Vale (NYSE:VALE) Upgraded by Wolfe Research to “Peer Perform” Rating

Vale (NYSE:VALE) was upgraded by research analysts at Wolfe Research from an “underperform” rating to a “peer perform” rating in a report released on Wednesday,Briefing.com Automated Import reports.

Several other research analysts have also recently weighed in on VALE. Jefferies Financial Group lowered their price target on shares of Vale from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Monday. Barclays lowered their target price on Vale from $16.00 to $15.25 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. UBS Group downgraded Vale from a “buy” rating to a “neutral” rating and reduced their price target for the company from $14.00 to $11.50 in a research note on Monday, November 11th. Morgan Stanley lowered Vale from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $14.50 to $11.30 in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. dropped their target price on Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a report on Monday, September 23rd. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.89.

Vale Stock Down 0.7 %

VALE stock opened at $8.56 on Wednesday. Vale has a 1-year low of $8.52 and a 1-year high of $15.30. The business’s 50 day simple moving average is $9.65 and its 200 day simple moving average is $10.41. The company has a current ratio of 0.91, a quick ratio of 0.58 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $38.38 billion, a PE ratio of 3.96, a PEG ratio of 0.27 and a beta of 0.92.

Vale (NYSE:VALE) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.41 by $0.15. The firm had revenue of $9.55 billion for the quarter, compared to the consensus estimate of $9.61 billion. Vale had a net margin of 22.59% and a return on equity of 21.07%. During the same period in the previous year, the company earned $0.66 earnings per share. As a group, research analysts anticipate that Vale will post 2.08 EPS for the current year.

Institutional Investors Weigh In On Vale

Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC raised its position in shares of Vale by 18.2% in the 3rd quarter. FMR LLC now owns 36,605,338 shares of the basic materials company’s stock valued at $427,550,000 after buying an additional 5,635,167 shares in the last quarter. SPX Gestao de Recursos Ltda increased its stake in Vale by 60.6% in the second quarter. SPX Gestao de Recursos Ltda now owns 21,969,937 shares of the basic materials company’s stock valued at $245,404,000 after acquiring an additional 8,288,112 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Vale by 3,692.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 18,200,000 shares of the basic materials company’s stock valued at $212,576,000 after acquiring an additional 17,720,100 shares during the last quarter. Fisher Asset Management LLC raised its position in Vale by 10.7% during the third quarter. Fisher Asset Management LLC now owns 17,404,942 shares of the basic materials company’s stock valued at $203,290,000 after purchasing an additional 1,682,544 shares in the last quarter. Finally, Itau Unibanco Holding S.A. lifted its stake in Vale by 123.4% during the third quarter. Itau Unibanco Holding S.A. now owns 12,059,814 shares of the basic materials company’s stock worth $140,859,000 after purchasing an additional 6,660,933 shares during the last quarter. 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.