Scotiabank Issues Pessimistic Forecast for Vale (NYSE:VALE) Stock Price

Vale (NYSE:VALE - Free Report) had its price objective lowered by Scotiabank from $14.00 to $13.00 in a report released on Monday,Benzinga reports. The firm currently has a sector perform rating on the basic materials company's stock.

Several other equities analysts have also issued reports on VALE. Wolfe Research lowered shares of Vale from a "peer perform" rating to an "underperform" rating in a report on Wednesday, October 9th. UBS Group lowered Vale from a "buy" rating to a "neutral" rating and cut their target price for the company from $14.00 to $11.50 in a research report on Monday, November 11th. JPMorgan Chase & Co. lowered their target price on Vale from $16.50 to $15.00 and set an "overweight" rating for the company in a report on Monday, September 23rd. Morgan Stanley cut Vale from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $14.50 to $11.30 in a report on Thursday, December 12th. Finally, Barclays reduced their price objective on shares of Vale from $16.00 to $15.25 and set an "overweight" rating for the company in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $13.89.

Vale Trading Down 0.1 %

VALE traded down $0.01 during midday trading on Monday, hitting $8.62. 21,623,043 shares of the company were exchanged, compared to its average volume of 23,372,344. The firm has a market capitalization of $38.64 billion, a P/E ratio of 3.99, a P/E/G ratio of 0.27 and a beta of 0.92. The firm's 50 day moving average price is $9.70 and its 200-day moving average price is $10.42. The company has a quick ratio of 0.58, a current ratio of 0.91 and a debt-to-equity ratio of 0.39. Vale has a 1-year low of $8.60 and a 1-year high of $15.30.

Vale (NYSE:VALE - Get Free Report) last announced its earnings results on Thursday, October 24th. The basic materials company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.41 by $0.15. Vale had a return on equity of 21.07% and a net margin of 22.59%. The business had revenue of $9.55 billion for the quarter, compared to analysts' expectations of $9.61 billion. During the same period in the prior year, the business posted $0.66 earnings per share. As a group, equities analysts forecast that Vale will post 2.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Vale

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Vale in the 3rd quarter valued at $28,000. Point72 Hong Kong Ltd purchased a new stake in shares of Vale in the third quarter valued at about $36,000. Wilmington Savings Fund Society FSB bought a new position in shares of Vale during the third quarter valued at about $79,000. Vienna Asset Management LLC purchased a new stake in Vale in the 3rd quarter valued at about $117,000. Finally, Phillips Wealth Planners LLC bought a new position in shares of Vale during the 3rd quarter worth approximately $118,000. 21.85% of the stock is owned by institutional investors.

Vale Company Profile

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.