Royal Bank Of Canada Reiterates “Hold” Rating for VALE S.A. (VALE)
Royal Bank Of Canada reissued their hold rating on shares of VALE S.A. (NYSE:VALE) in a report issued on Wednesday. The brokerage currently has a $11.00 price objective on the basic materials company’s stock.
Several other brokerages have also issued reports on VALE. Sandler O’Neill raised VALE from a hold rating to a buy rating in a research note on Wednesday, September 13th. Santander raised VALE from a hold rating to a buy rating in a research note on Tuesday, September 12th. BidaskClub lowered VALE from a strong-buy rating to a buy rating in a research note on Friday, September 15th. Jefferies Group LLC reaffirmed a hold rating on shares of VALE in a research note on Tuesday, October 3rd. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a neutral rating on shares of VALE in a research note on Monday, October 23rd. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. VALE presently has a consensus rating of Hold and an average target price of $10.06.
VALE (NYSE VALE) opened at $10.11 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.47 and a current ratio of 1.86. VALE has a one year low of $7.00 and a one year high of $11.72. The stock has a market capitalization of $52,100.62, a price-to-earnings ratio of 6.65, a PEG ratio of 0.62 and a beta of 1.56.
VALE (NYSE:VALE) last issued its quarterly earnings results on Thursday, October 26th. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.15. VALE had a return on equity of 19.02% and a net margin of 15.25%. The business had revenue of $9.05 billion for the quarter. analysts forecast that VALE will post 1.25 EPS for the current fiscal year.
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Several institutional investors have recently made changes to their positions in VALE. Raymond James Trust N.A. increased its holdings in shares of VALE by 8.4% in the second quarter. Raymond James Trust N.A. now owns 11,560 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 893 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of VALE in the second quarter worth about $107,000. Wedbush Securities Inc. increased its holdings in shares of VALE by 0.7% in the second quarter. Wedbush Securities Inc. now owns 12,991 shares of the basic materials company’s stock worth $114,000 after acquiring an additional 84 shares in the last quarter. Baldwin Investment Management LLC increased its holdings in shares of VALE by 0.3% in the second quarter. Baldwin Investment Management LLC now owns 13,701 shares of the basic materials company’s stock worth $120,000 after acquiring an additional 36 shares in the last quarter. Finally, Private Advisor Group LLC bought a new stake in shares of VALE in the second quarter worth about $127,000. Institutional investors own 9.89% of the company’s stock.
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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