Vale (NYSE:VALE) Price Target Raised to $13.00

Vale (NYSE:VALE) had its price objective upped by Barclays from $12.75 to $13.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the basic materials company’s stock.

Other equities research analysts also recently issued reports about the company. CICC Research initiated coverage on Vale in a report on Monday, May 12th. They set an “outperform” rating and a $11.30 target price on the stock. Bank of America upgraded Vale from a “neutral” rating to a “buy” rating and raised their target price for the company from $11.00 to $11.50 in a report on Thursday, April 10th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $11.00 target price (down from $12.00) on shares of Vale in a report on Thursday, April 17th. Wall Street Zen initiated coverage on Vale in a report on Wednesday, May 7th. They set a “hold” rating on the stock. Finally, UBS Group dropped their target price on Vale from $10.50 to $9.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Vale presently has a consensus rating of “Hold” and a consensus target price of $11.79.

Vale Stock Performance

NYSE VALE opened at $10.25 on Wednesday. The firm has a market capitalization of $46.52 billion, a P/E ratio of 7.43, a P/E/G ratio of 0.33 and a beta of 0.77. Vale has a 1-year low of $8.06 and a 1-year high of $12.05. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.11 and a quick ratio of 0.74. The business’s 50-day simple moving average is $9.53 and its 200-day simple moving average is $9.39.

Vale (NYSE:VALE) last released its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.02). The firm had revenue of $8.12 billion during the quarter, compared to analyst estimates of $8.39 billion. Vale had a net margin of 15.54% and a return on equity of 17.65%. Equities analysts predict that Vale will post 1.85 EPS for the current year.

Institutional Investors Weigh In On Vale

Hedge funds and other institutional investors have recently bought and sold shares of the business. IFP Advisors Inc increased its holdings in Vale by 206.4% during the 4th quarter. IFP Advisors Inc now owns 2,877 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 1,938 shares during the last quarter. Banque Transatlantique SA purchased a new stake in Vale during the 1st quarter worth approximately $30,000. Atlas Capital Advisors Inc. increased its holdings in Vale by 68.3% during the 4th quarter. Atlas Capital Advisors Inc. now owns 4,000 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 1,623 shares during the last quarter. J.Safra Asset Management Corp bought a new stake in shares of Vale in the 1st quarter valued at approximately $41,000. Finally, Golden State Wealth Management LLC increased its holdings in shares of Vale by 193.0% in the 1st quarter. Golden State Wealth Management LLC now owns 4,119 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 2,713 shares during the last quarter. 21.85% of the stock is currently owned by hedge funds and other institutional investors.

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.