Other research analysts have also issued reports about the company. Vetr lowered VALE from a strong-buy rating to a buy rating and set a $9.26 price target for the company. in a research report on Monday, June 12th. Deutsche Bank AG reiterated a buy rating and issued a $12.00 target price (down from $12.50) on shares of VALE in a report on Sunday, June 25th. Morgan Stanley started coverage on VALE in a report on Monday, September 25th. They issued a weight rating for the company. Credit Suisse Group set a $8.00 target price on VALE and gave the company a hold rating in a report on Tuesday, June 27th. Finally, BidaskClub upgraded VALE from a sell rating to a hold rating in a report on Saturday, June 24th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $9.72.
VALE (NYSE:VALE) last posted its earnings results on Thursday, July 27th. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The company had revenue of $7.24 billion during the quarter. VALE had a return on equity of 16.74% and a net margin of 11.01%.
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Large investors have recently made changes to their positions in the company. Raymond James Trust N.A. boosted its stake in shares of VALE by 8.4% during the 2nd quarter. Raymond James Trust N.A. now owns 11,560 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 893 shares in the last quarter. Verition Fund Management LLC purchased a new stake in VALE in the 2nd quarter valued at approximately $107,000. Wedbush Securities Inc. lifted its stake in VALE by 0.7% in the 2nd quarter. Wedbush Securities Inc. now owns 12,991 shares of the basic materials company’s stock valued at $114,000 after buying an additional 84 shares in the last quarter. Baldwin Investment Management LLC lifted its stake in VALE by 0.3% in the 2nd quarter. Baldwin Investment Management LLC now owns 13,701 shares of the basic materials company’s stock valued at $120,000 after buying an additional 36 shares in the last quarter. Finally, Private Advisor Group LLC purchased a new stake in VALE in the 2nd quarter valued at approximately $127,000. 9.57% of the stock is currently 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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