Vale (NYSE:VALE) Posts Quarterly Earnings Results, Misses Expectations By $0.10 EPS

Vale (NYSE:VALE) issued its quarterly earnings results on Thursday. The basic materials company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.10), FiscalAI reports. The firm had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $10.47 billion. Vale had a return on equity of 21.10% and a net margin of 7.21%.

Vale Trading Down 0.1%

VALE traded down $0.01 during trading hours on Friday, reaching $14.97. The company’s stock had a trading volume of 23,026,910 shares, compared to its average volume of 29,757,270. The stock has a market cap of $67.97 billion, a PE ratio of 22.43 and a beta of 0.46. Vale has a fifty-two week low of $9.36 and a fifty-two week high of $17.94. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.24 and a quick ratio of 0.79. The business’s 50-day moving average is $15.21 and its 200-day moving average is $15.83.

Analyst Upgrades and Downgrades

VALE has been the topic of several research reports. Bank of America raised shares of Vale from a “neutral” rating to a “buy” rating and raised their price target for the stock from $18.00 to $19.00 in a research note on Thursday, April 2nd. Wells Fargo & Company dropped their price target on Vale from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Thursday, July 9th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $16.50 price target (down from $19.50) on shares of Vale in a report on Wednesday, July 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Vale in a research report on Wednesday, July 8th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Vale in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $16.15.

Hedge Funds Weigh In On Vale

Large investors have recently modified their holdings of the business. Quadrant Capital Group LLC raised its holdings in Vale by 1.3% in the fourth quarter. Quadrant Capital Group LLC now owns 66,870 shares of the basic materials company’s stock valued at $871,000 after acquiring an additional 853 shares in the last quarter. Parallel Advisors LLC grew its holdings in Vale by 5.4% during the 3rd quarter. Parallel Advisors LLC now owns 17,350 shares of the basic materials company’s stock worth $188,000 after acquiring an additional 885 shares in the last quarter. Caitlin John LLC grew its holdings in Vale by 85.4% during the 4th quarter. Caitlin John LLC now owns 4,310 shares of the basic materials company’s stock worth $56,000 after acquiring an additional 1,985 shares in the last quarter. State of Wyoming lifted its position in shares of Vale by 17.5% during the fourth quarter. State of Wyoming now owns 16,120 shares of the basic materials company’s stock worth $210,000 after purchasing an additional 2,400 shares during the last quarter. Finally, Johnson Investment Counsel Inc. increased its holdings in Vale by 5.9% in the fourth quarter. Johnson Investment Counsel Inc. now owns 42,742 shares of the basic materials company’s stock valued at $557,000 after buying an additional 2,400 shares during the last quarter. Institutional investors and hedge funds own 21.85% of the company’s stock.

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.