Vale S.A. (VALE) Cut to “Hold” at BidaskClub
BidaskClub cut shares of Vale S.A. (NYSE:VALE) from a buy rating to a hold rating in a research note released on Friday morning.
Several other brokerages have also recently weighed in on VALE. Sandler O’Neill upgraded shares of Vale from a hold rating to a buy rating in a research note on Wednesday, September 13th. Santander upgraded shares of Vale from a hold rating to a buy rating in a research note on Tuesday, September 12th. BMO Capital Markets set a $8.00 price objective on shares of Vale and gave the stock a hold rating in a research note on Tuesday, August 8th. TheStreet cut shares of Vale from a b- rating to a c+ rating in a research note on Thursday, August 17th. Finally, Royal Bank Of Canada set a $11.00 price objective on shares of 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, ten have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $9.81.
Vale (NYSE:VALE) opened at 9.85 on Friday. Vale has a 52-week low of $5.27 and a 52-week high of $11.72. The firm has a market cap of $50.76 billion, a price-to-earnings ratio of 14.21 and a beta of 1.56. The company has a 50-day moving average of $10.52 and a 200 day moving average of $9.30.
Vale (NYSE:VALE) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. Vale had a net margin of 11.01% and a return on equity of 16.74%. The business had revenue of $7.24 billion during the quarter. On average, equities research analysts anticipate that Vale will post $1.19 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Cetera Investment Advisers acquired a new position in Vale during the 2nd quarter worth approximately $2,611,000. Verition Fund Management LLC acquired a new position in Vale during the 2nd quarter worth approximately $107,000. Capital Innovations LLC increased its position in Vale by 82.8% during the 2nd quarter. Capital Innovations LLC now owns 40,200 shares of the basic materials company’s stock worth $352,000 after purchasing an additional 18,210 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new position in Vale during the 2nd quarter worth approximately $438,000. Finally, Maverick Capital Ltd. increased its position in Vale by 112.0% during the 2nd quarter. Maverick Capital Ltd. now owns 276,820 shares of the basic materials company’s stock worth $2,422,000 after purchasing an additional 146,250 shares in the last quarter. Institutional investors and hedge funds own 9.57% 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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