Vale (NYSE:VALE) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of Vale (NYSE:VALE) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the stock. Wall Street Zen upgraded shares of Vale from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Barclays lifted their price objective on Vale from $13.80 to $14.50 and gave the stock an “overweight” rating in a report on Monday, November 10th. JPMorgan Chase & Co. increased their target price on Vale from $13.50 to $14.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Jefferies Financial Group set a $15.00 price objective on Vale and gave the company a “buy” rating in a research note on Monday, November 3rd. Finally, Hsbc Global Res raised Vale to a “strong-buy” rating in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.96.

Vale Trading Up 1.5%

Shares of VALE stock opened at $13.00 on Tuesday. The business has a 50-day moving average price of $11.95 and a two-hundred day moving average price of $10.68. Vale has a 12-month low of $8.06 and a 12-month high of $13.62. The company has a quick ratio of 0.82, a current ratio of 1.24 and a debt-to-equity ratio of 0.49. The firm has a market cap of $58.98 billion, a P/E ratio of 10.00 and a beta of 0.57.

Vale (NYSE:VALE) last announced its quarterly earnings data on Thursday, October 30th. The basic materials company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.49 by $0.14. The firm had revenue of $10.42 billion for the quarter, compared to analyst estimates of $10.39 billion. Vale had a return on equity of 18.60% and a net margin of 14.69%. Equities analysts anticipate that Vale will post 1.85 EPS for the current fiscal year.

Vale Dividend Announcement

The company also recently declared a special dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Friday, December 12th will be issued a dividend of $0.2331 per share. The ex-dividend date is Friday, December 12th. Vale’s dividend payout ratio is presently 56.15%.

Institutional Trading of Vale

Several institutional investors have recently added to or reduced their stakes in VALE. Banque Transatlantique SA bought a new stake in shares of Vale in the 1st quarter worth $30,000. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Vale by 60.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 2,748 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 1,030 shares during the last quarter. CENTRAL TRUST Co purchased a new position in shares of Vale in the 2nd quarter worth $34,000. Triumph Capital Management purchased a new stake in shares of Vale during the 3rd quarter valued at about $34,000. Finally, GAMMA Investing LLC lifted its stake in shares of Vale by 98.4% in the 2nd quarter. GAMMA Investing LLC now owns 4,075 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 2,021 shares during the period. 21.85% 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 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.