Vetr Inc. Upgrades Vale SA (VALE) to Buy
Vetr upgraded shares of Vale SA (NYSE:VALE) from a hold rating to a buy rating in a report published on Wednesday morning. The brokerage currently has $6.06 price objective on the stock.
A number of other brokerages also recently issued reports on VALE. Morgan Stanley raised Vale SA from an equal weight rating to an overweight rating and raised their price objective for the stock from $4.80 to $6.20 in a research report on Tuesday, August 9th. JPMorgan Chase & Co. raised Vale SA from a neutral rating to an overweight rating in a research report on Monday, September 12th. Barclays PLC raised Vale SA from an underweight rating to an equal weight rating in a research report on Wednesday, September 21st. Finally, Royal Bank Of Canada raised their price objective 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. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $5.14.
Shares of Vale SA (NYSE:VALE) opened at 5.68 on Wednesday. The stock’s market capitalization is $29.27 billion. The firm’s 50 day moving average is $5.45 and its 200 day moving average is $5.13. Vale SA has a 52-week low of $2.13 and a 52-week high of $6.26.
A number of large investors have recently modified their holdings of VALE. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Vale SA during the first quarter worth $21,892,000. Capital Growth Management LP purchased a new stake in shares of Vale SA during the first quarter worth $13,051,000. Kiltearn Partners LLP boosted its stake 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 worth $71,830,000 after buying an additional 1,560,700 shares in the last quarter. LPL Financial LLC boosted its stake 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 worth $1,328,000 after buying an additional 12,910 shares in the last quarter. Finally, Scotia Capital Inc. boosted its stake 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 worth $267,000 after buying an additional 7,320 shares in the last quarter. Institutional investors own 8.63% of the company’s stock.
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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