Vale S.A. (VALE) Downgraded by BidaskClub
Vale S.A. (NYSE:VALE) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Friday.
Several other equities research analysts have also commented on the company. Sandler O’Neill upgraded Vale from a “hold” rating to a “buy” rating in a research note on Wednesday. Santander upgraded Vale from a “hold” rating to a “buy” rating in a research note on Tuesday. TheStreet lowered Vale from a “b-” rating to a “c+” rating in a research note on Thursday, August 17th. BMO Capital Markets set a $8.00 price objective on Vale and gave the stock a “hold” rating in a research note on Tuesday, August 8th. Finally, Royal Bank Of Canada set a $11.00 price objective on Vale and gave the stock a “hold” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $9.67.
Vale (VALE) opened at 10.74 on Friday. The firm’s 50-day moving average price is $10.42 and its 200 day moving average price is $9.30. The stock has a market cap of $55.37 billion, a PE ratio of 15.44 and a beta of 1.56. Vale has a 12-month low of $4.91 and a 12-month high of $11.72.
Vale (NYSE:VALE) last released its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Vale had a return on equity of 16.74% and a net margin of 11.01%. The company had revenue of $7.24 billion during the quarter. Analysts anticipate that Vale will post $1.15 EPS for the current year.
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Large investors have recently added to or reduced their stakes in the business. Raymond James Trust N.A. lifted its stake in Vale by 8.4% during the second quarter. Raymond James Trust N.A. now owns 11,560 shares of the basic materials company’s stock worth $101,000 after purchasing an additional 893 shares in the last quarter. Verition Fund Management LLC acquired a new position in Vale during the second quarter worth $107,000. Wedbush Securities Inc. lifted its stake in Vale by 0.7% during the second quarter. Wedbush Securities Inc. now owns 12,991 shares of the basic materials company’s stock worth $114,000 after purchasing an additional 84 shares in the last quarter. Baldwin Investment Management LLC lifted its stake in Vale by 0.3% during the second quarter. Baldwin Investment Management LLC now owns 13,701 shares of the basic materials company’s stock worth $120,000 after purchasing an additional 36 shares in the last quarter. Finally, HRT Financial LLC acquired a new position in Vale during the first quarter worth $132,000. Institutional investors own 9.58% of the company’s stock.
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.
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