Vale (NYSE:VALE) Given New $16.00 Price Target at Wells Fargo & Company

Vale (NYSE:VALE) had its target price cut by research analysts at Wells Fargo & Company from $17.00 to $16.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 1.51% from the stock’s previous close.

VALE has been the subject of a number of other reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Vale in a research report on Friday, April 10th. JPMorgan Chase & Co. upped their target price on Vale from $18.00 to $18.50 and gave the company an “overweight” rating in a research report on Friday, April 10th. Scotiabank reiterated a “sector perform” rating and set a $16.50 target price on shares of Vale in a research report on Monday, February 9th. Zacks Research downgraded Vale from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. Finally, Wall Street Zen downgraded Vale from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.95.

Vale Stock Performance

NYSE VALE traded up $0.40 on Thursday, reaching $16.25. The stock had a trading volume of 5,448,485 shares, compared to its average volume of 34,978,875. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.15 and a quick ratio of 0.78. The firm has a fifty day moving average of $16.19 and a two-hundred day moving average of $14.46. Vale has a 1-year low of $8.97 and a 1-year high of $17.94. The company has a market cap of $73.74 billion, a P/E ratio of 28.99 and a beta of 0.53.

Vale (NYSE:VALE) last issued its quarterly earnings data on Tuesday, April 28th. The basic materials company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). Vale had a net margin of 6.12% and a return on equity of 20.16%. The firm had revenue of $9.26 billion during the quarter, compared to analyst estimates of $9.33 billion. On average, equities research analysts anticipate that Vale will post 2.08 EPS for the current year.

Insider Buying and Selling at Vale

In other news, VP Sobrinho Sami Arap purchased 12,990 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were purchased at an average cost of $16.11 per share, with a total value of $209,268.90. Following the completion of the purchase, the vice president owned 12,990 shares of the company’s stock, valued at $209,268.90. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider Parenti Grazielle Tallia purchased 10,464 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were purchased at an average cost of $16.11 per share, for a total transaction of $168,575.04. Following the completion of the purchase, the insider directly owned 10,464 shares of the company’s stock, valued at approximately $168,575.04. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information.

Institutional Investors Weigh In On Vale

Institutional investors have recently added to or reduced their stakes in the business. N.E.W. Advisory Services LLC bought a new stake in Vale during the 4th quarter worth approximately $26,000. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna grew its holdings in Vale by 128.3% during the 4th quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna now owns 2,055 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 1,155 shares during the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of Vale during the fourth quarter worth about $33,000. Cary Street Partners Investment Advisory LLC raised its position in shares of Vale by 60.0% during 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 acquiring an additional 1,030 shares during the last quarter. Finally, Cornerstone Planning Group LLC raised its position in shares of Vale by 15,360.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 3,092 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 3,072 shares during the last quarter. 21.85% of the stock is owned by institutional investors.

About Vale

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.