Jefferies Group LLC Reaffirms Hold Rating for Vale S.A. (NYSE:VALE)
Several other equities research analysts also recently commented on the company. Zacks Investment Research raised Vale from a hold rating to a buy rating and set a $11.00 target price for the company in a report on Thursday, April 6th. Vetr raised Vale from a buy rating to a strong-buy rating and set a $9.51 target price for the company in a report on Thursday, April 27th. HSBC Holdings plc raised Vale from a hold rating to a buy rating and upped their target price for the company from $8.67 to $8.76 in a report on Wednesday, May 31st. Deutsche Bank AG reaffirmed a buy rating and set a $12.00 target price (down from $12.50) on shares of Vale in a report on Sunday, June 25th. Finally, Royal Bank Of Canada reaffirmed a hold rating and set a $11.00 target price on shares of Vale in a report on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $9.11.
Shares of Vale (NYSE:VALE) traded down 1.745% on Friday, reaching $9.855. 10,581,138 shares of the company traded hands. Vale has a 52-week low of $4.86 and a 52-week high of $11.70. The firm has a 50-day moving average of $8.79 and a 200-day moving average of $9.26. The company has a market capitalization of $50.79 billion, a PE ratio of 13.959 and a beta of 1.52.
Vale (NYSE:VALE) last announced its earnings results on Thursday, July 27th. The basic materials company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. Vale had a return on equity of 16.74% and a net margin of 11.01%. The business had revenue of $7.24 billion during the quarter. On average, equities research analysts forecast that Vale will post $0.99 earnings per share for the current fiscal year.
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Several large investors have recently bought and sold shares of VALE. AQR Capital Management LLC increased its stake in Vale by 7.1% in the fourth quarter. AQR Capital Management LLC now owns 130,024 shares of the basic materials company’s stock worth $991,000 after buying an additional 8,602 shares during the period. Norges Bank purchased a new stake in Vale during the fourth quarter worth $6,804,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Vale during the fourth quarter worth $332,000. Raymond James Trust N.A. purchased a new stake in Vale during the first quarter worth $101,000. Finally, Verde Servicos Internacionais S.A. purchased a new stake in Vale during the first quarter worth $1,045,000. 9.04% of the stock is owned by institutional investors.
Vale SA is a global producer of iron ore and iron ore pellets, key raw materials for steelmaking, and producer of nickel. The Company also produces copper, metallurgical and thermal coal, potash, phosphates and other fertilizer nutrients, manganese ore, ferroalloys, platinum group metals, gold, silver and cobalt.
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