Scotiabank Issues Pessimistic Forecast for Vale (NYSE:VALE) Stock Price

Vale (NYSE:VALE) had its price objective reduced by Scotiabank from $14.00 to $13.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a sector perform rating on the basic materials company’s stock.

Several other equities research analysts also recently commented on VALE. UBS Group downgraded Vale from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $14.00 to $11.50 in a report on Monday, November 11th. Morgan Stanley lowered shares of Vale from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $14.50 to $11.30 in a research note on Thursday, December 12th. Jefferies Financial Group lowered their price objective on shares of Vale from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday. JPMorgan Chase & Co. cut their target price on shares of Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a research report on Monday, September 23rd. Finally, Barclays lowered their price target on Vale from $16.00 to $15.25 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $13.89.

Vale Trading Down 0.7 %

NYSE:VALE opened at $8.50 on Monday. Vale has a 52 week low of $8.42 and a 52 week high of $15.06. The stock has a market cap of $38.11 billion, a price-to-earnings ratio of 3.94, a PEG ratio of 0.27 and a beta of 0.92. The company’s 50 day moving average price is $9.60 and its 200-day moving average price is $10.39. The company has a quick ratio of 0.58, a current ratio of 0.91 and a debt-to-equity ratio of 0.39.

Vale (NYSE:VALE) last issued its earnings results on Thursday, October 24th. The basic materials company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.41 by $0.15. Vale had a return on equity of 21.07% and a net margin of 22.59%. The business had revenue of $9.55 billion for the quarter, compared to the consensus estimate of $9.61 billion. During the same period last year, the business posted $0.66 EPS. On average, equities research analysts forecast that Vale will post 2.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Vale in the 3rd quarter worth approximately $28,000. Point72 Hong Kong Ltd bought a new position in shares of Vale in the third quarter worth approximately $36,000. Wilmington Savings Fund Society FSB bought a new position in shares of Vale in the third quarter worth approximately $79,000. Vienna Asset Management LLC purchased a new stake in shares of Vale in the third quarter worth $117,000. Finally, Phillips Wealth Planners LLC bought a new stake in shares of Vale during the 3rd quarter valued at $118,000. Institutional investors own 21.85% of the company’s stock.

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.