuesday, August 9th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $5.01.
Shares of Vale SA (NYSE:VALE) traded up 0.69% during mid-day trading on Wednesday, reaching $5.82. The company’s stock had a trading volume of 24,206,242 shares. Vale SA has a 12 month low of $2.13 and a 12 month high of $6.26. The company has a 50 day moving average price of $5.45 and a 200 day moving average price of $5.09. The stock’s market capitalization is $29.99 billion.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. purchased a new position in Vale SA during the first quarter worth about $21,892,000. Capital Growth Management LP purchased a new position in Vale SA during the first quarter worth about $13,051,000. Kiltearn Partners LLP boosted its position in Vale SA by 10.1% in the first quarter. Kiltearn Partners LLP now owns 17,061,693 shares of the company’s stock worth $71,830,000 after buying an additional 1,560,700 shares during the period. LPL Financial LLC boosted its position in Vale SA by 4.2% in the first quarter. LPL Financial LLC now owns 321,495 shares of the company’s stock worth $1,328,000 after buying an additional 12,910 shares during the period. Finally, Scotia Capital Inc. boosted its position in Vale SA by 13.1% in the first quarter. Scotia Capital Inc. now owns 63,280 shares of the company’s stock worth $267,000 after buying an additional 7,320 shares during the period. Institutional investors own 8.58% of the company’s stock.
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.