Barclays Increases Vale (NYSE:VALE) Price Target to $17.00

Vale (NYSE:VALE) had its target price hoisted by research analysts at Barclays from $16.00 to $17.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the basic materials company’s stock. Barclays‘s target price would indicate a potential upside of 43.52% from the company’s previous close.

Several other brokerages also recently issued reports on VALE. JPMorgan Chase & Co. decreased their target price on Vale from $20.50 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, April 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 research note on Tuesday, April 9th. StockNews.com started coverage on Vale in a research note on Saturday, March 30th. They issued a “buy” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $19.00 price objective on shares of Vale in a research note on Monday, February 12th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Vale from $18.00 to $16.00 and set a “hold” rating on the stock in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.67.

Vale Stock Up 1.5 %

Shares of VALE opened at $11.85 on Tuesday. The business’s 50 day moving average is $12.70 and its 200 day moving average is $13.78. The company has a market capitalization of $53.10 billion, a PE ratio of 6.47, a price-to-earnings-growth ratio of 3.38 and a beta of 0.97. Vale has a 12-month low of $11.52 and a 12-month high of $16.08. The company has a current ratio of 1.28, a quick ratio of 0.96 and a debt-to-equity ratio of 0.38.

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

Hedge Funds Weigh In On Vale

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its holdings in Vale by 2,830.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 22,286,695 shares of the basic materials company’s stock valued at $353,469,000 after acquiring an additional 21,526,055 shares during the period. BlackRock Inc. raised its position in Vale by 18.7% during the 1st quarter. BlackRock Inc. now owns 72,165,728 shares of the basic materials company’s stock valued at $1,138,775,000 after purchasing an additional 11,393,498 shares in the last quarter. Bank of America Corp DE raised its position in Vale by 57.8% during the 1st quarter. Bank of America Corp DE now owns 22,763,893 shares of the basic materials company’s stock valued at $359,214,000 after purchasing an additional 8,334,786 shares in the last quarter. SPX Gestao de Recursos Ltda raised its position in shares of Vale by 1,422.7% in the 4th quarter. SPX Gestao de Recursos Ltda now owns 8,586,062 shares of the basic materials company’s stock worth $136,175,000 after acquiring an additional 8,022,188 shares in the last quarter. Finally, RWC Asset Advisors US LLC raised its position in shares of Vale by 162.4% in the 3rd quarter. RWC Asset Advisors US LLC now owns 10,761,377 shares of the basic materials company’s stock worth $144,202,000 after acquiring an additional 6,660,917 shares in the last quarter. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Vale Company Profile

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.