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

Key Points

• JPMorgan Chase & Co. raised its price target on Vale from $18.50 to $19.50 and kept an overweight rating, implying about 18% upside from the prior close.
• Other analysts have also turned more positive on Vale, with several firms lifting price targets; overall, MarketBeat says the stock carries a Moderate Buy consensus and an average target of $16.54.
• Vale shares were trading around $16.51, near their 52-week high of $17.94, even after the company recently posted EPS and revenue below estimates for its latest quarter.

Vale (NYSE:VALE - Get Free Report) had its target price lifted by analysts at JPMorgan Chase & Co. from $18.50 to $19.50 in a research report issued on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the basic materials company's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 18.15% from the stock's previous close.

A number of other equities analysts have also recently issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of Vale from $13.80 to $18.00 and gave the stock a "buy" rating in a research report on Friday, January 30th. UBS Group upped their price target on Vale from $12.00 to $16.00 and gave the stock a "neutral" rating in a research note on Friday, March 27th. Morgan Stanley increased their price target on Vale from $18.00 to $19.50 and gave the stock an "overweight" rating in a report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $18.00 price objective on shares of Vale in a report on Friday, May 15th. Finally, Scotiabank reaffirmed a "sector perform" rating and set a $16.50 target price on shares of Vale in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Vale presently has an average rating of "Moderate Buy" and an average price target of $16.54.

Vale Trading Up 0.2%

NYSE VALE traded up $0.04 during trading hours on Friday, hitting $16.51. 11,066,127 shares of the company's stock were exchanged, compared to its average volume of 33,319,605. The firm has a market cap of $74.92 billion, a price-to-earnings ratio of 24.59 and a beta of 0.46. The stock has a 50-day simple moving average of $16.22 and a 200 day simple moving average of $14.98. 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 $8.97 and a 1-year high of $17.94.

Vale (NYSE:VALE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The basic materials company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.08). The company had revenue of $9.26 billion for the quarter, compared to analyst estimates of $9.53 billion. Vale had a return on equity of 21.10% and a net margin of 7.21%. On average, equities analysts forecast that Vale will post 2.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Sobrinho Sami Arap acquired 12,990 shares of the stock in a transaction dated Wednesday, April 1st. The stock was 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 directly owned 12,990 shares in the company, valued at $209,268.90. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Parenti Grazielle Tallia bought 10,464 shares of the business's stock in a transaction that occurred on Wednesday, April 1st. The shares were bought at an average cost of $16.11 per share, for a total transaction of $168,575.04. Following the transaction, the insider owned 10,464 shares of the company's stock, valued at $168,575.04. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Institutional Trading of Vale

Several institutional investors have recently made changes to their positions in the company. N.E.W. Advisory Services LLC purchased a new position in Vale during the fourth quarter worth about $26,000. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna lifted its position in shares of 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 buying an additional 1,155 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Vale by 60.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 2,748 shares of the basic materials company's stock worth $30,000 after buying an additional 1,030 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. Finally, Triumph Capital Management bought a new position in shares of Vale in the third quarter valued at approximately $34,000. Institutional investors 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.

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