Vale (NYSE:VALE) Now Covered by Clarkson Capital

Key Points

• Clarkson Capital has initiated coverage of Vale (NYSE:VALE) with a "buy" rating and a price target of $12.00, suggesting a potential upside of 17.41% from its previous close.
• Vale's earnings exceeded expectations, reporting $0.50 earnings per share for the last quarter, surpassing the consensus estimate by $0.16.
• The average target price from analysts for Vale is currently $11.86, with six analysts recommending a "buy" and five suggesting a "hold."

Clarkson Capital started coverage on shares of Vale (NYSE:VALE - Get Free Report) in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The brokerage set a "buy" rating and a $12.00 price target on the basic materials company's stock. Clarkson Capital's target price indicates a potential upside of 17.41% from the stock's previous close.

Several other research analysts have also weighed in on the company. Scotiabank reduced their target price on Vale from $13.00 to $12.50 and set a "sector perform" rating on the stock in a report on Tuesday, July 22nd. UBS Group reiterated a "neutral" rating and set a $10.00 target price (up from $9.00) on shares of Vale in a report on Monday, August 4th. Barclays lifted their target price on Vale from $12.75 to $13.00 and gave the stock an "overweight" rating in a report on Wednesday, July 2nd. Wall Street Zen began coverage on Vale in a report on Wednesday, May 7th. They issued a "hold" rating on the stock. Finally, CICC Research began coverage on Vale in a report on Monday, May 12th. They issued an "outperform" rating and a $11.30 price target on the stock. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Vale has an average rating of "Moderate Buy" and a consensus target price of $11.86.

Vale Stock Performance

VALE stock opened at $10.22 on Wednesday. The business's 50-day moving average price is $9.96 and its two-hundred day moving average price is $9.68. The company has a current ratio of 1.22, a quick ratio of 0.85 and a debt-to-equity ratio of 0.48. The firm has a market cap of $46.39 billion, a PE ratio of 8.31 and a beta of 0.79. Vale has a 1-year low of $8.06 and a 1-year high of $12.05.

Vale (NYSE:VALE - Get Free Report) last posted its earnings results on Thursday, July 31st. The basic materials company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.16. The firm had revenue of $8.80 billion for the quarter, compared to analyst estimates of $9.54 billion. Vale had a return on equity of 18.14% and a net margin of 14.23%. As a group, research analysts forecast that Vale will post 1.85 earnings per share for the current year.

Institutional Trading of Vale

A number of hedge funds and other institutional investors have recently modified their holdings of VALE. GQG Partners LLC acquired a new stake in shares of Vale in the first quarter valued at about $371,778,000. Invesco Ltd. increased its position in shares of Vale by 1,534.8% in the second quarter. Invesco Ltd. now owns 24,810,285 shares of the basic materials company's stock valued at $240,908,000 after acquiring an additional 23,292,629 shares during the last quarter. Orbis Allan Gray Ltd increased its position in shares of Vale by 165.9% in the first quarter. Orbis Allan Gray Ltd now owns 31,257,989 shares of the basic materials company's stock valued at $311,955,000 after acquiring an additional 19,500,437 shares during the last quarter. Lazard Asset Management LLC increased its position in Vale by 49.3% during the fourth quarter. Lazard Asset Management LLC now owns 18,238,313 shares of the basic materials company's stock worth $161,773,000 after buying an additional 6,023,144 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in Vale by 31.8% during the second quarter. Fisher Asset Management LLC now owns 21,705,260 shares of the basic materials company's stock worth $210,758,000 after buying an additional 5,234,201 shares during the last quarter. Institutional investors and hedge funds own 21.85% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.