Vale (NYSE:VALE) Reaches New 12-Month Low – What’s Next?

Shares of Vale S.A. (NYSE:VALE) reached a new 52-week low on Friday . The stock traded as low as $9.42 and last traded at $9.43, with a volume of 3802351 shares changing hands. The stock had previously closed at $9.61.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on VALE shares. Morgan Stanley cut their target price on Vale from $16.00 to $15.50 and set an “overweight” rating for the company in a research report on Thursday, September 19th. JPMorgan Chase & Co. lowered their target price on shares of Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a report on Monday, September 23rd. Wolfe Research downgraded shares of Vale from a “peer perform” rating to an “underperform” rating in a report on Wednesday, October 9th. Barclays decreased their price objective on shares of Vale from $16.00 to $15.25 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Scotiabank cut their target price on shares of Vale from $16.00 to $14.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $14.91.

Vale Stock Down 2.0 %

The stock has a market cap of $42.23 billion, a P/E ratio of 4.46, a PEG ratio of 0.26 and a beta of 0.91. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.58 and a current ratio of 0.91. The firm’s 50-day moving average is $10.57 and its two-hundred day moving average is $10.86.

Vale (NYSE:VALE) last released its earnings results on Thursday, October 24th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. Vale had a net margin of 22.59% and a return on equity of 21.07%. The company had revenue of $9.55 billion for the quarter, compared to the consensus estimate of $9.61 billion. During the same period in the prior year, the company posted $0.66 EPS. On average, equities research analysts anticipate that Vale S.A. will post 2.13 earnings per share for the current year.

Institutional Investors Weigh In On Vale

A number of institutional investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Vale by 6.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,951,020 shares of the basic materials company’s stock worth $92,868,000 after buying an additional 468,432 shares during the period. Bridgewater Associates LP increased its stake in Vale by 723.2% in the third quarter. Bridgewater Associates LP now owns 2,035,477 shares of the basic materials company’s stock valued at $23,774,000 after purchasing an additional 1,788,205 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Vale by 1,680.0% in the third quarter. International Assets Investment Management LLC now owns 242,514 shares of the basic materials company’s stock worth $2,833,000 after purchasing an additional 228,890 shares during the period. Banco Santander S.A. boosted its position in shares of Vale by 32.9% during the third quarter. Banco Santander S.A. now owns 382,082 shares of the basic materials company’s stock worth $4,463,000 after purchasing an additional 94,585 shares in the last quarter. Finally, Cetera Advisors LLC grew its holdings in shares of Vale by 109.1% in the 1st quarter. Cetera Advisors LLC now owns 101,406 shares of the basic materials company’s stock valued at $1,236,000 after buying an additional 52,906 shares during the period. 21.85% of the stock is 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.