Vale SA (NYSE:VALE) has earned an average rating of “Buy” from the seventeen ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $15.14.
A number of research firms have recently issued reports on VALE. Macquarie raised their target price on shares of Vale from $14.75 to $15.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 11th. Citigroup cut shares of Vale from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a research note on Monday, October 29th. UBS Group upgraded shares of Vale from a “neutral” rating to an “outperform” rating in a research note on Monday, September 17th. BMO Capital Markets set a $16.00 target price on shares of Vale and gave the stock a “buy” rating in a research note on Monday, July 30th. Finally, Zacks Investment Research upgraded shares of Vale from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Wednesday, August 22nd.
A number of institutional investors have recently modified their holdings of VALE. Principal Financial Group Inc. raised its stake in Vale by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 457,650 shares of the basic materials company’s stock worth $5,821,000 after purchasing an additional 11,537 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Vale by 9.8% in the 1st quarter. Allianz Asset Management GmbH now owns 521,119 shares of the basic materials company’s stock valued at $6,628,000 after buying an additional 46,405 shares during the period. Bank of Montreal Can bought a new position in Vale in the 2nd quarter valued at about $5,318,000. Fox Run Management L.L.C. increased its holdings in Vale by 82.0% in the 2nd quarter. Fox Run Management L.L.C. now owns 44,814 shares of the basic materials company’s stock valued at $575,000 after buying an additional 20,189 shares during the period. Finally, Calamos Advisors LLC bought a new position in Vale in the 2nd quarter valued at about $4,231,000. Institutional investors and hedge funds own 20.21% of the company’s stock.
Vale (NYSE:VALE) last posted its earnings results on Wednesday, October 24th. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. The company had revenue of $9.54 billion during the quarter, compared to analysts’ expectations of $8.97 billion. Vale had a net margin of 10.70% and a return on equity of 17.87%. As a group, analysts predict that Vale will post 1.59 EPS for the current fiscal year.
Vale SA, together with its subsidiaries, produces and sells iron ore and iron ore pallets for use as raw materials in steelmaking in Brazil and internationally. It operates through Ferrous Minerals, Coal, and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and others ferrous products and services, as well as engages in the provision of related railroad, port, and terminal logistics services.
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