Vale (NYSE:VALE) Rating Lowered to “Strong Sell” at Zacks Research

Vale (NYSE:VALE) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Thursday,Zacks.com reports.

A number of other analysts have also issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Vale from $19.50 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Vale in a research note on Monday, June 15th. Wall Street Zen downgraded shares of Vale from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $18.00 price target on shares of Vale in a report on Friday, May 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Vale in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $16.15.

Vale Stock Up 0.3%

NYSE:VALE opened at $15.03 on Thursday. The business’s fifty day moving average price is $15.19 and its 200 day moving average price is $15.82. The firm has a market capitalization of $68.22 billion, a price-to-earnings ratio of 22.43 and a beta of 0.46. The company has a current ratio of 1.24, a quick ratio of 0.79 and a debt-to-equity ratio of 0.48. Vale has a 1-year low of $9.36 and a 1-year high of $17.94.

Vale (NYSE:VALE) last announced its quarterly earnings data on Tuesday, April 28th. The basic materials company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). Vale had a return on equity of 21.10% and a net margin of 7.21%.The business had revenue of $9.26 billion for the quarter, compared to analyst estimates of $9.53 billion. On average, sell-side analysts forecast that Vale will post 1.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vale

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. N.E.W. Advisory Services LLC bought a new stake in Vale during the fourth quarter worth approximately $26,000. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna grew its holdings in Vale by 128.3% during the fourth quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna now owns 2,055 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 1,155 shares during the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of Vale in the fourth quarter valued at approximately $33,000. Triumph Capital Management bought a new position in shares of Vale in the third quarter valued at approximately $34,000. Finally, Cornerstone Planning Group LLC lifted its stake in shares of 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 during the last quarter. 21.85% of the stock is currently owned by institutional investors and hedge funds.

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.