Vale (NYSE:VALE) PT Raised to $17.00 at Barclays

Vale (NYSE:VALE) had its price target lifted by Barclays from $16.00 to $17.00 in a research note released on Tuesday, Benzinga reports. Barclays currently has an overweight rating on the basic materials company’s stock.

A number of other equities analysts have also weighed in on the stock. StockNews.com started coverage on shares of Vale in a research report on Saturday, March 30th. They issued a buy rating for the company. Deutsche Bank Aktiengesellschaft dropped their price target on Vale from $18.00 to $16.00 and set a hold rating for the company in a research note on Thursday, April 4th. Royal Bank of Canada reissued an outperform rating and issued a $19.00 target price on shares of Vale in a report on Monday, February 12th. JPMorgan Chase & Co. reduced their price target on shares of Vale from $20.50 to $20.00 and set an overweight rating on the stock in a research report on Friday, April 12th. Finally, Bank of America reiterated a neutral rating and set a $13.00 price objective (down previously from $20.00) on shares of Vale in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $16.67.

Vale Stock Performance

Shares of VALE opened at $11.84 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.28 and a debt-to-equity ratio of 0.38. The stock has a market cap of $53.08 billion, a P/E ratio of 6.47, a P/E/G ratio of 3.29 and a beta of 0.97. The business’s 50 day moving average price is $12.67 and its 200-day moving average price is $13.77. Vale has a 52 week low of $11.52 and a 52 week high of $16.08.

Vale (NYSE:VALE) last posted its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.48). The firm had revenue of $13.05 billion for the quarter, compared to analysts’ expectations of $12.95 billion. Vale had a net margin of 19.10% and a return on equity of 20.00%. During the same quarter in the previous year, the company earned $0.82 EPS. Equities research analysts anticipate that Vale will post 2.31 earnings per share for the current fiscal year.

Vale Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 13th were issued a $0.3182 dividend. The ex-dividend date was Tuesday, March 12th. This represents a dividend yield of 9.7%. Vale’s dividend payout ratio is presently 64.48%.

Institutional Trading of Vale

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pathstone Family Office LLC lifted its holdings in Vale by 6.1% during the 4th quarter. Pathstone Family Office LLC now owns 11,612 shares of the basic materials company’s stock worth $197,000 after buying an additional 664 shares in the last quarter. Greenleaf Trust boosted its holdings in Vale by 2.8% in the fourth quarter. Greenleaf Trust now owns 30,283 shares of the basic materials company’s stock valued at $480,000 after purchasing an additional 827 shares during the period. AdvisorNet Financial Inc grew its stake in Vale by 44.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 2,702 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 835 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings in Vale by 7.0% during the 3rd quarter. Rehmann Capital Advisory Group now owns 14,010 shares of the basic materials company’s stock worth $188,000 after purchasing an additional 915 shares during the period. Finally, Blue Trust Inc. raised its position in Vale by 10.2% in the 4th quarter. Blue Trust Inc. now owns 10,097 shares of the basic materials company’s stock valued at $160,000 after purchasing an additional 932 shares in the last quarter. Institutional investors and hedge funds own 21.85% of the company’s stock.

Vale Company Profile

Vale SA, together with its subsidiaries, produces and sells iron ore and iron ore pellets for use as raw materials in steelmaking in Brazil and internationally. The company operates through Iron Solutions and Energy Transition Materials segments. The Iron Solutions segment produces and extracts iron ore and pellets, manganese, and other ferrous products; and provides related logistic services.