Vale S.A. (NYSE:VALE) Receives $16.67 Average Price Target from Brokerages

Shares of Vale S.A. (NYSE:VALE) have earned an average recommendation of “Hold” from the eleven brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $16.67.

A number of research analysts recently weighed in on the stock. StockNews.com initiated coverage on shares of Vale in a research report on Saturday, March 30th. They issued a “buy” rating for the company. Bank of America reissued a “neutral” rating and set a $13.00 target price (down from $20.00) on shares of Vale in a report on Tuesday, April 9th. JPMorgan Chase & Co. dropped their target price 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. Barclays raised their price target on shares of Vale from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $19.00 target price on shares of Vale in a research note on Monday, February 12th.

Vale Stock Up 1.3 %

Shares of VALE opened at $12.37 on Friday. The firm has a market capitalization of $55.43 billion, a P/E ratio of 6.76, a P/E/G ratio of 5.22 and a beta of 0.97. The company has a 50-day simple moving average of $12.59 and a 200-day simple moving average of $13.76. Vale has a 52 week low of $11.52 and a 52 week high of $16.08. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.96 and a current ratio of 1.28.

Vale (NYSE:VALE) last announced its earnings results on Thursday, February 22nd. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.48). Vale had a return on equity of 20.00% and a net margin of 19.10%. The company had revenue of $13.05 billion for the quarter, compared to analyst estimates of $12.95 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. On average, equities research analysts expect that Vale will post 2.25 earnings per share for the current year.

Vale Cuts Dividend

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Versant Capital Management Inc purchased a new stake in Vale in the 1st quarter valued at $26,000. Systematic Alpha Investments LLC purchased a new position in Vale during the 3rd quarter worth approximately $31,000. Whittier Trust Co. grew its stake in shares of Vale by 423.1% in the 4th quarter. Whittier Trust Co. now owns 1,951 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 1,578 shares during the last quarter. Rakuten Securities Inc. purchased a new position in shares of Vale in the 4th quarter valued at approximately $31,000. Finally, Richardson Financial Services Inc. acquired a new stake in shares of Vale in the 4th quarter valued at approximately $31,000. 21.85% of the stock is owned by institutional investors and hedge funds.

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.