Vale (NYSE:VALE) Price Target Raised to $18.00 at Scotiabank

Vale (NYSE:VALE) had its price objective upped by analysts at Scotiabank from $16.50 to $18.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s price objective would suggest a potential upside of 10.46% from the stock’s previous close.

VALE has been the topic of several other research reports. JPMorgan Chase & Co. lifted their price target on Vale from $18.50 to $19.50 and gave the stock an “overweight” rating in a report on Friday, May 22nd. Wells Fargo & Company dropped their price objective on shares of Vale from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $18.00 target price on shares of Vale in a research note on Friday, May 15th. Royal Bank Of Canada lowered shares of Vale from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $14.50 to $15.50 in a report on Thursday, March 12th. Finally, Zacks Research cut shares of Vale from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $16.65.

Vale Price Performance

Shares of VALE stock traded down $0.20 during trading hours on Wednesday, reaching $16.30. The company had a trading volume of 2,860,047 shares, compared to its average volume of 32,915,066. Vale has a 12-month low of $8.97 and a 12-month high of $17.94. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.79 and a current ratio of 1.24. The company has a market capitalization of $73.97 billion, a price-to-earnings ratio of 24.29 and a beta of 0.46. The stock has a fifty day moving average of $16.31 and a 200-day moving average of $15.07.

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 analysts’ consensus estimates of $0.52 by ($0.08). The company had revenue of $9.26 billion for the quarter, compared to analysts’ expectations of $9.53 billion. Vale had a return on equity of 21.10% and a net margin of 7.21%. On average, equities analysts anticipate that Vale will post 2.12 earnings per share for the current year.

Insider Transactions at Vale

In other Vale news, VP Sobrinho Sami Arap acquired 12,990 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was purchased at an average cost of $16.11 per share, with a total value of $209,268.90. Following the transaction, the vice president owned 12,990 shares of the company’s stock, valued at $209,268.90. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Parenti Grazielle Tallia acquired 10,464 shares of Vale stock in a transaction that occurred on Wednesday, April 1st. The stock was bought at an average price of $16.11 per share, for a total transaction of $168,575.04. Following the completion of the acquisition, the insider owned 10,464 shares in the company, valued at $168,575.04. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Hedge Funds Weigh In On Vale

A number of hedge funds have recently made changes to their positions in VALE. NewEdge Advisors LLC raised its position in Vale by 4.9% in the first quarter. NewEdge Advisors LLC now owns 79,400 shares of the basic materials company’s stock valued at $792,000 after purchasing an additional 3,704 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Vale by 46.6% during the first quarter. Jones Financial Companies Lllp now owns 37,613 shares of the basic materials company’s stock worth $375,000 after buying an additional 11,964 shares during the period. Empowered Funds LLC purchased a new position in shares of Vale during the first quarter worth $171,000. Strs Ohio acquired a new stake in shares of Vale in the first quarter valued at $117,000. Finally, Sivia Capital Partners LLC purchased a new stake in shares of Vale in the 2nd quarter valued at $123,000. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Vale Company Profile

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.