Vale SA (VALE) Lowered to Buy at Vetr Inc.
Other equities research analysts have also recently issued reports about the stock. Barclays PLC raised shares of Vale SA from an underweight rating to an equal weight rating in a report on Wednesday. Morgan Stanley raised shares of Vale SA from an equal weight rating to an overweight rating and upped their target price for the company from $4.80 to $6.20 in a report on Tuesday, August 9th. JPMorgan Chase & Co. raised shares of Vale SA from a neutral rating to an overweight rating in a report on Monday, September 12th. Goldman Sachs Group Inc. assumed coverage on shares of Vale SA in a report on Thursday, June 9th. They issued a neutral rating and a $4.40 target price on the stock. Finally, Royal Bank Of Canada upped their target price on shares of Vale SA from $5.50 to $6.00 and gave the company a sector perform rating in a report on Thursday, September 8th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $5.22.
Shares of Vale SA (NYSE:VALE) opened at 5.47 on Wednesday. The stock has a 50 day moving average price of $5.59 and a 200 day moving average price of $4.93. The firm’s market cap is $28.19 billion. Vale SA has a 12 month low of $2.13 and a 12 month high of $6.26.
A number of hedge funds have recently modified their holdings of the stock. RMB Capital Management LLC raised its stake in shares of Vale SA by 1,014.3% in the first quarter. RMB Capital Management LLC now owns 1,474,121 shares of the company’s stock worth $4,599,000 after buying an additional 1,341,831 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Vale SA during the first quarter valued at about $21,892,000. LPL Financial LLC increased its position in Vale SA by 4.2% in the first quarter. LPL Financial LLC now owns 321,495 shares of the company’s stock valued at $1,328,000 after buying an additional 12,910 shares during the last quarter. Pacad Investment Ltd. increased its position in Vale SA by 360.5% in the first quarter. Pacad Investment Ltd. now owns 400,228 shares of the company’s stock valued at $1,685,000 after buying an additional 313,308 shares during the last quarter. Finally, Kiltearn Partners LLP increased its position in Vale SA by 10.1% in the first quarter. Kiltearn Partners LLP now owns 17,061,693 shares of the company’s stock valued at $71,830,000 after buying an additional 1,560,700 shares during the last quarter.
Vale SA Company Profile
Vale SA (Vale) is a metals and mining company. The Company is also a producer of iron ore and iron ore pellets, and nickel. The Company’s segments include Ferrous minerals, Coal, Base metals, Fertilizers and Others. Its Ferrous minerals segment consists of the production and extraction of ferrous minerals, as iron ore, pellets and its logistic services, manganese and ferroalloys, and other ferrous products and services.
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