Vale (VALE) Given a $16.00 Price Target at Barclays

Vale (NYSE:VALE) has been given a $16.00 price objective by analysts at Barclays in a research note issued to investors on Thursday. The firm currently has a “buy” rating on the basic materials company’s stock. Barclays‘s target price indicates a potential upside of 13.39% from the stock’s current price.

Several other brokerages also recently commented on VALE. Zacks Investment Research raised shares of Vale from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Monday, October 15th. Deutsche Bank set a $15.00 target price on shares of Vale and gave the stock a “hold” rating in a research note on Tuesday, October 2nd. UBS Group raised shares of Vale from a “sell” rating to a “neutral” rating in a research note on Wednesday, October 31st. Macquarie downgraded shares of Vale from an “outperform” rating to a “neutral” rating in a research note on Tuesday, September 25th. Finally, ValuEngine raised shares of Vale from a “hold” rating to a “buy” rating in a research note on Friday, September 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $15.50.

Shares of NYSE VALE traded down $0.29 during mid-day trading on Thursday, hitting $14.11. The stock had a trading volume of 17,441,254 shares, compared to its average volume of 25,761,807. The company has a quick ratio of 1.21, a current ratio of 1.65 and a debt-to-equity ratio of 0.37. Vale has a 1 year low of $11.93 and a 1 year high of $16.13. The company has a market cap of $75.71 billion, a price-to-earnings ratio of 10.45 and a beta of 1.37.

Vale (NYSE:VALE) last issued its earnings results on Wednesday, October 24th. The basic materials company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.35 by $0.04. Vale had a net margin of 10.70% and a return on equity of 17.87%. The company had revenue of $9.54 billion for the quarter, compared to the consensus estimate of $8.97 billion. Equities research analysts anticipate that Vale will post 1.58 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in VALE. Capital International Investors boosted its stake in Vale by 0.3% in the 3rd quarter. Capital International Investors now owns 73,497,290 shares of the basic materials company’s stock worth $1,090,700,000 after purchasing an additional 213,482 shares in the last quarter. Capital World Investors raised its position in Vale by 75.2% in the 3rd quarter. Capital World Investors now owns 70,821,980 shares of the basic materials company’s stock worth $1,050,998,000 after buying an additional 30,406,538 shares during the last quarter. Fisher Asset Management LLC raised its position in Vale by 108.7% in the 3rd quarter. Fisher Asset Management LLC now owns 34,121,206 shares of the basic materials company’s stock worth $506,359,000 after buying an additional 17,769,298 shares during the last quarter. OppenheimerFunds Inc. raised its position in Vale by 4.0% in the 3rd quarter. OppenheimerFunds Inc. now owns 30,285,160 shares of the basic materials company’s stock worth $449,432,000 after buying an additional 1,158,612 shares during the last quarter. Finally, FIL Ltd raised its position in Vale by 45.5% in the 3rd quarter. FIL Ltd now owns 8,216,693 shares of the basic materials company’s stock worth $121,935,000 after buying an additional 2,571,338 shares during the last quarter. Hedge funds and other institutional investors own 19.85% of the company’s stock.

About Vale

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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