Vale (VALE) Stock Rating Reaffirmed by Jefferies Group
Jefferies Group reaffirmed their hold rating on shares of Vale (NYSE:VALE) in a research report report published on Thursday. They currently have a $14.50 price target on the basic materials company’s stock. Jefferies Group also issued estimates for Vale’s FY2018 earnings at $1.68 EPS.
A number of other brokerages have also recently commented on VALE. Cowen reaffirmed a market perform rating and issued a $15.00 price target (up from $11.00) on shares of Vale in a research note on Thursday. Zacks Investment Research raised Vale from a hold rating to a strong-buy rating and set a $16.00 price target on the stock in a research note on Monday, February 19th. Credit Suisse Group reaffirmed a buy rating and issued a $16.00 price target on shares of Vale in a research note on Wednesday, January 24th. Deutsche Bank cut Vale from a buy rating to a hold rating and lifted their price target for the stock from $12.00 to $12.50 in a research note on Tuesday, January 16th. Finally, Barclays set a $15.00 price target on Vale and gave the stock a buy rating in a research note on Monday, January 8th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $13.18.
Shares of Vale (NYSE:VALE) opened at $13.39 on Thursday. The firm has a market capitalization of $71,090.00, a P/E ratio of 11.16, a P/E/G ratio of 0.89 and a beta of 1.55. Vale has a 12-month low of $7.47 and a 12-month high of $14.67. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.45 and a quick ratio of 1.47.
Several institutional investors and hedge funds have recently bought and sold shares of VALE. OppenheimerFunds Inc. purchased a new position in shares of Vale during the fourth quarter valued at approximately $184,795,000. BlackRock Inc. increased its stake in shares of Vale by 7.8% during the fourth quarter. BlackRock Inc. now owns 106,225,211 shares of the basic materials company’s stock valued at $1,299,134,000 after buying an additional 7,698,364 shares during the period. Investec Asset Management LTD increased its stake in shares of Vale by 379.3% during the fourth quarter. Investec Asset Management LTD now owns 8,309,203 shares of the basic materials company’s stock valued at $101,622,000 after buying an additional 6,575,645 shares during the period. Acadian Asset Management LLC increased its stake in shares of Vale by 43.7% during the fourth quarter. Acadian Asset Management LLC now owns 20,382,633 shares of the basic materials company’s stock valued at $249,279,000 after buying an additional 6,199,051 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Vale by 448.5% during the fourth quarter. Millennium Management LLC now owns 6,049,489 shares of the basic materials company’s stock valued at $73,985,000 after buying an additional 4,946,586 shares during the period. 19.03% of the stock is currently owned by hedge funds and other institutional investors.
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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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