Vale SA (NYSE:VALE) gapped up before the market opened on Monday following a dividend announcement from the company. The stock had previously closed at $10.93, but opened at $11.17. Vale shares last traded at $11.55, with a volume of 23129416 shares traded.

The newly announced dividend which will be paid on Thursday, March 22nd. Stockholders of record on Tuesday, December 26th will be issued a $0.098 dividend. The ex-dividend date of this dividend is Friday, December 22nd. Vale’s dividend payout ratio (DPR) is 23.76%.

Several research analysts recently commented on VALE shares. Jefferies Group reiterated a “hold” rating on shares of Vale in a research report on Tuesday, October 3rd. Morgan Stanley started coverage on Vale in a research report on Monday, September 25th. They issued a “weight” rating for the company. BMO Capital Markets set a $11.00 price target on Vale and gave the stock a “hold” rating in a research report on Thursday, December 7th. BidaskClub lowered Vale from a “buy” rating to a “hold” rating in a research report on Friday, September 22nd. Finally, Royal Bank of Canada set a $11.00 price target on Vale and gave the stock a “hold” rating in a research report on Tuesday, October 10th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Vale presently has an average rating of “Buy” and an average price target of $11.08.

The company has a market cap of $58,281.17, a PE ratio of 7.35, a PEG ratio of 0.76 and a beta of 1.57. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.52.

Vale (NYSE:VALE) last announced its earnings results on Thursday, October 26th. The basic materials company reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.15. Vale had a return on equity of 19.02% and a net margin of 15.25%. The business had revenue of $9.05 billion during the quarter. sell-side analysts predict that Vale SA will post 1.21 earnings per share for the current year.

Several large investors have recently made changes to their positions in the business. Baldwin Investment Management LLC boosted its position in shares of Vale by 0.3% during the second quarter. Baldwin Investment Management LLC now owns 13,701 shares of the basic materials company’s stock valued at $120,000 after buying an additional 36 shares during the period. Wedbush Securities Inc. boosted its position in shares of Vale by 0.7% during the second quarter. Wedbush Securities Inc. now owns 12,991 shares of the basic materials company’s stock valued at $114,000 after buying an additional 84 shares during the period. TD Asset Management Inc. boosted its position in shares of Vale by 1.1% during the second quarter. TD Asset Management Inc. now owns 34,205 shares of the basic materials company’s stock valued at $299,000 after buying an additional 369 shares during the period. Investment Centers of America Inc. boosted its position in shares of Vale by 1.9% during the second quarter. Investment Centers of America Inc. now owns 40,089 shares of the basic materials company’s stock valued at $351,000 after buying an additional 748 shares during the period. Finally, Raymond James Trust N.A. boosted its position in shares of Vale by 8.4% during the second quarter. Raymond James Trust N.A. now owns 11,560 shares of the basic materials company’s stock valued at $101,000 after buying an additional 893 shares during the period. Institutional investors and hedge funds own 18.89% of the company’s stock.

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About Vale

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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