Vale (NYSE:VALE) Shares Gap Up to $13.26

Vale SA (NYSE:VALE) shares gapped up prior to trading on Wednesday . The stock had previously closed at $13.61, but opened at $13.26. Vale shares last traded at $13.40, with a volume of 1030643 shares changing hands.

Several research analysts have issued reports on VALE shares. BMO Capital Markets set a $13.00 price objective on shares of Vale and gave the stock a “hold” rating in a research report on Monday, March 18th. ValuEngine downgraded shares of Vale from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Royal Bank of Canada set a $10.00 price objective on shares of Vale and gave the stock a “sell” rating in a research report on Tuesday, April 2nd. Jefferies Financial Group set a $14.00 price objective on shares of Vale and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Finally, Barclays set a $14.00 price objective on shares of Vale and gave the stock a “buy” rating in a research report on Friday, April 12th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.08.

The company has a market capitalization of $69.03 billion, a P/E ratio of 7.26, a price-to-earnings-growth ratio of 1.84 and a beta of 1.07. The company has a current ratio of 1.21, a quick ratio of 0.82 and a debt-to-equity ratio of 0.37.

Vale (NYSE:VALE) last released its earnings results on Wednesday, March 27th. The basic materials company reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.11. Vale had a net margin of 10.03% and a return on equity of 23.20%. The company had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $10.67 billion. On average, research analysts forecast that Vale SA will post 1.76 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in VALE. Renaissance Technologies LLC lifted its stake in shares of Vale by 1,523.0% in the 1st quarter. Renaissance Technologies LLC now owns 27,332,549 shares of the basic materials company’s stock worth $356,963,000 after acquiring an additional 25,648,449 shares during the period. Norges Bank acquired a new stake in shares of Vale in the fourth quarter valued at about $172,007,000. Hsbc Holdings PLC lifted its stake in shares of Vale by 1,945.1% in the first quarter. Hsbc Holdings PLC now owns 11,439,001 shares of the basic materials company’s stock valued at $149,393,000 after purchasing an additional 10,879,662 shares during the period. Baillie Gifford & Co. acquired a new stake in shares of Vale in the first quarter valued at about $137,831,000. Finally, FIL Ltd lifted its stake in shares of Vale by 145.9% in the first quarter. FIL Ltd now owns 17,602,739 shares of the basic materials company’s stock valued at $229,892,000 after purchasing an additional 10,443,564 shares during the period. Institutional investors own 19.13% of the company’s stock.

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Vale Company Profile (NYSE: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. 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; and provides related logistic services.

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