Vale SA (VALE) Receives “Underperform” Rating from BMO Capital Markets
Vale SA (NYSE:VALE)‘s stock had its “underperform” rating restated by BMO Capital Markets in a report released on Wednesday. They currently have a $5.00 target price on the stock. BMO Capital Markets’ price target points to a potential downside of 41.11% from the stock’s previous close.
Several other brokerages also recently weighed in on VALE. Vetr raised shares of Vale SA from a “buy” rating to a “strong-buy” rating and set a $8.87 target price on the stock in a research note on Monday, November 14th. Citigroup Inc. raised shares of Vale SA from a “sell” rating to a “neutral” rating and raised their price target for the stock from $4.40 to $7.30 in a research note on Tuesday, November 1st. Itau Unibanco Holding S.A. raised shares of Vale SA to a “buy” rating in a research note on Thursday, October 20th. Morgan Stanley raised shares of Vale SA from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $4.80 to $6.20 in a research note on Tuesday, August 9th. Finally, Itau BBA Securities raised shares of Vale SA from a “market perform” rating to an “outperform” rating in a research note on Thursday, October 20th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $5.86.
Shares of Vale SA (NYSE:VALE) opened at 8.49 on Wednesday. The company’s market cap is $43.75 billion. The company’s 50-day moving average is $7.02 and its 200 day moving average is $5.62. Vale SA has a 1-year low of $2.13 and a 1-year high of $9.18.
Vale SA (NYSE:VALE) last announced its earnings results on Thursday, October 27th. The company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.06. Vale SA had a negative net margin of 19.99% and a positive return on equity of 2.90%. Equities analysts anticipate that Vale SA will post $0.76 EPS for the current year.
A hedge fund recently raised its stake in Vale SA stock. LPL Financial LLC raised its position in Vale SA (NYSE:VALE) by 4.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 321,495 shares of the company’s stock after buying an additional 12,910 shares during the period. LPL Financial LLC’s holdings in Vale SA were worth $1,328,000 at the end of the most recent quarter. 7.99% of the stock is owned by hedge funds and other 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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