Vale (NYSE:VALE) Issues Earnings Results

Key Points

• Vale (NYSE:VALE) reported quarterly earnings of $0.50 per share, surpassing analysts' expectations of $0.34 by $0.16, despite revenue falling short at $8.80 billion compared to a forecast of $9.54 billion.
• The company's stock price increased by 1.8% to $9.70 during trading hours, with a market capitalization of $44.03 billion and a price-to-earnings ratio of 7.89.
• Investment analysts have mixed ratings on Vale, with a consensus rating of "Hold" and an average price target of $11.73, indicating some optimism about its future performance.

Vale (NYSE:VALE - Get Free Report) announced its quarterly earnings data on Thursday. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.16, Zacks reports. Vale had a return on equity of 18.58% and a net margin of 14.23%. The business had revenue of $8.80 billion during the quarter, compared to analysts' expectations of $9.54 billion.

Vale Trading Up 1.8%

NYSE:VALE traded up $0.17 during trading hours on Friday, reaching $9.70. 91,150,530 shares of the stock were exchanged, compared to its average volume of 49,288,176. The company has a quick ratio of 0.74, a current ratio of 1.11 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average of $9.68 and a two-hundred day moving average of $9.55. Vale has a twelve month low of $8.06 and a twelve month high of $12.05. The company has a market capitalization of $44.03 billion, a price-to-earnings ratio of 7.89, a PEG ratio of 0.32 and a beta of 0.74.

Analysts Set New Price Targets

A number of research firms recently commented on VALE. CICC Research began coverage on Vale in a research report on Monday, May 12th. They set an "outperform" rating and a $11.30 price objective for the company. Bank of America upgraded Vale from a "neutral" rating to a "buy" rating and upped their price objective for the company from $11.00 to $11.50 in a research report on Thursday, April 10th. Scotiabank cut their price target on Vale from $13.00 to $12.50 and set a "sector perform" rating for the company in a report on Tuesday, July 22nd. Barclays upped their price objective on Vale from $12.75 to $13.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 2nd. Finally, Royal Bank Of Canada reissued 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. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Vale currently has a consensus rating of "Hold" and an average price target of $11.73.

Institutional Trading of Vale

Several hedge funds have recently modified their holdings of the stock. Strs Ohio acquired a new stake in shares of Vale during the first quarter worth about $117,000. Empowered Funds LLC acquired a new stake in shares of Vale during the first quarter worth about $171,000. Jones Financial Companies Lllp lifted its position in Vale by 46.6% in the first quarter. Jones Financial Companies Lllp now owns 37,613 shares of the basic materials company's stock valued at $375,000 after purchasing an additional 11,964 shares during the period. Finally, NewEdge Advisors LLC lifted its position in Vale by 4.9% in the first quarter. NewEdge Advisors LLC now owns 79,400 shares of the basic materials company's stock valued at $792,000 after purchasing an additional 3,704 shares during the period. 21.85% of the stock is currently owned by institutional investors and hedge funds.

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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