Vale S.A. (VALE) Rating Increased to Buy at Sandler O’Neill
Vale S.A. (NYSE:VALE) was upgraded by investment analysts at Sandler O’Neill from a “hold” rating to a “buy” rating in a research report issued on Wednesday.
VALE has been the subject of a number of other research reports. Deutsche Bank AG restated a “buy” rating and issued a $12.00 price objective (down previously from $12.50) on shares of Vale in a research report on Sunday, June 25th. BMO Capital Markets restated a “hold” rating and issued a $10.00 price objective on shares of Vale in a research report on Friday, June 2nd. Credit Suisse Group set a $8.00 price objective on shares of Vale and gave the company a “hold” rating in a research report on Sunday, May 28th. HSBC Holdings plc upgraded Vale from a “hold” rating to a “buy” rating and increased their target price for the stock from $8.67 to $8.76 in a report on Wednesday, May 31st. Finally, Clarkson Capital reiterated a “neutral” rating on shares of Vale in a report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $9.67.
Shares of Vale (NYSE:VALE) opened at 10.74 on Wednesday. Vale has a 12 month low of $4.91 and a 12 month high of $11.72. The firm has a market cap of $55.37 billion, a PE ratio of 15.44 and a beta of 1.56. The stock has a 50 day moving average price of $10.42 and a 200 day moving average price of $9.30.
Vale (NYSE:VALE) last released its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. Vale had a net margin of 11.01% and a return on equity of 16.74%. The business had revenue of $7.24 billion during the quarter. On average, equities research analysts expect that Vale will post $1.15 EPS for the current year.
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Several large investors have recently modified their holdings of VALE. Nationwide Fund Advisors acquired a new position in shares of Vale during the first quarter worth $3,563,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Vale during the first quarter worth $333,000. TD Asset Management Inc. lifted its holdings in shares of Vale by 11.5% during the first quarter. TD Asset Management Inc. now owns 33,836 shares of the basic materials company’s stock worth $321,000 after purchasing an additional 3,497 shares during the period. Wedbush Securities Inc. lifted its holdings in shares of Vale by 19.2% during the first quarter. Wedbush Securities Inc. now owns 12,907 shares of the basic materials company’s stock worth $123,000 after purchasing an additional 2,075 shares during the period. Finally, State of Wisconsin Investment Board acquired a new position in shares of Vale during the first quarter worth $3,846,000. Institutional investors own 9.58% of the company’s stock.
Vale Company Profile
Vale SA is a global producer of iron ore and iron ore pellets, key raw materials for steelmaking, and producer of nickel. The Company also produces copper, metallurgical and thermal coal, potash, phosphates and other fertilizer nutrients, manganese ore, ferroalloys, platinum group metals, gold, silver and cobalt.
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