Vale (NYSE:VALE) Given New $18.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan raised its price target on Vale to $18.00 (from $17.50) and maintains an overweight rating, implying about a 19.55% upside from the prior close.
• Analyst consensus on Vale is a Moderate Buy with an average target of $14.87; analyst breakdown: 1 Strong Buy, 6 Buy, 6 Hold and 1 Sell.
• Vale reported a quarterly EPS miss (−$0.90 vs. $0.52 consensus) with $11.06B in revenue; shares trade near $15.06 with a $68.34B market cap and a 52‑week range of $8.06–$17.72.

Vale (NYSE:VALE - Get Free Report) had its target price hoisted by stock analysts at JPMorgan Chase & Co. from $17.50 to $18.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the basic materials company's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 19.55% from the company's previous close.

VALE has been the topic of a number of other research reports. Bank of America cut Vale from a "buy" rating to a "neutral" rating and lifted their target price for the company from $17.00 to $18.00 in a research report on Thursday, February 26th. Barclays increased their target price on shares of Vale from $15.50 to $16.50 and gave the stock an "overweight" rating in a report on Monday, March 2nd. Scotiabank reaffirmed a "sector perform" rating and set a $16.50 price target on shares of Vale in a report on Monday, February 9th. Wells Fargo & Company reiterated a "cautious" rating and set a $15.50 price objective on shares of Vale in a research report on Monday, February 16th. Finally, Wall Street Zen downgraded shares of Vale from a "buy" rating to a "hold" rating in a research note on Saturday, February 21st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Vale has a consensus rating of "Moderate Buy" and an average target price of $14.87.

Vale Trading Up 1.3%

VALE opened at $15.06 on Thursday. The firm's 50 day moving average is $15.93 and its 200-day moving average is $13.44. The company has a quick ratio of 0.78, a current ratio of 1.15 and a debt-to-equity ratio of 0.53. Vale has a 52-week low of $8.06 and a 52-week high of $17.72. The firm has a market capitalization of $68.34 billion, a P/E ratio of 26.89 and a beta of 0.52.

Vale (NYSE:VALE - Get Free Report) last issued its quarterly earnings results on Thursday, February 12th. The basic materials company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($1.42). Vale had a net margin of 6.12% and a return on equity of 20.16%. The business had revenue of $11.06 billion during the quarter, compared to the consensus estimate of $10.86 billion. Analysts expect that Vale will post 1.85 EPS for the current fiscal year.

Institutional Trading of Vale

A number of hedge funds have recently made changes to their positions in VALE. N.E.W. Advisory Services LLC acquired a new position in shares of Vale in the fourth quarter valued at approximately $26,000. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna boosted its position in 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 during the period. Bruce G. Allen Investments LLC bought a new stake in Vale during the 4th quarter worth approximately $33,000. Cary Street Partners Investment Advisory LLC increased its position in 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 valued at $30,000 after acquiring an additional 1,030 shares during the period. Finally, Cornerstone Planning Group LLC increased its position in Vale by 15,360.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 3,092 shares of the basic materials company's stock valued at $40,000 after acquiring an additional 3,072 shares during the period. 21.85% of the stock is owned by institutional investors and hedge funds.

Vale Company Profile

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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