Scotiabank Comments on Vale’s FY2024 Earnings (NYSE:VALE)

Vale S.A. (NYSE:VALE) – Stock analysts at Scotiabank decreased their FY2024 EPS estimates for Vale in a report released on Wednesday, January 8th. Scotiabank analyst A. Salazar now expects that the basic materials company will post earnings per share of $1.66 for the year, down from their previous forecast of $2.26. Scotiabank currently has a “Sector Perform” rating and a $13.00 target price on the stock. The consensus estimate for Vale’s current full-year earnings is $2.08 per share. Scotiabank also issued estimates for Vale’s FY2026 earnings at $2.53 EPS.

A number of other equities analysts have also recently commented on the stock. UBS Group cut shares of Vale from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $14.00 to $11.50 in a research report on Monday, November 11th. Morgan Stanley cut Vale from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $14.50 to $11.30 in a report on Thursday, December 12th. Wolfe Research upgraded Vale from an “underperform” rating to a “peer perform” rating in a research report on Wednesday. StockNews.com assumed coverage on Vale in a research report on Friday, December 13th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. lowered their price target on shares of Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a report on Monday, September 23rd. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $13.89.

Vale Price Performance

Shares of NYSE:VALE opened at $8.51 on Friday. Vale has a one year low of $8.42 and a one year high of $15.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.91 and a quick ratio of 0.58. The firm has a market capitalization of $38.15 billion, a price-to-earnings ratio of 3.94, a PEG ratio of 0.27 and a beta of 0.92. The company’s fifty day moving average price is $9.52 and its 200-day moving average price is $10.36.

Vale (NYSE:VALE) last announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.41 by $0.15. Vale had a net margin of 22.59% and a return on equity of 21.07%. The firm had revenue of $9.55 billion during the quarter, compared to the consensus estimate of $9.61 billion. During the same period last year, the firm earned $0.66 EPS.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Ballentine Partners LLC increased its holdings in shares of Vale by 7.8% in the 3rd quarter. Ballentine Partners LLC now owns 13,627 shares of the basic materials company’s stock worth $159,000 after buying an additional 987 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Vale by 1.9% in the second quarter. Bank of New York Mellon Corp now owns 62,076 shares of the basic materials company’s stock worth $693,000 after purchasing an additional 1,187 shares during the period. Pinnacle Associates Ltd. lifted its position in shares of Vale by 5.0% during the third quarter. Pinnacle Associates Ltd. now owns 28,754 shares of the basic materials company’s stock worth $336,000 after purchasing an additional 1,375 shares during the last quarter. Keynote Financial Services LLC boosted its stake in shares of Vale by 13.5% during the third quarter. Keynote Financial Services LLC now owns 11,737 shares of the basic materials company’s stock valued at $137,000 after purchasing an additional 1,400 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Vale by 1.0% in the third quarter. Principal Financial Group Inc. now owns 158,561 shares of the basic materials company’s stock worth $1,852,000 after purchasing an additional 1,494 shares during the last quarter. 21.85% of the stock is 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.