Vale (NYSE:VALE) Price Target Cut to $13.00 by Analysts at Scotiabank

Vale (NYSE:VALE) had its price target cut by Scotiabank from $14.00 to $13.00 in a research note published on Monday morning,Benzinga reports. They currently have a sector perform rating on the basic materials company’s stock.

Several other brokerages have also issued reports on VALE. Wolfe Research lowered Vale from a “peer perform” rating to an “underperform” rating in a research note on Wednesday, October 9th. Jefferies Financial Group cut their target price on shares of Vale from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday. UBS Group cut shares of Vale from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $14.00 to $11.50 in a research report on Monday, November 11th. Barclays cut their price objective on shares of Vale from $16.00 to $15.25 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Finally, StockNews.com started coverage on shares of Vale in a report on Friday, December 13th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.89.

Vale Stock Performance

Shares of NYSE:VALE opened at $8.62 on Monday. The business has a fifty day moving average of $9.70 and a 200-day moving average of $10.42. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.58 and a current ratio of 0.91. Vale has a twelve month low of $8.60 and a twelve month high of $15.30. The firm has a market cap of $38.64 billion, a PE ratio of 3.99, a price-to-earnings-growth ratio of 0.27 and a beta of 0.92.

Vale (NYSE:VALE) last released 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 business had revenue of $9.55 billion for the quarter, compared to analysts’ expectations of $9.61 billion. During the same period in the prior year, the firm earned $0.66 earnings per share. On average, equities research analysts predict that Vale will post 2.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in shares of Vale by 18.2% during the 3rd quarter. FMR LLC now owns 36,605,338 shares of the basic materials company’s stock valued at $427,550,000 after purchasing an additional 5,635,167 shares in the last quarter. SPX Gestao de Recursos Ltda lifted its stake in Vale by 60.6% in the second quarter. SPX Gestao de Recursos Ltda now owns 21,969,937 shares of the basic materials company’s stock valued at $245,404,000 after buying an additional 8,288,112 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Vale by 3,692.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 18,200,000 shares of the basic materials company’s stock valued at $212,576,000 after buying an additional 17,720,100 shares during the period. Fisher Asset Management LLC increased its position in shares of Vale by 10.7% during the third quarter. Fisher Asset Management LLC now owns 17,404,942 shares of the basic materials company’s stock worth $203,290,000 after acquiring an additional 1,682,544 shares in the last quarter. Finally, Itau Unibanco Holding S.A. raised its holdings in shares of Vale by 123.4% during the third quarter. Itau Unibanco Holding S.A. now owns 12,059,814 shares of the basic materials company’s stock worth $140,859,000 after acquiring an additional 6,660,933 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.