Vale (NYSE:VALE) Stock Rating Upgraded by UBS Group

UBS Group upgraded shares of Vale (NYSE:VALE) from a neutral rating to a buy rating in a research report report published on Tuesday morning, Marketbeat Ratings reports. The firm currently has $15.00 price objective on the basic materials company’s stock, up from their previous price objective of $13.00.

Other research analysts have also issued reports about the stock. StockNews.com initiated coverage on shares of Vale in a research note on Saturday, March 30th. They issued a buy rating on the stock. Barclays upped their price objective on Vale from $16.00 to $17.00 and gave the company an overweight rating in a research note on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft lowered their target price on Vale from $18.00 to $16.00 and set a hold rating on the stock in a research note on Thursday, April 4th. Bank of America reiterated a neutral rating and issued a $13.00 price objective (down from $20.00) on shares of Vale in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Vale from $20.50 to $20.00 and set an overweight rating for the company in a research note on Friday, April 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Vale has a consensus rating of Moderate Buy and an average price target of $16.67.

Vale Price Performance

Shares of VALE opened at $12.70 on Tuesday. The firm has a fifty day moving average price of $12.40 and a 200 day moving average price of $13.72. The stock has a market cap of $56.91 billion, a PE ratio of 7.01, a price-to-earnings-growth ratio of 5.44 and a beta of 0.97. Vale has a 1-year low of $11.52 and a 1-year high of $16.08. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.12 and a quick ratio of 0.79.

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 net margin of 18.72% and a return on equity of 19.59%. The firm had revenue of $13.05 billion during the quarter, compared to analyst estimates of $12.95 billion. During the same period last year, the company earned $0.82 earnings per share. As a group, sell-side analysts anticipate that Vale will post 2.23 EPS for the current year.

Vale Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 13th were issued a dividend of $0.3182 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a yield of 9.7%. Vale’s dividend payout ratio is presently 65.19%.

Hedge Funds Weigh In On Vale

A number of institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC lifted its stake in shares of Vale by 7.7% during the third quarter. Commonwealth Equity Services LLC now owns 237,989 shares of the basic materials company’s stock valued at $3,189,000 after buying an additional 17,089 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in shares of Vale by 3.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 111,130 shares of the basic materials company’s stock valued at $1,489,000 after purchasing an additional 3,799 shares during the period. Park Avenue Securities LLC lifted its position in Vale by 7.2% during the third quarter. Park Avenue Securities LLC now owns 28,410 shares of the basic materials company’s stock worth $381,000 after buying an additional 1,906 shares during the period. Inspire Advisors LLC boosted its stake in Vale by 10.7% in the 3rd quarter. Inspire Advisors LLC now owns 14,051 shares of the basic materials company’s stock worth $188,000 after buying an additional 1,360 shares during the last quarter. Finally, Matthews International Capital Management LLC increased its stake in shares of Vale by 8.9% during the 3rd quarter. Matthews International Capital Management LLC now owns 90,939 shares of the basic materials company’s stock valued at $1,219,000 after acquiring an additional 7,429 shares during the last quarter. 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.