Vale (NYSE:VALE) Sets New 52-Week Low at $11.52

Vale S.A. (NYSE:VALE)’s stock price hit a new 52-week low on Tuesday . The company traded as low as $11.52 and last traded at $11.59, with a volume of 7871022 shares. The stock had previously closed at $12.00.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on VALE shares. Barclays boosted their price objective on shares of Vale from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $19.00 price objective on shares of Vale in a research note on Monday, February 12th. Bank of America reaffirmed a “neutral” rating and issued a $13.00 price objective (down previously from $20.00) on shares of Vale in a report on Tuesday, April 9th. StockNews.com began coverage on shares of Vale in a research report on Saturday, March 30th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. decreased their price objective on Vale from $20.50 to $20.00 and set an “overweight” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Vale presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.67.

Vale Stock Down 2.8 %

The company has a debt-to-equity ratio of 0.38, a current ratio of 1.28 and a quick ratio of 0.96. The stock has a market capitalization of $52.27 billion, a P/E ratio of 6.56, a PEG ratio of 3.39 and a beta of 0.97. The stock’s fifty day moving average is $12.77 and its two-hundred day moving average is $13.81.

Vale (NYSE:VALE) last issued its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.48). Vale had a return on equity of 20.00% and a net margin of 19.10%. The company had revenue of $13.05 billion during the quarter, compared to analysts’ expectations of $12.95 billion. During the same period in the prior year, the business posted $0.82 EPS. As a group, research analysts predict that Vale S.A. will post 2.31 earnings per share for the current fiscal year.

Vale Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were given a $0.3182 dividend. This represents a dividend yield of 9.7%. The ex-dividend date was Tuesday, March 12th. Vale’s dividend payout ratio is 64.48%.

Institutional Investors Weigh In On Vale

A number of hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc bought a new position in shares of Vale during the 1st quarter worth about $26,000. Sunbelt Securities Inc. acquired a new stake in Vale during the first quarter valued at approximately $28,000. Systematic Alpha Investments LLC bought a new stake in shares of Vale in the 3rd quarter valued at approximately $31,000. Whittier Trust Co. raised its holdings in shares of Vale by 423.1% in the 4th quarter. Whittier Trust Co. now owns 1,951 shares of the basic materials company’s stock worth $31,000 after buying an additional 1,578 shares in the last quarter. Finally, Rakuten Securities Inc. acquired a new position in shares of Vale in the 4th quarter worth approximately $31,000. 21.85% of the stock is currently owned by institutional investors.

About Vale

Vale SA, together with its subsidiaries, produces and sells iron ore and iron ore pellets for use as raw materials in steelmaking in Brazil and internationally. The company operates through Iron Solutions and Energy Transition Materials segments. The Iron Solutions segment produces and extracts iron ore and pellets, manganese, and other ferrous products; and provides related logistic services.