Vale SA (VALE) Lowered to Hold at Vetr Inc.
Vetr downgraded shares of Vale SA (NYSE:VALE) from a buy rating to a hold rating in a report published on Tuesday. The brokerage currently has $5.84 price objective on the stock.
VALE has been the subject of a number of other reports. Morgan Stanley upgraded Vale SA from an equal weight rating to an overweight rating and lifted their price objective for the stock from $4.80 to $6.20 in a research report on Tuesday, August 9th. Goldman Sachs Group Inc. began coverage on Vale SA in a research report on Thursday, June 9th. They set a neutral rating and a $4.40 target price for the company. JPMorgan Chase & Co. upgraded Vale SA from a neutral rating to an overweight rating in a research report on Monday, September 12th. Royal Bank Of Canada boosted their target price on Vale SA from $5.50 to $6.00 and gave the stock a sector perform rating in a research report on Thursday, September 8th. Finally, Barclays PLC upgraded Vale SA from an underweight rating to an equal weight rating in a research report on Wednesday, September 21st. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $5.00.
Shares of Vale SA (NYSE:VALE) opened at 5.45 on Tuesday. The stock’s market capitalization is $28.09 billion. The stock has a 50 day moving average of $5.49 and a 200-day moving average of $5.03. Vale SA has a 52-week low of $2.13 and a 52-week high of $6.26.
Several hedge funds have recently added to or reduced their stakes in the company. Scotia Capital Inc. raised its stake in Vale SA by 13.1% in the first quarter. Scotia Capital Inc. now owns 63,280 shares of the company’s stock valued at $267,000 after buying an additional 7,320 shares during the period. LPL Financial LLC raised its stake in Vale SA by 4.2% in the first quarter. LPL Financial LLC now owns 321,495 shares of the company’s stock valued at $1,328,000 after buying an additional 12,910 shares during the period. Capital Growth Management LP bought a new stake in Vale SA during the first quarter valued at about $13,051,000. Adage Capital Partners GP L.L.C. bought a new stake in Vale SA during the first quarter valued at about $21,892,000. Finally, Kiltearn Partners LLP raised its stake in Vale SA by 10.1% in the first quarter. Kiltearn Partners LLP now owns 17,061,693 shares of the company’s stock valued at $71,830,000 after buying an additional 1,560,700 shares during the period. 8.58% of the stock is currently owned by institutional investors.
Vale SA Company Profile
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.
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