JPMorgan Chase & Co. Boosts Vale (NYSE:VALE) Price Target to $14.00

Vale (NYSE:VALE) had its price target upped by analysts at JPMorgan Chase & Co. from $13.50 to $14.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 24.05% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. UBS Group raised their target price on shares of Vale from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Zacks Research upgraded shares of Vale from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 8th. Scotiabank upgraded shares of Vale from a “sector perform” rating to a “sector outperform” rating and set a $14.00 target price on the stock in a research note on Thursday, September 18th. Morgan Stanley set a $11.50 target price on shares of Vale in a research note on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Vale in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $12.13.

Vale Price Performance

NYSE VALE opened at $11.29 on Monday. Vale has a 12 month low of $8.06 and a 12 month high of $11.46. The stock has a market cap of $51.23 billion, a price-to-earnings ratio of 9.18 and a beta of 0.80. The company’s 50 day moving average is $10.61 and its two-hundred day moving average is $9.93. The company has a current ratio of 1.22, a quick ratio of 0.85 and a debt-to-equity ratio of 0.48.

Vale (NYSE:VALE) last released its earnings results on Thursday, July 31st. The basic materials company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.16. Vale had a net margin of 14.23% and a return on equity of 18.14%. The company had revenue of $8.80 billion for the quarter, compared to analysts’ expectations of $9.54 billion. As a group, research analysts anticipate that Vale will post 1.85 earnings per share for the current year.

Institutional Investors Weigh In On Vale

A number of institutional investors have recently added to or reduced their stakes in VALE. Signaturefd LLC grew its holdings in shares of Vale by 9.4% in the third quarter. Signaturefd LLC now owns 31,998 shares of the basic materials company’s stock valued at $347,000 after purchasing an additional 2,755 shares in the last quarter. Silver Oak Securities Incorporated purchased a new position in shares of Vale in the third quarter valued at $365,000. Ninety One North America Inc. grew its holdings in shares of Vale by 35.6% in the third quarter. Ninety One North America Inc. now owns 3,377,582 shares of the basic materials company’s stock valued at $36,681,000 after purchasing an additional 886,214 shares in the last quarter. Ninety One UK Ltd grew its holdings in shares of Vale by 29.7% in the third quarter. Ninety One UK Ltd now owns 7,632,938 shares of the basic materials company’s stock valued at $82,894,000 after purchasing an additional 1,747,474 shares in the last quarter. Finally, Miracle Mile Advisors LLC grew its holdings in shares of Vale by 12.2% in the third quarter. Miracle Mile Advisors LLC now owns 13,173 shares of the basic materials company’s stock valued at $143,000 after purchasing an additional 1,431 shares in the last quarter. 21.85% of the stock is owned by hedge funds and other 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.