Vale (NYSE:VALE) Price Target Raised to $21.00 at JPMorgan Chase & Co.

Vale (NYSE:VALE) had its target price hoisted by analysts at JPMorgan Chase & Co. from $19.50 to $21.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 34.48% from the stock’s previous close.

A number of other research analysts have also recently commented on the stock. Bank of America raised shares of Vale from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $18.00 to $19.00 in a research report on Thursday, April 2nd. Morgan Stanley boosted their target price on shares of Vale from $18.00 to $19.50 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Barclays increased their target price on shares of Vale from $15.50 to $16.50 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Wall Street Zen downgraded Vale from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. Finally, UBS Group upped their price target on Vale from $12.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Vale has a consensus rating of “Moderate Buy” and a consensus target price of $16.77.

Vale Stock Performance

Shares of VALE stock traded up $0.26 during mid-day trading on Friday, hitting $15.62. The stock had a trading volume of 5,414,984 shares, compared to its average volume of 31,894,346. Vale has a fifty-two week low of $8.97 and a fifty-two week high of $17.94. The firm has a market cap of $70.88 billion, a PE ratio of 23.36 and a beta of 0.46. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.24 and a quick ratio of 0.79. The company’s 50-day simple moving average is $16.52 and its 200-day simple moving average is $15.38.

Vale (NYSE:VALE) last announced its quarterly earnings data on Tuesday, April 28th. The basic materials company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.08). Vale had a net margin of 7.21% and a return on equity of 21.10%. The company had revenue of $9.26 billion during the quarter, compared to analyst estimates of $9.53 billion. Sell-side analysts anticipate that Vale will post 2.15 earnings per share for the current year.

Insider Activity

In other Vale news, insider Parenti Grazielle Tallia acquired 10,464 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were acquired at an average price of $16.11 per share, for a total transaction of $168,575.04. Following the acquisition, the insider directly owned 10,464 shares of the company’s stock, valued at approximately $168,575.04. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Sobrinho Sami Arap bought 12,990 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were acquired at an average cost of $16.11 per share, with a total value of $209,268.90. Following the completion of the purchase, the vice president owned 12,990 shares in the company, valued at $209,268.90. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information.

Institutional Trading of Vale

Several hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in Vale by 2.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 28,913 shares of the basic materials company’s stock valued at $377,000 after buying an additional 632 shares during the last quarter. Chesapeake Capital Corp IL raised its holdings in Vale by 0.9% during the fourth quarter. Chesapeake Capital Corp IL now owns 72,358 shares of the basic materials company’s stock worth $943,000 after acquiring an additional 646 shares in the last quarter. Checchi Capital Advisers LLC boosted its position in Vale by 1.8% during the fourth quarter. Checchi Capital Advisers LLC now owns 38,134 shares of the basic materials company’s stock valued at $497,000 after purchasing an additional 675 shares during the last quarter. NewEdge Wealth LLC grew its stake in Vale by 2.8% in the first quarter. NewEdge Wealth LLC now owns 25,799 shares of the basic materials company’s stock valued at $410,000 after purchasing an additional 708 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Vale by 1.3% during the 4th quarter. Quadrant Capital Group LLC now owns 66,870 shares of the basic materials company’s stock worth $871,000 after purchasing an additional 853 shares in the last quarter. Institutional investors and hedge funds own 21.85% of the company’s stock.

About Vale

Vale SA is a Brazilian multinational mining company and one of the world’s largest producers of iron ore and iron ore pellets. In addition to iron ore, the company produces and sells a range of bulk commodities and metals, including nickel, copper, coal, manganese, ferroalloys and cobalt, and it participates in the fertilizer inputs market. Vale also operates extensive logistics assets — including rail, port and maritime logistics — that support its mining and export activities and provide services to third parties in some regions.

Headquartered in Brazil, Vale maintains a global operational footprint with mining, processing and shipping activities across the Americas, Africa, Asia and Oceania.