Vale (NYSE:VALE) PT Lowered to $16.50

Vale (NYSE:VALE) had its price objective trimmed by JPMorgan Chase & Co. from $17.00 to $16.50 in a research report released on Wednesday morning, BenzingaRatingsTable reports. The firm currently has an overweight rating on the basic materials company’s stock.

Several other brokerages have also recently issued reports on VALE. Barclays set a $12.00 price objective on shares of Vale and gave the stock a buy rating in a research note on Friday, October 11th. Exane BNP Paribas upgraded shares of Vale from an underperform rating to a neutral rating in a report on Thursday, September 5th. Macquarie upgraded shares of Vale from a neutral rating to an outperform rating and set a $14.00 price target on the stock in a research report on Tuesday, September 10th. BNP Paribas raised Vale from an underperform rating to a neutral rating in a report on Thursday, September 5th. Finally, Scotiabank upgraded Vale from a sector perform rating to an outperform rating and increased their price objective for the company from $15.00 to $17.50 in a research report on Friday, November 22nd. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $13.81.

Shares of VALE stock opened at $12.39 on Wednesday. The stock has a 50-day simple moving average of $11.77 and a 200 day simple moving average of $12.12. The stock has a market capitalization of $63.54 billion, a P/E ratio of 6.70, a P/E/G ratio of 1.87 and a beta of 1.19. Vale has a fifty-two week low of $10.20 and a fifty-two week high of $15.45. The company has a quick ratio of 1.03, a current ratio of 1.38 and a debt-to-equity ratio of 0.35.

Vale (NYSE:VALE) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.19). Vale had a return on equity of 20.52% and a net margin of 9.79%. The business had revenue of $10.22 billion during the quarter, compared to the consensus estimate of $10.62 billion. On average, sell-side analysts anticipate that Vale will post 1.27 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Wetherby Asset Management Inc. increased its position in shares of Vale by 2.9% in the third quarter. Wetherby Asset Management Inc. now owns 38,466 shares of the basic materials company’s stock worth $443,000 after acquiring an additional 1,068 shares in the last quarter. GFS Advisors LLC boosted its stake in Vale by 8.1% in the 2nd quarter. GFS Advisors LLC now owns 15,545 shares of the basic materials company’s stock worth $209,000 after purchasing an additional 1,170 shares during the period. Parallel Advisors LLC grew its position in Vale by 62.5% during the 3rd quarter. Parallel Advisors LLC now owns 2,492 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 958 shares in the last quarter. SG Americas Securities LLC grew its position in Vale by 13.8% during the 3rd quarter. SG Americas Securities LLC now owns 478,143 shares of the basic materials company’s stock worth $5,499,000 after purchasing an additional 58,000 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its stake in Vale by 54.6% during the 2nd quarter. Allianz Asset Management GmbH now owns 576,038 shares of the basic materials company’s stock valued at $7,742,000 after purchasing an additional 203,479 shares during the period. Institutional investors own 18.08% 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. It operates through Ferrous Minerals, Coal, and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and others ferrous products and services; and provides related logistic services.

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Analyst Recommendations for Vale (NYSE:VALE)

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