Vale SA (VALE) Given Consensus Rating of “Hold” by Brokerages

Vale SA (NYSE:VALE) has received an average recommendation of “Hold” from the nineteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $14.39.

Several research analysts have issued reports on the stock. Credit Suisse Group reissued a “buy” rating and set a $16.00 price objective on shares of Vale in a research report on Friday, March 2nd. Royal Bank of Canada downgraded shares of Vale from an “outperform” rating to a “sector perform” rating and set a $16.00 target price on the stock. in a report on Tuesday, April 24th. Zacks Investment Research downgraded shares of Vale from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 29th. Cowen reaffirmed a “market perform” rating and issued a $15.00 target price (up previously from $11.00) on shares of Vale in a report on Thursday, March 1st. Finally, Bank of America assumed coverage on shares of Vale in a report on Wednesday, March 28th. They issued a “buy” rating and a $16.50 target price on the stock.

NYSE:VALE traded up $0.23 during midday trading on Tuesday, hitting $12.81. 26,231,633 shares of the company were exchanged, compared to its average volume of 23,415,552. Vale has a fifty-two week low of $8.03 and a fifty-two week high of $15.24. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.53 and a quick ratio of 1.13. The firm has a market capitalization of $65.64 billion, a P/E ratio of 9.49 and a beta of 1.66.

Vale (NYSE:VALE) last announced its quarterly earnings results on Wednesday, April 25th. The basic materials company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.03. Vale had a net margin of 13.53% and a return on equity of 14.89%. The firm had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.60 billion. sell-side analysts anticipate that Vale will post 1.36 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. OppenheimerFunds Inc. acquired a new position in Vale during the fourth quarter worth about $184,795,000. BlackRock Inc. raised its position in Vale by 7.8% during the fourth quarter. BlackRock Inc. now owns 106,225,211 shares of the basic materials company’s stock worth $1,299,134,000 after acquiring an additional 7,698,364 shares during the last quarter. Investec Asset Management LTD raised its position in Vale by 379.3% during the fourth quarter. Investec Asset Management LTD now owns 8,309,203 shares of the basic materials company’s stock worth $101,622,000 after acquiring an additional 6,575,645 shares during the last quarter. Millennium Management LLC raised its position in Vale by 448.5% during the fourth quarter. Millennium Management LLC now owns 6,049,489 shares of the basic materials company’s stock worth $73,985,000 after acquiring an additional 4,946,586 shares during the last quarter. Finally, Orbis Allan Gray Ltd raised its position in Vale by 21.5% during the fourth quarter. Orbis Allan Gray Ltd now owns 20,438,611 shares of the basic materials company’s stock worth $249,964,000 after acquiring an additional 3,617,688 shares during the last quarter. 19.48% of the stock is currently owned by hedge funds and other institutional investors.

About Vale

Vale SA, together with its subsidiaries, produces and sells iron ore and iron ore pallets for use as raw materials in steelmaking in Brazil and internationally. It operates through Ferrous Minerals, Coal, and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and others ferrous products and services, as well as engages in the provision of related railroad, port, and terminal logistics services.

Analyst Recommendations for Vale (NYSE:VALE)

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