Vale SA (VALE) Downgraded to “Hold” at Vetr Inc.
Vetr downgraded shares of Vale SA (NYSE:VALE) from a buy rating to a hold rating in a report published on Tuesday. They currently have $5.84 price objective on the stock.
A number of other equities research analysts also recently weighed in on the company. Barclays PLC upgraded Vale SA from an underweight rating to an equal weight rating in a research report on Wednesday, September 21st. JPMorgan Chase & Co. upgraded Vale SA from a neutral rating to an overweight rating in a research report on Monday, September 12th. Royal Bank Of Canada boosted their target price on Vale SA from $5.50 to $6.00 and gave the stock a sector perform rating in a research report on Thursday, September 8th. Morgan Stanley upgraded Vale SA from an equal weight rating to an overweight rating and boosted their target price for the stock from $4.80 to $6.20 in a research report on Tuesday, August 9th. Finally, Goldman Sachs Group Inc. assumed coverage on Vale SA in a report on Thursday, June 9th. They issued a neutral rating and a $4.40 price objective for the company. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Vale SA currently has an average rating of Hold and a consensus target price of $5.00.
Shares of Vale SA (NYSE:VALE) opened at 5.57 on Tuesday. The firm’s market capitalization is $28.70 billion. The stock’s 50 day moving average price is $5.45 and its 200 day moving average price is $5.05. Vale SA has a one year low of $2.13 and a one year high of $6.26.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Kiltearn Partners LLP boosted its position in shares of 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 period. Adage Capital Partners GP L.L.C. bought a new position in shares of Vale SA during the first quarter valued at approximately $21,892,000. Capital Growth Management LP bought a new position in shares of Vale SA during the first quarter valued at approximately $13,051,000. LPL Financial LLC boosted its position in shares of 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 period. Finally, Scotia Capital Inc. boosted its position in shares of Vale SA by 13.1% in the first quarter. Scotia Capital Inc. now owns 63,280 shares of the company’s stock valued at $267,000 after buying an additional 7,320 shares during the period. 8.58% of the stock is owned by hedge funds and other institutional investors.
About Vale SA
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.
To view Vetr’s full report, visit Vetr’s official website.
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