Vale SA (VALE) Receives $5.93 Average PT from Brokerages
Vale SA (NASDAQ:VALE) has been given an average recommendation of “Buy” by the fifteen brokerages that are presently covering the company. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $5.93.
Several analysts recently weighed in on the stock. Vetr raised shares of Vale SA from a “hold” rating to a “buy” rating in a report on Saturday, October 15th. Itau Unibanco Holding S.A. raised shares of Vale SA to a “buy” rating in a report on Thursday, October 20th. Morgan Stanley raised shares of Vale SA from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $4.80 to $6.20 in a report on Tuesday, August 9th. Barclays PLC raised shares of Vale SA from an “underweight” rating to an “equal weight” rating and set a $5.11 target price on the stock in a report on Wednesday, September 21st. Finally, HSBC reaffirmed a “hold” rating and issued a $6.00 target price on shares of Vale SA in a report on Thursday, September 29th.
Shares of Vale SA (NASDAQ:VALE) opened at 7.31 on Tuesday. Vale SA has a 52-week low of $2.13 and a 52-week high of $8.10. The firm’s 50-day moving average is $6.42 and its 200 day moving average is $5.42. The stock’s market cap is $37.67 billion.
Vale SA (NASDAQ:VALE) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.06. Analysts forecast that Vale SA will post $0.76 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the company. Brandes Investment Partners LP acquired a new position in shares of Vale SA during the second quarter worth about $246,000. Glenmede Trust Co. NA raised its position in shares of 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 during the period. Exane Derivatives acquired a new position in shares of Vale SA during the second quarter worth about $10,106,000. Societe Generale acquired a new position in shares of Vale SA during the second quarter worth about $7,295,000. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of Vale SA during the second quarter worth about $4,098,000.
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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