Vale (NYSE:VALE) Coverage Initiated at CICC Research

Equities research analysts at CICC Research initiated coverage on shares of Vale (NYSE:VALE - Get Free Report) in a research note issued on Monday,Benzinga reports. The firm set an "outperform" rating and a $11.30 price target on the basic materials company's stock. CICC Research's price objective points to a potential upside of 18.26% from the company's previous close.

VALE has been the subject of a number of other research reports. StockNews.com assumed coverage on Vale in a research report on Wednesday, May 7th. They set a "hold" rating for the company. UBS Group dropped their price target on shares of Vale from $10.50 to $9.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Bank of America upgraded shares of Vale from a "neutral" rating to a "buy" rating and raised their price objective for the company from $11.00 to $11.50 in a research note on Thursday, April 10th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $11.00 price target (down from $12.00) on shares of Vale in a research note on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $12.04.

Vale Trading Up 2.1%

Shares of NYSE:VALE traded up $0.20 during trading on Monday, reaching $9.56. The stock had a trading volume of 17,196,528 shares, compared to its average volume of 30,594,893. Vale has a fifty-two week low of $8.06 and a fifty-two week high of $13.14. The business has a fifty day moving average price of $9.49 and a 200-day moving average price of $9.52. The stock has a market cap of $43.37 billion, a P/E ratio of 6.64, a PEG ratio of 0.31 and a beta of 0.83. 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 (NYSE:VALE - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.02). Vale had a net margin of 16.15% and a return on equity of 17.38%. The firm had revenue of $8.12 billion for the quarter, compared to analyst estimates of $8.39 billion. As a group, analysts anticipate that Vale will post 1.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vale

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in shares of Vale by 5.1% in the first quarter. Blue Trust Inc. now owns 25,876 shares of the basic materials company's stock valued at $258,000 after buying an additional 1,248 shares during the last quarter. Snowden Capital Advisors LLC lifted its holdings in Vale by 5.9% during the 4th quarter. Snowden Capital Advisors LLC now owns 24,181 shares of the basic materials company's stock worth $214,000 after buying an additional 1,349 shares in the last quarter. Atlas Capital Advisors Inc. increased its position in Vale by 68.3% in the fourth quarter. Atlas Capital Advisors Inc. now owns 4,000 shares of the basic materials company's stock worth $35,000 after purchasing an additional 1,623 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Vale by 10.9% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 17,278 shares of the basic materials company's stock worth $172,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Ameritas Advisory Services LLC increased its holdings in Vale by 14.4% in the first quarter. Ameritas Advisory Services LLC now owns 13,951 shares of the basic materials company's stock valued at $130,000 after purchasing an additional 1,757 shares during the last quarter. 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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