Vale SA (VALE) Rating Increased to Strong-Buy at Zacks Investment Research
Vale SA (NYSE:VALE) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday. The brokerage presently has a $11.00 price target on the stock. Zacks Investment Research’s target price suggests a potential upside of 8.59% from the stock’s current price.
According to Zacks, “Over the last one month, Vale’s shares outperformed the Zacks categorized Mining-Iron industry’s return. The company reported robust fourth-quarter 2016 results. Quarterly earnings of $0.53 per share surpassed the Zacks Consensus Estimate by a whopping 55.9%. Notably, higher selling prices of products including pellets, nickel, copper, and coal and iron ore fines, as well as lower operational costs are expected to boost the company’s near-term bottom-line performance. The development of new projects is expected to drive the company’s growth in the quarters ahead. Over the last 30 days, the Zacks Consensus Estimate for the stock moved north for both 2017 and 2018.”
A number of other equities analysts also recently commented on the company. Citigroup Inc upgraded Vale SA from a “neutral” rating to a “buy” rating in a research note on Monday, January 23rd. Vetr upgraded Vale SA from a “hold” rating to a “buy” rating and set a $10.25 target price for the company in a research note on Tuesday, January 17th. Barclays PLC upgraded Vale SA from an “equal weight” rating to an “overweight” rating and set a $9.00 target price for the company in a research note on Monday, January 9th. BMO Capital Markets restated an “underperform” rating and issued a $5.00 target price on shares of Vale SA in a research note on Wednesday, November 30th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $9.25 target price on shares of Vale SA in a research note on Sunday, January 8th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company. Vale SA presently has a consensus rating of “Buy” and an average target price of $8.15.
Shares of Vale SA (NYSE:VALE) opened at 10.13 on Thursday. The stock has a market capitalization of $52.20 billion, a P/E ratio of 12.41 and a beta of 1.57. The firm’s 50-day moving average price is $10.33 and its 200 day moving average price is $8.02. Vale SA has a 1-year low of $3.70 and a 1-year high of $11.70.
The business also recently disclosed a semiannual dividend, which will be paid on Friday, May 5th. Stockholders of record on Wednesday, April 26th will be given a dividend of $0.2881 per share. The ex-dividend date of this dividend is Monday, April 24th. This represents a dividend yield of 5.8%. This is a positive change from Vale SA’s previous semiannual dividend of $0.19. Vale SA’s dividend payout ratio is currently -4.00%.
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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wetherby Asset Management Inc. raised its position in shares of Vale SA by 10.9% in the fourth quarter. Wetherby Asset Management Inc. now owns 27,995 shares of the company’s stock worth $213,000 after buying an additional 2,753 shares in the last quarter. Wexford Capital LP bought a new position in shares of Vale SA during the fourth quarter worth approximately $218,000. Meridian Wealth Management LLC bought a new position in shares of Vale SA during the fourth quarter worth approximately $276,000. Pacad Investment Ltd. bought a new position in shares of Vale SA during the fourth quarter worth approximately $390,000. Finally, BigSur Wealth Management LLC bought a new position in shares of Vale SA during the fourth quarter worth approximately $663,000. 7.98% of the stock is owned by institutional investors and hedge funds.
Vale SA Company Profile
Vale SA (Vale) is a metals and mining company. The Company is also a producer of iron ore and iron ore pellets, and nickel. The Company’s segments include Ferrous minerals, Coal, Base metals, Fertilizers and Others. Its Ferrous minerals segment consists of the production and extraction of ferrous minerals, as iron ore, pellets and its logistic services, manganese and ferroalloys, and other ferrous products and services.
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