Vale SA (VALE) Upgraded by Vetr Inc. to Buy
Vetr upgraded shares of Vale SA (NYSE:VALE) from a hold rating to a buy rating in a research report report published on Wednesday. The brokerage currently has $6.06 price objective on the stock.
Other equities research analysts also recently issued reports about the stock. Barclays PLC raised shares of Vale SA from an underweight rating to an equal weight rating in a research note on Wednesday, September 21st. Morgan Stanley raised shares of Vale SA from an equal weight rating to an overweight rating and lifted their price target for the stock from $4.80 to $6.20 in a research note on Tuesday, August 9th. JPMorgan Chase & Co. raised shares of Vale SA from a neutral rating to an overweight rating in a research note on Monday, September 12th. Finally, Royal Bank Of Canada lifted their price target on shares of Vale SA from $5.50 to $6.00 and gave the stock a sector perform rating in a research note on Thursday, September 8th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Hold and an average price target of $5.01.
Vale SA (NYSE:VALE) opened at 5.59 on Wednesday. The company’s 50-day moving average is $5.45 and its 200 day moving average is $5.09. Vale SA has a 52 week low of $2.13 and a 52 week high of $6.26. The company’s market capitalization is $28.81 billion.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Scotia Capital Inc. increased 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 in the last quarter. LPL Financial LLC increased 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 in the last quarter. Capital Growth Management LP purchased a new position in Vale SA during the first quarter worth approximately $13,051,000. Adage Capital Partners GP L.L.C. purchased a new position in Vale SA during the first quarter worth approximately $21,892,000. Finally, Kiltearn Partners LLP increased 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 in the last quarter. Hedge funds and other institutional investors own 8.58% of the company’s stock.
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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