Vale (NYSE:VALE) PT Lowered to $16.00 at Scotiabank

Vale (NYSE:VALE) had its price objective lowered by Scotiabank from $17.00 to $16.00 in a research note released on Tuesday, Benzinga reports. The firm currently has a sector perform rating on the basic materials company’s stock.

A number of other brokerages have also recently issued reports on VALE. Morgan Stanley reduced their price objective on Vale from $16.00 to $15.50 and set an “overweight” rating for the company in a report on Thursday, September 19th. Wolfe Research lowered Vale from a “peer perform” rating to an “underperform” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price objective on Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, September 23rd. BNP Paribas raised shares of Vale from an “underperform” rating to a “neutral” rating in a research report on Friday, June 21st. Finally, UBS Group lowered their price target on shares of Vale from $15.00 to $14.50 and set a “buy” rating on the stock in a research report on Friday, July 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.15.

Vale Trading Down 1.0 %

VALE stock opened at $10.63 on Tuesday. Vale has a one year low of $9.66 and a one year high of $16.08. The stock has a market cap of $47.66 billion, a price-to-earnings ratio of 5.87, a price-to-earnings-growth ratio of 0.30 and a beta of 0.93. The company has a fifty day moving average price of $10.72 and a two-hundred day moving average price of $11.35. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.08 and a quick ratio of 0.73.

Vale (NYSE:VALE) last announced its earnings results on Thursday, July 25th. The basic materials company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.38 by $0.05. Vale had a net margin of 23.07% and a return on equity of 22.23%. The business had revenue of $9.92 billion during the quarter, compared to the consensus estimate of $9.97 billion. Equities analysts anticipate that Vale will post 2.06 EPS for the current year.

Vale Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, September 11th. Shareholders of record on Monday, August 5th were issued a $0.3698 dividend. This is a positive change from Vale’s previous semi-annual dividend of $0.32. This represents a yield of 12.1%. The ex-dividend date of this dividend was Monday, August 5th. Vale’s dividend payout ratio (DPR) is currently 64.09%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Richardson Financial Services Inc. acquired a new stake in Vale in the fourth quarter valued at about $31,000. Wellington Management Group LLP boosted its stake in shares of Vale by 22.0% in the 4th quarter. Wellington Management Group LLP now owns 12,315,171 shares of the basic materials company’s stock valued at $195,319,000 after purchasing an additional 2,224,756 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in shares of Vale during the 4th quarter valued at approximately $174,000. HighPoint Advisor Group LLC acquired a new position in Vale during the 4th quarter worth approximately $567,000. Finally, Confluence Investment Management LLC bought a new position in Vale in the 1st quarter valued at approximately $162,000. 21.85% of the stock is currently owned by institutional investors and hedge funds.

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.