Vale (NYSE:VALE) Given New $29.00 Price Target at Royal Bank of Canada

Thursday, June 3, 2021 | MarketBeat

Vale (NYSE:VALE) had its price target boosted by investment analysts at Royal Bank of Canada from $25.00 to $29.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an "outperform" rating on the basic materials company's stock. Royal Bank of Canada's target price would suggest a potential upside of 27.92% from the company's current price.

Several other research analysts have also recently commented on VALE. BNP Paribas reissued an "underperform" rating and set a $18.30 target price on shares of Vale in a research note on Thursday, March 18th. Barclays upped their target price on shares of Vale from $19.00 to $20.00 and gave the stock an "overweight" rating in a research note on Monday, February 8th. Zacks Investment Research downgraded shares of Vale from a "buy" rating to a "hold" rating and set a $20.00 price target for the company. in a research note on Monday, April 12th. HSBC increased their price objective on shares of Vale from $21.50 to $25.00 and gave the company a "buy" rating in a research report on Wednesday, April 28th. Finally, Exane BNP Paribas cut shares of Vale from an "outperform" rating to an "underperform" rating in a research report on Friday, March 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. Vale has a consensus rating of "Buy" and a consensus price target of $19.68.

Vale stock opened at $22.67 on Thursday. The company has a current ratio of 1.96, a quick ratio of 1.60 and a debt-to-equity ratio of 0.48. The stock's 50-day moving average price is $19.90. Vale has a 12-month low of $10.06 and a 12-month high of $23.01. The firm has a market capitalization of $116.26 billion, a PE ratio of 11.39, a P/E/G ratio of 0.13 and a beta of 0.99.

Vale (NYSE:VALE) last posted its earnings results on Sunday, April 25th. The basic materials company reported $1.09 EPS for the quarter, beating the Zacks' consensus estimate of $1.05 by $0.04. Vale had a net margin of 22.30% and a return on equity of 49.76%. Research analysts anticipate that Vale will post 5.02 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Capital International Investors boosted its stake in Vale by 32.5% in the first quarter. Capital International Investors now owns 167,132,674 shares of the basic materials company's stock valued at $2,904,190,000 after acquiring an additional 41,008,285 shares in the last quarter. BlackRock Inc. grew its stake in Vale by 14.2% during the 1st quarter. BlackRock Inc. now owns 69,968,346 shares of the basic materials company's stock worth $1,216,049,000 after buying an additional 8,719,367 shares during the last quarter. RWC Asset Advisors US LLC acquired a new position in Vale during the fourth quarter worth approximately $196,270,000. AQR Capital Management LLC lifted its stake in Vale by 18.4% in the first quarter. AQR Capital Management LLC now owns 10,381,379 shares of the basic materials company's stock valued at $180,428,000 after buying an additional 1,614,324 shares during the last quarter. Finally, Causeway Capital Management LLC boosted its holdings in shares of Vale by 7.5% in the fourth quarter. Causeway Capital Management LLC now owns 8,571,546 shares of the basic materials company's stock valued at $143,659,000 after acquiring an additional 598,760 shares during the period. 25.48% of the stock is owned by hedge funds and other 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 Ferrous Minerals, Base Metals, and Coal segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and other ferrous products; and provides related logistic services.

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