Vale (NYSE:VALE) Given New $15.25 Price Target at Barclays

Vale (NYSE:VALE) had its price objective lowered by Barclays from $16.00 to $15.25 in a research note published on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the basic materials company’s stock.

A number of other research firms have also recently weighed in on VALE. Morgan Stanley cut their price target on Vale from $16.00 to $15.50 and set an “overweight” rating on the stock in a research note on Thursday, September 19th. Wolfe Research cut Vale from a “peer perform” rating to an “underperform” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. cut their price target on Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a research note on Monday, September 23rd. StockNews.com assumed coverage on Vale in a research note on Friday, October 18th. They issued a “buy” rating on the stock. Finally, UBS Group cut Vale from a “buy” rating to a “neutral” rating and cut their price target for the company from $14.00 to $11.50 in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Vale currently has a consensus rating of “Hold” and a consensus price target of $14.91.

Vale Stock Down 1.8 %

Shares of NYSE VALE opened at $9.51 on Wednesday. The stock has a market cap of $42.61 billion, a P/E ratio of 4.40, a PEG ratio of 0.26 and a beta of 0.91. The company has a current ratio of 0.91, a quick ratio of 0.58 and a debt-to-equity ratio of 0.39. Vale has a 12-month low of $9.42 and a 12-month high of $16.08. The business’s fifty day simple moving average is $10.62 and its 200-day simple moving average is $10.87.

Vale (NYSE:VALE) last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.15. The business had revenue of $9.55 billion for the quarter, compared to analysts’ expectations of $9.61 billion. Vale had a return on equity of 21.07% and a net margin of 22.59%. During the same period last year, the firm earned $0.66 earnings per share. As a group, equities analysts predict that Vale will post 2.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Vale

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacifica Partners Inc. purchased a new position in shares of Vale during the second quarter worth about $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Vale during the third quarter worth about $28,000. Point72 Hong Kong Ltd purchased a new position in shares of Vale during the third quarter worth about $36,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Vale during the third quarter worth about $79,000. Finally, Vienna Asset Management LLC purchased a new position in shares of Vale during the third quarter worth about $117,000. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Vale Company Profile

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.