VALE S.A. (NYSE:VALE)‘s stock had its “hold” rating reiterated by equities research analysts at Cowen and Company in a research report issued on Friday. They currently have a $10.00 target price on the basic materials company’s stock. Cowen and Company’s target price suggests a potential upside of 7.53% from the stock’s current price.
VALE has been the topic of a number of other research reports. Deutsche Bank AG upped their target price on VALE from $12.00 to $12.50 and gave the company a “buy” rating in a research report on Tuesday, March 21st. Vetr raised VALE from a “buy” rating to a “strong-buy” rating and set a $9.51 price target for the company in a report on Thursday, April 27th. Credit Suisse Group set a $9.00 price target on VALE and gave the company a “hold” rating in a report on Thursday, March 16th. Zacks Investment Research raised VALE from a “hold” rating to a “strong-buy” rating and set a $11.00 price target for the company in a report on Thursday, March 16th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $10.00 price target on shares of VALE in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $9.11.
VALE (NYSE VALE) opened at 9.30 on Friday. VALE has a 52 week low of $4.86 and a 52 week high of $11.70. The stock has a 50 day moving average of $8.28 and a 200 day moving average of $9.10. The company has a market cap of $47.93 billion, a PE ratio of 10.64 and a beta of 1.52.
VALE (NYSE:VALE) last issued its earnings results on Thursday, April 27th. The basic materials company reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by $0.07. The firm had revenue of $8.52 billion during the quarter. VALE had a net margin of 14.60% and a return on equity of 16.32%. Equities research analysts predict that VALE will post $1.03 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in VALE. Amerigo Asset Management acquired a new position in shares of VALE during the first quarter valued at $76,950,000. Acadian Asset Management LLC purchased a new position in VALE during the first quarter valued at approximately $67,035,000. LMR Partners LLP purchased a new position in VALE during the first quarter valued at approximately $48,332,000. Horseman Capital Management Ltd purchased a new position in VALE during the first quarter valued at approximately $47,070,000. Finally, Capital Growth Management LP increased its position in VALE by 16.7% in the first quarter. Capital Growth Management LP now owns 20,250,000 shares of the basic materials company’s stock valued at $192,375,000 after buying an additional 2,900,000 shares in the last quarter. 9.01% of the stock is owned by institutional investors and hedge funds.
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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