Vale S.A., 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 Ferrous Minerals and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and other ferrous products; and provides related logistic services. The Base Metals segment produces and extracts nickel and its by-products, such as gold, silver, cobalt, precious metals, and others, as well as copper. The company was formerly known as Companhia Vale do Rio Doce and changed its name to Vale S.A. in May 2009. Vale S.A. was founded in 1942 and is headquartered in Rio de Janeiro, Brazil.
Vale Stock Down 1.4 %
NYSE:VALE opened at $13.41 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.32 and a debt-to-equity ratio of 0.40. Vale has a twelve month low of $11.16 and a twelve month high of $21.29. The stock's 50 day moving average price is $14.16 and its two-hundred day moving average price is $16.63. The firm has a market capitalization of $67.04 billion, a price-to-earnings ratio of 3.29, a price-to-earnings-growth ratio of 1.14 and a beta of 0.93.
Vale Cuts Dividend
The company also recently declared a semi-annual dividend, which will be paid on Friday, September 9th. Investors of record on Monday, August 15th will be paid a $0.3907 dividend. The ex-dividend date of this dividend is Friday, August 12th. This represents a yield of 21.9%. Vale's dividend payout ratio (DPR) is presently 19.12%.
Analyst Ratings Changes
A number of brokerages have weighed in on VALE. Jefferies Financial Group raised shares of Vale from a "hold" rating to a "buy" rating and upped their price target for the company from $17.00 to $24.00 in a report on Tuesday, June 7th. BNP Paribas cut Vale from an "outperform" rating to a "neutral" rating and set a $16.00 price objective for the company. in a research report on Wednesday, July 13th. Royal Bank of Canada cut their target price on Vale from $20.00 to $18.00 and set a "sector perform" rating for the company in a research note on Monday, April 25th. Morgan Stanley restated an "equal weight" rating on shares of Vale in a research note on Thursday, June 23rd. Finally, Exane BNP Paribas lowered Vale from an "outperform" rating to a "neutral" rating and set a $16.00 price objective for the company. in a research note on Wednesday, July 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Vale has a consensus rating of "Hold" and an average price target of $17.65.