Vale (NYSE:VALE) Upgraded by Zacks Research to "Hold" Rating

Key Points

• Zacks Research has upgraded Vale from a "strong sell" to a "hold" rating, reflecting improved analyst sentiment.
• Barclays and Scotiabank are among analysts who have also increased their price targets for Vale, with Scotiabank setting a target of $14.00.
• Vale is currently trading around $11.03 with a twelve-month high of $11.33 and a strong earnings report indicating a $0.50 EPS.

Vale (NYSE:VALE - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other analysts have also commented on VALE. Barclays upped their price objective on shares of Vale from $13.50 to $13.70 and gave the company an "overweight" rating in a research note on Thursday, September 18th. Wells Fargo & Company raised shares of Vale to a "hold" rating in a research note on Wednesday. Clarkson Capital began coverage on shares of Vale in a research note on Wednesday, September 3rd. They set a "buy" rating and a $12.00 price objective for the company. UBS Group upped their price objective on shares of Vale from $10.00 to $11.00 and gave the company a "neutral" rating in a research note on Monday. Finally, Scotiabank raised shares of Vale from a "sector perform" rating to a "sector outperform" rating and set a $14.00 price objective for the company in a research note on Thursday, September 18th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $11.95.

Vale Stock Performance

NYSE:VALE opened at $11.03 on Wednesday. Vale has a twelve month low of $8.06 and a twelve month high of $11.33. 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 company has a 50-day moving average of $10.44 and a 200-day moving average of $9.87. The firm has a market cap of $50.07 billion, a price-to-earnings ratio of 8.97 and a beta of 0.80.

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

Institutional Trading of Vale

Hedge funds have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. purchased a new stake in shares of Vale in the first quarter worth approximately $228,000. Golden State Wealth Management LLC lifted its position in shares of Vale by 193.0% in the first quarter. Golden State Wealth Management LLC now owns 4,119 shares of the basic materials company's stock worth $41,000 after purchasing an additional 2,713 shares in the last quarter. Cornerstone Wealth Management LLC raised its position in Vale by 20.4% during the first quarter. Cornerstone Wealth Management LLC now owns 15,954 shares of the basic materials company's stock valued at $159,000 after acquiring an additional 2,707 shares in the last quarter. Royal Bank of Canada raised its position in Vale by 37.8% during the first quarter. Royal Bank of Canada now owns 1,463,665 shares of the basic materials company's stock valued at $14,608,000 after acquiring an additional 401,614 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in Vale by 38.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 22,522 shares of the basic materials company's stock valued at $225,000 after acquiring an additional 6,261 shares in the last quarter. 21.85% of the stock is owned by hedge funds and other 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.

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