Vale (VALE) Lifted to “Overweight” at Morgan Stanley
Morgan Stanley upgraded shares of Vale (NYSE:VALE) from an equal weight rating to an overweight rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm currently has $12.00 price target on the basic materials company’s stock.
Other analysts also recently issued research reports about the stock. Macquarie raised shares of Vale from a neutral rating to an outperform rating in a report on Tuesday, November 21st. Royal Bank Of Canada raised shares of Vale from a sector perform rating to an outperform rating and upped their price target for the company from $11.00 to $14.50 in a report on Monday, November 20th. TheStreet raised shares of Vale from a c+ rating to a b- rating in a report on Wednesday, November 8th. Zacks Investment Research downgraded shares of Vale from a buy rating to a hold rating in a report on Monday, October 23rd. Finally, Goldman Sachs Group reaffirmed a neutral rating on shares of Vale in a report on Monday, October 23rd. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Vale presently has a consensus rating of Buy and a consensus price target of $10.33.
Vale (VALE) opened at $11.01 on Monday. The company has a current ratio of 1.86, a quick ratio of 1.47 and a debt-to-equity ratio of 0.52. Vale has a 1 year low of $7.47 and a 1 year high of $11.72. The firm has a market cap of $60,210.00, a PE ratio of 7.22, a price-to-earnings-growth ratio of 0.67 and a beta of 1.56.
Vale (NYSE:VALE) last issued its earnings results on Thursday, October 26th. The basic materials company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.15. Vale had a net margin of 15.25% and a return on equity of 19.02%. The company had revenue of $9.05 billion for the quarter. equities analysts anticipate that Vale will post 1.25 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Trust N.A. lifted its stake in shares of 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 valued at $101,000 after buying an additional 893 shares during the period. Verition Fund Management LLC purchased a new position in shares of Vale during the second quarter valued at approximately $107,000. Wedbush Securities Inc. lifted its stake in shares of Vale by 0.7% during the second quarter. Wedbush Securities Inc. now owns 12,991 shares of the basic materials company’s stock valued at $114,000 after buying an additional 84 shares during the period. Baldwin Investment Management LLC increased its position 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 during the last quarter. Finally, Private Advisor Group LLC acquired a new position in Vale during the second quarter worth approximately $127,000. 20.37% of the stock is currently owned by institutional investors and hedge funds.
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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