Vale SA (VALE) to Post FY2016 Earnings of $0.40 Per Share, Jefferies Group Forecasts
Vale SA (NASDAQ:VALE) – Jefferies Group boosted their FY2016 earnings estimates for shares of Vale SA in a research note issued to investors on Friday. Jefferies Group analyst C. Lafemina now forecasts that the brokerage will post earnings of $0.40 per share for the year, up from their prior forecast of $0.30. Jefferies Group currently has a “Hold” rating and a $6.00 target price on the stock. Jefferies Group also issued estimates for Vale SA’s FY2018 earnings at $0.80 EPS.
VALE has been the topic of a number of other reports. Barclays PLC upgraded Vale SA from an “underweight” rating to an “equal weight” rating and set a $5.11 price objective on the stock in a research report on Wednesday, September 21st. Royal Bank Of Canada boosted their price objective on Vale SA from $5.50 to $6.00 and gave the company a “sector perform” rating in a research report on Thursday, September 8th. Morgan Stanley upgraded Vale SA from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $4.80 to $6.20 in a research report on Tuesday, August 9th. HSBC restated a “hold” rating and set a $6.00 price objective on shares of Vale SA in a research report on Thursday, September 29th. Finally, Vetr upgraded Vale SA from a “hold” rating to a “buy” rating in a research report on Saturday. Seven research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $5.77.
Vale SA (NASDAQ:VALE) opened at 5.84 on Monday. Vale SA has a one year low of $2.13 and a one year high of $6.26. The stock’s 50 day moving average price is $5.46 and its 200-day moving average price is $5.14. The firm’s market capitalization is $30.10 billion.
A number of institutional investors have recently bought and sold shares of VALE. Krasney Financial LLC acquired a new position in Vale SA during the second quarter worth approximately $104,000. Charlemagne Capital Ltd. raised its position in Vale SA by 26.2% in the second quarter. Charlemagne Capital Ltd. now owns 22,010 shares of the company’s stock worth $112,000 after buying an additional 4,573 shares in the last quarter. Wetherby Asset Management Inc. raised its position in Vale SA by 9.4% in the second quarter. Wetherby Asset Management Inc. now owns 23,752 shares of the company’s stock worth $120,000 after buying an additional 2,047 shares in the last quarter. Glenmede Trust Co. NA raised its position in Vale SA by 4.4% in the second quarter. Glenmede Trust Co. NA now owns 27,050 shares of the company’s stock worth $136,000 after buying an additional 1,131 shares in the last quarter. Finally, RNC Capital Management LLC acquired a new position in Vale SA during the second quarter worth approximately $142,000.
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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