Scotiabank Cuts Vale (NYSE:VALE) Price Target to $14.00

Vale (NYSE:VALE) had its price objective trimmed by Scotiabank from $16.00 to $14.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has a sector perform rating on the basic materials company’s stock.

A number of other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. decreased their price target on Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a report on Monday, September 23rd. UBS Group downgraded Vale from a “buy” rating to a “neutral” rating and decreased their target price for the company from $14.00 to $11.50 in a research note on Monday, November 11th. StockNews.com initiated coverage on Vale in a research note on Friday, October 18th. They issued a “buy” rating for the company. Morgan Stanley cut their price objective on shares of Vale from $16.00 to $15.50 and set an “overweight” rating for the company in a report on Thursday, September 19th. Finally, Wolfe Research downgraded shares of Vale from a “peer perform” rating to an “underperform” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $15.13.

Vale Stock Up 0.5 %

VALE stock opened at $10.01 on Wednesday. The business’s 50-day moving average price is $10.76 and its 200-day moving average price is $11.04. The stock has a market cap of $44.88 billion, a P/E ratio of 4.63, a PEG ratio of 0.27 and a beta of 0.94. The company has a quick ratio of 0.58, a current ratio of 0.91 and a debt-to-equity ratio of 0.39. Vale has a twelve month low of $9.66 and a twelve month high of $16.08.

Vale (NYSE:VALE) last released its earnings results on Thursday, October 24th. The basic materials company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. The company had revenue of $9.55 billion for the quarter, compared to analysts’ expectations of $9.61 billion. Vale had a net margin of 22.59% and a return on equity of 21.07%. During the same quarter last year, the business earned $0.66 EPS. On average, equities research analysts forecast that Vale will post 2.12 EPS for the current year.

Institutional Investors Weigh In On Vale

Institutional investors and hedge funds have recently modified their holdings of the business. Pacifica Partners Inc. purchased a new stake in Vale in the second quarter worth $27,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Vale in the third quarter worth about $28,000. Point72 Hong Kong Ltd purchased a new position in Vale in the 3rd quarter worth about $36,000. Lowe Wealth Advisors LLC bought a new stake in Vale during the 2nd quarter valued at about $45,000. Finally, Vienna Asset Management LLC purchased a new stake in Vale in the 3rd quarter valued at about $117,000. 21.85% of the stock is owned by institutional investors.

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.