Vale (NYSE:VALE) Downgraded to “Hold” Rating by Zacks Research

Zacks Research lowered shares of Vale (NYSE:VALE) from a strong-buy rating to a hold rating in a research report report published on Thursday morning,Zacks.com reports.

A number of other analysts have also issued reports on the company. The Goldman Sachs Group boosted their target price on Vale from $13.80 to $18.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Vale in a report on Monday, December 29th. Scotiabank downgraded Vale from a “sector outperform” rating to a “sector perform” rating and lifted their price objective for the company from $14.00 to $15.00 in a research report on Thursday, January 8th. Wells Fargo & Company lifted their price target on shares of Vale from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 28th. Finally, Barclays lifted their price target on shares of Vale from $14.50 to $15.50 and gave the company an “overweight” rating in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.73.

Vale Price Performance

Shares of VALE opened at $16.31 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.24 and a quick ratio of 0.82. The business’s 50 day simple moving average is $14.17 and its 200-day simple moving average is $12.07. Vale has a one year low of $8.06 and a one year high of $17.34.

Vale Announces Dividend

The business also recently declared a special dividend, which was paid on Wednesday, January 14th. Investors of record on Friday, December 12th were given a $0.2331 dividend. The ex-dividend date was Friday, December 12th. Vale’s dividend payout ratio (DPR) is 67.69%.

Institutional Investors Weigh In On Vale

A number of hedge funds have recently made changes to their positions in VALE. N.E.W. Advisory Services LLC purchased a new position in Vale during the 4th quarter worth $26,000. Cary Street Partners Investment Advisory LLC grew its stake in shares of Vale by 60.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 2,748 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 1,030 shares during the last quarter. Cornerstone Planning Group LLC raised its stake in Vale by 15,360.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 3,092 shares of the basic materials company’s stock worth $40,000 after buying an additional 3,072 shares in the last quarter. Triumph Capital Management bought a new position in Vale in the 3rd quarter worth about $34,000. Finally, CENTRAL TRUST Co purchased a new stake in Vale in the second quarter worth approximately $34,000. Institutional investors and hedge funds own 21.85% of the company’s stock.

Vale Company Profile

Vale SA is a Brazilian multinational mining company and one of the world’s largest producers of iron ore and iron ore pellets. In addition to iron ore, the company produces and sells a range of bulk commodities and metals, including nickel, copper, coal, manganese, ferroalloys and cobalt, and it participates in the fertilizer inputs market. Vale also operates extensive logistics assets — including rail, port and maritime logistics — that support its mining and export activities and provide services to third parties in some regions.

Headquartered in Brazil, Vale maintains a global operational footprint with mining, processing and shipping activities across the Americas, Africa, Asia and Oceania.