JPMorgan Chase & Co. Issues Positive Forecast for Vale (NYSE:VALE) Stock Price

Key Points

• JPMorgan Chase & Co. has raised its price target for Vale's stock from $13.50 to $14.00, indicating a potential upside of 22.76% from its previous close.
• Multiple analysts have given positive ratings for Vale, with eight recommending a buy and an average target price set at $12.13.
• Vale's shares recently traded at $11.40, with a market capitalization of $51.76 billion and a solid earnings performance, reporting $0.50 EPS exceeding estimates.

Vale (NYSE:VALE - Get Free Report) had its price target raised by stock analysts at JPMorgan Chase & Co. from $13.50 to $14.00 in a report issued on Monday,Benzinga reports. The firm currently has an "overweight" rating on the basic materials company's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 22.76% from the stock's previous close.

VALE has been the topic of a number of other reports. Morgan Stanley set a $11.50 target price on Vale in a report on Wednesday, October 8th. HSBC lifted their target price on Vale from $12.25 to $13.50 and gave the stock a "buy" rating in a report on Friday. Barclays lifted their target price on Vale from $13.70 to $13.80 and gave the stock an "overweight" rating in a report on Friday, October 10th. Clarkson Capital began coverage on Vale in a research note on Wednesday, September 3rd. They issued a "buy" rating and a $12.00 price target on the stock. Finally, UBS Group lifted their price target on Vale from $10.00 to $11.00 and gave the stock a "neutral" rating in a research note on Monday, October 6th. Eight research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Vale currently has an average rating of "Hold" and an average price target of $12.13.

Vale Stock Performance

Shares of VALE traded up $0.30 during trading hours on Monday, reaching $11.40. 11,930,232 shares of the company's stock traded hands, compared to its average volume of 35,618,336. The firm has a market capitalization of $51.76 billion, a price-to-earnings ratio of 9.26 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.22 and a quick ratio of 0.85. Vale has a twelve month low of $8.06 and a twelve month high of $11.40. The business's fifty day simple moving average is $10.57 and its two-hundred day simple moving average is $9.91.

Vale (NYSE:VALE - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.16. The company had revenue of $8.80 billion for the quarter, compared to analyst estimates of $9.54 billion. Vale had a return on equity of 18.14% and a net margin of 14.23%. Analysts predict that Vale will post 1.85 earnings per share for the current year.

Institutional Trading of Vale

Institutional investors and hedge funds have recently modified their holdings of the company. Banque Transatlantique SA bought a new stake in shares of Vale during the first quarter valued at approximately $30,000. CENTRAL TRUST Co acquired a new position in Vale in the second quarter worth $34,000. GAMMA Investing LLC boosted its stake in Vale by 98.4% in the second quarter. GAMMA Investing LLC now owns 4,075 shares of the basic materials company's stock worth $40,000 after purchasing an additional 2,021 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in Vale by 193.0% in the first quarter. Golden State Wealth Management LLC now owns 4,119 shares of the basic materials company's stock worth $41,000 after purchasing an additional 2,713 shares in the last quarter. Finally, J.Safra Asset Management Corp acquired a new position in Vale in the first quarter worth $41,000. 21.85% of the stock is currently owned by institutional investors.

About Vale

Vale SA, together with its subsidiaries, produces and sells iron ore and iron ore pellets for use as raw materials in steelmaking in Brazil and internationally. The company operates through Iron Solutions and Energy Transition Materials segments. The Iron Solutions segment produces and extracts iron ore and pellets, manganese, and other ferrous products; and provides related logistic services.

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