Vale (NYSE:VALE) Stock Gets Price Target Cut from Barclays

Vale (NYSE:VALE) had its target price reduced by Barclays from $15.00 to $14.50 in a report published on Monday,Benzinga reports. They currently have an equal weight rating on the basic materials company’s stock.

Other equities research analysts have also issued research reports about the stock. The Goldman Sachs Group lowered shares of Vale from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $18.00 to $16.00 in a report on Monday, July 27th. Sanford C. Bernstein upped their target price on shares of Vale from $12.00 to $12.50 and gave the stock a “market perform” rating in a research note on Wednesday, September 9th. Bank of America lowered shares of Vale from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $18.00 to $16.00 in a research report on Wednesday, August 5th. Royal Bank Of Canada raised their target price on shares of Vale from $15.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 16th. Finally, Freedom Broker downgraded shares of Vale from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 3rd. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Vale currently has a consensus rating of “Hold” and a consensus price target of $14.96.

Vale Stock Up 4.2%

Shares of NYSE VALE opened at $11.45 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.10 and a quick ratio of 0.77. The company has a market cap of $51.95 billion, a P/E ratio of 7.68 and a beta of 0.50. Vale has a 1 year low of $10.96 and a 1 year high of $17.94. The firm has a 50-day simple moving average of $13.65 and a two-hundred day simple moving average of $15.19.

Vale (NYSE:VALE) last released its earnings results on Thursday, October 29th. The basic materials company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.09). The business had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.45 billion. Vale had a return on equity of 16.54% and a net margin of 1.64%. Research analysts anticipate that Vale will post 1.58 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in VALE. Arrowstreet Capital Limited Partnership lifted its stake in shares of Vale by 15.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 47,947,703 shares of the basic materials company’s stock valued at $762,848,000 after purchasing an additional 6,351,703 shares during the period. Lazard Asset Management LLC grew its position in Vale by 5.4% during the first quarter. Lazard Asset Management LLC now owns 23,685,915 shares of the basic materials company’s stock worth $376,843,000 after buying an additional 1,205,280 shares during the period. Bank of America Corp DE grew its position in Vale by 119.9% during the first quarter. Bank of America Corp DE now owns 21,837,416 shares of the basic materials company’s stock worth $347,433,000 after buying an additional 11,905,247 shares during the period. Renaissance Technologies LLC grew its position in Vale by 27.3% during the first quarter. Renaissance Technologies LLC now owns 14,053,337 shares of the basic materials company’s stock worth $223,589,000 after buying an additional 3,012,700 shares during the period. Finally, OMERS ADMINISTRATION Corp purchased a new position in Vale in the first quarter valued at about $128,239,000. 21.85% of the stock is currently owned by hedge funds and other institutional investors.

About Vale

Vale SA is a Brazil-based global mining and logistics company best known for producing iron ore and iron ore pellets, key raw materials used in steelmaking. The company also produces nickel, copper, manganese ore, coal and other mineral products, with operations spanning exploration, extraction, processing and transportation.

Vale operates an extensive logistics network that includes railways, ports and maritime transportation systems, primarily supporting the movement of minerals from its production sites to domestic and international customers.