Vale (NYSE:VALE) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Vale (NYSE:VALE) in a report released on Tuesday. The brokerage set a “hold” rating on the basic materials company’s stock.

Several other research firms also recently weighed in on VALE. Morgan Stanley downgraded Vale from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $14.50 to $11.30 in a research report on Thursday, December 12th. Scotiabank reduced their price objective on shares of Vale from $14.00 to $13.00 and set a “sector perform” rating on the stock in a research note on Monday, January 6th. Jefferies Financial Group reduced their price target on shares of Vale from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Wolfe Research upgraded Vale from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Finally, Barclays cut their target price on shares of Vale from $16.00 to $15.25 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $13.26.

Vale Stock Performance

NYSE:VALE opened at $10.14 on Tuesday. The firm’s fifty day simple moving average is $9.56 and its 200-day simple moving average is $9.89. The company has a quick ratio of 0.58, a current ratio of 0.91 and a debt-to-equity ratio of 0.39. The stock has a market cap of $46.03 billion, a PE ratio of 7.04, a price-to-earnings-growth ratio of 0.31 and a beta of 0.85. Vale has a fifty-two week low of $8.38 and a fifty-two week high of $13.14.

Vale (NYSE:VALE) last issued its earnings results on Wednesday, February 19th. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.36). The company had revenue of $10.12 billion during the quarter, compared to analysts’ expectations of $10.03 billion. Vale had a net margin of 16.15% and a return on equity of 17.38%. Analysts expect that Vale will post 1.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vale

Several institutional investors and hedge funds have recently bought and sold shares of VALE. Brooklyn Investment Group increased its stake in Vale by 215.9% in the 4th quarter. Brooklyn Investment Group now owns 2,780 shares of the basic materials company’s stock valued at $25,000 after buying an additional 1,900 shares during the period. IFP Advisors Inc grew its holdings in shares of Vale by 206.4% during the 4th quarter. IFP Advisors Inc now owns 2,877 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 1,938 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Vale in the third quarter worth $28,000. Cornerstone Planning Group LLC raised its holdings in shares of Vale by 3,092.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 3,192 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 3,092 shares in the last quarter. Finally, Stonebridge Financial Group LLC acquired a new stake in Vale during the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 21.85% of the company’s stock.

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.