Vale (NYSE:VALE) Reaches New 1-Year Low at $10.99

Shares of Vale S.A. (NYSE:VALE) reached a new 52-week low on Thursday . The company traded as low as $10.99 and last traded at $10.99, with a volume of 7864965 shares changing hands. The stock had previously closed at $11.14.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VALE. Morgan Stanley reduced their price target on Vale from $18.00 to $15.50 and set an “overweight” rating for the company in a research report on Friday, June 21st. JPMorgan Chase & Co. cut their price objective on shares of Vale from $20.50 to $20.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Barclays boosted their target price on shares of Vale from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. BNP Paribas upgraded shares of Vale from an “underperform” rating to a “neutral” rating in a research note on Friday, June 21st. Finally, StockNews.com initiated coverage on Vale in a research report on Saturday, March 30th. They set a “buy” rating for the company. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $16.55.

Vale Stock Performance

The company has a current ratio of 1.12, a quick ratio of 0.79 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $49.76 billion, a price-to-earnings ratio of 6.07, a P/E/G ratio of 4.90 and a beta of 0.98. The firm has a 50-day moving average of $12.04 and a 200-day moving average of $13.08.

Vale (NYSE:VALE) last issued its earnings results on Wednesday, April 24th. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.03). The business had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.35 billion. Vale had a return on equity of 19.59% and a net margin of 18.72%. As a group, sell-side analysts predict that Vale S.A. will post 2.18 earnings per share for the current year.

Institutional Investors Weigh In On Vale

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Keynote Financial Services LLC acquired a new position in Vale in the first quarter valued at approximately $126,000. Cetera Advisors LLC raised its position in Vale by 109.1% in the first quarter. Cetera Advisors LLC now owns 101,406 shares of the basic materials company’s stock valued at $1,236,000 after purchasing an additional 52,906 shares during the period. Cetera Investment Advisers grew its stake in shares of Vale by 316.9% in the first quarter. Cetera Investment Advisers now owns 217,250 shares of the basic materials company’s stock valued at $2,648,000 after buying an additional 165,141 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Vale in the 1st quarter valued at $1,379,000. Finally, Wahed Invest LLC lifted its stake in Vale by 45.0% during the 1st quarter. Wahed Invest LLC now owns 39,861 shares of the basic materials company’s stock worth $486,000 after acquiring an additional 12,377 shares in the last quarter. Institutional investors and hedge funds own 21.85% of the company’s stock.

About Vale

Vale SA, together with its subsidiaries, produces and sells iron ore and iron ore pellets for use as raw materials in steelmaking in Brazil and internationally. The company operates through Iron Solutions and Energy Transition Materials segments. The Iron Solutions segment produces and extracts iron ore and pellets, manganese, and other ferrous products; and provides related logistic services.