Vale S.A. (NYSE:VALE) received a $8.00 target price from stock analysts at BMO Capital Markets in a note issued to investors on Tuesday. The brokerage currently has a “hold” rating on the basic materials company’s stock. BMO Capital Markets’ price objective suggests a potential downside of 21.57% from the company’s previous close.

A number of other equities research analysts have also weighed in on VALE. Royal Bank Of Canada reaffirmed a “hold” rating and set a $11.00 target price on shares of Vale in a research report on Wednesday, April 19th. Vetr lowered Vale from a “strong-buy” rating to a “buy” rating and set a $9.76 target price for the company. in a research report on Monday, April 24th. HSBC Holdings plc reaffirmed a “hold” rating and set a $10.00 target price (down from $10.25) on shares of Vale in a research report on Wednesday, May 17th. Credit Suisse Group reissued a “hold” rating and issued a $8.00 price target on shares of Vale in a research report on Wednesday, May 17th. Finally, Jefferies Group LLC set a $10.00 price target on Vale and gave the stock a “hold” rating in a research report on Friday, May 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $8.99.

Shares of Vale (NYSE VALE) traded down 1.45% during trading on Tuesday, hitting $10.20. The company had a trading volume of 44,404,926 shares. The stock’s 50-day moving average price is $9.00 and its 200 day moving average price is $9.28. The company has a market capitalization of $52.56 billion, a P/E ratio of 14.45 and a beta of 1.55. Vale has a 52 week low of $4.86 and a 52 week high of $11.70.

Vale (NYSE:VALE) last issued its earnings results on Thursday, July 27th. The basic materials company reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. The business had revenue of $7.24 billion during the quarter. Vale had a return on equity of 16.74% and a net margin of 11.01%. On average, equities research analysts forecast that Vale will post $1.01 earnings per share for the current year.

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Several hedge funds have recently modified their holdings of the company. Raymond James Trust N.A. bought a new stake in shares of Vale during the first quarter worth approximately $101,000. Nine Chapters Capital Management LLC bought a new stake in shares of Vale during the first quarter worth approximately $107,000. Cadinha & Co. LLC bought a new stake in shares of Vale during the first quarter worth approximately $109,000. Wedbush Securities Inc. increased its stake in shares of Vale by 0.7% in the second quarter. Wedbush Securities Inc. now owns 12,991 shares of the basic materials company’s stock worth $114,000 after buying an additional 84 shares during the last quarter. Finally, Baldwin Investment Management LLC increased its stake in shares of Vale by 0.3% in the second quarter. Baldwin Investment Management LLC now owns 13,701 shares of the basic materials company’s stock worth $120,000 after buying an additional 36 shares during the last quarter. Hedge funds and other institutional investors own 8.88% of the company’s stock.

Vale Company Profile

Vale SA is a global producer of iron ore and iron ore pellets, key raw materials for steelmaking, and producer of nickel. The Company also produces copper, metallurgical and thermal coal, potash, phosphates and other fertilizer nutrients, manganese ore, ferroalloys, platinum group metals, gold, silver and cobalt.

Analyst Recommendations for Vale (NYSE:VALE)

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