Brokerages Set Vale S.A. (NYSE:VALE) Target Price at $11.79

Vale S.A. (NYSE:VALE - Get Free Report) has been assigned an average rating of "Moderate Buy" from the ten analysts that are presently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $11.79.

Several equities analysts recently commented on the stock. UBS Group decreased their price objective on shares of Vale from $10.50 to $9.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Bank of America raised shares of Vale from a "neutral" rating to a "buy" rating and increased their price objective for the company from $11.00 to $11.50 in a research report on Thursday, April 10th. Wall Street Zen assumed coverage on shares of Vale in a research report on Wednesday, May 7th. They issued a "hold" rating for the company. Barclays increased their price objective on shares of Vale from $12.75 to $13.00 and gave the company an "overweight" rating in a research report on Wednesday, July 2nd. Finally, CICC Research assumed coverage on shares of Vale in a research report on Monday, May 12th. They issued an "outperform" rating and a $11.30 price objective for the company.

Vale Stock Down 2.1%

Shares of VALE stock traded down $0.22 during mid-day trading on Monday, hitting $9.93. 28,247,865 shares of the stock traded hands, compared to its average volume of 36,282,289. The stock has a market cap of $45.05 billion, a P/E ratio of 7.19, a P/E/G ratio of 0.33 and a beta of 0.77. The stock's fifty day moving average is $9.58 and its two-hundred day moving average is $9.44. Vale has a 52-week low of $8.06 and a 52-week high of $12.05. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.11 and a quick ratio of 0.74.

Vale (NYSE:VALE - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.02). The firm had revenue of $8.12 billion for the quarter, compared to analysts' expectations of $8.39 billion. Vale had a net margin of 15.54% and a return on equity of 17.65%. Equities analysts predict that Vale will post 1.85 EPS for the current year.

Hedge Funds Weigh In On Vale

A number of institutional investors have recently bought and sold shares of VALE. GQG Partners LLC acquired a new stake in shares of Vale during the 1st quarter worth approximately $371,778,000. Orbis Allan Gray Ltd grew its stake in shares of Vale by 165.9% during the 1st quarter. Orbis Allan Gray Ltd now owns 31,257,989 shares of the basic materials company's stock worth $311,955,000 after purchasing an additional 19,500,437 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Vale by 328.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 17,349,581 shares of the basic materials company's stock worth $153,891,000 after purchasing an additional 13,298,912 shares during the period. FMR LLC grew its stake in shares of Vale by 28.8% during the 4th quarter. FMR LLC now owns 47,163,226 shares of the basic materials company's stock worth $418,338,000 after purchasing an additional 10,557,888 shares during the period. Finally, Lazard Asset Management LLC grew its stake in shares of Vale by 49.3% during the 4th quarter. Lazard Asset Management LLC now owns 18,238,313 shares of the basic materials company's stock worth $161,773,000 after purchasing an additional 6,023,144 shares during the period. 21.85% of the stock is owned by hedge funds and other 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.