Barclays Issues Positive Forecast for Vale (NYSE:VALE) Stock Price

Key Points

• Barclays raised Vale’s price target from $16.75 to $17.00 while maintaining an “equal weight” rating, implying approximately 13.11% upside from the current price.
• Analyst sentiment remains broadly cautious: Vale has a consensus “Hold” rating and an average price target of $16.19, with nine analysts rating it a Hold.
• Vale’s latest quarterly results fell short of expectations, reporting $0.36 in earnings per share versus the $0.46 consensus estimate and revenue of $10.24 billion versus $10.47 billion expected.

Vale (NYSE:VALE - Get Free Report) had its price objective raised by research analysts at Barclays from $16.75 to $17.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the basic materials company's stock. Barclays's price objective would suggest a potential upside of 13.11% from the stock's current price.

Several other research analysts have also recently issued reports on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Vale in a report on Wednesday, July 8th. Morgan Stanley reiterated an "equal weight" rating and set a $16.50 price target (down from $19.50) on shares of Vale in a research note on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $18.00 price target on shares of Vale in a research report on Friday, May 15th. The Goldman Sachs Group downgraded shares of Vale from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $18.00 to $16.00 in a research note on Monday, July 27th. Finally, Scotiabank cut their target price on Vale from $19.00 to $16.00 and set a "sector perform" rating on the stock in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Vale has a consensus rating of "Hold" and an average price target of $16.19.

Vale Price Performance

VALE stock opened at $15.03 on Monday. The business has a 50 day moving average price of $15.19 and a 200 day moving average price of $15.84. The company has a quick ratio of 0.79, a current ratio of 1.24 and a debt-to-equity ratio of 0.48. The stock has a market cap of $68.22 billion, a price-to-earnings ratio of 30.67 and a beta of 0.47. Vale has a fifty-two week low of $9.36 and a fifty-two week high of $17.94.

Vale (NYSE:VALE - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.10). Vale had a net margin of 5.11% and a return on equity of 19.99%. The company had revenue of $10.24 billion during the quarter, compared to analysts' expectations of $10.47 billion. Equities research analysts anticipate that Vale will post 1.92 earnings per share for the current fiscal year.

Institutional Trading of Vale

Institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its position in Vale by 2.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 28,913 shares of the basic materials company's stock worth $377,000 after purchasing an additional 632 shares during the last quarter. Chesapeake Capital Corp IL raised its holdings in shares of Vale by 0.9% in the fourth quarter. Chesapeake Capital Corp IL now owns 72,358 shares of the basic materials company's stock valued at $943,000 after buying an additional 646 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in shares of Vale by 1.8% in the fourth quarter. Checchi Capital Advisers LLC now owns 38,134 shares of the basic materials company's stock valued at $497,000 after buying an additional 675 shares during the last quarter. NewEdge Wealth LLC boosted its stake in shares of Vale by 2.8% during the first quarter. NewEdge Wealth LLC now owns 25,799 shares of the basic materials company's stock worth $410,000 after buying an additional 708 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in shares of Vale by 1.3% during the fourth quarter. Quadrant Capital Group LLC now owns 66,870 shares of the basic materials company's stock worth $871,000 after buying an additional 853 shares during the period. Hedge funds and other institutional investors 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.

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