Vale S.A. (NYSE:VALE) has been given a $11.00 price target by equities research analysts at Royal Bank Of Canada in a research note issued on Tuesday. The brokerage currently has a “hold” rating on the basic materials company’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 12.36% from the company’s previous close.
Other research analysts have also issued reports about the stock. Clarkson Capital reiterated a “neutral” rating on shares of Vale in a research note on Monday, July 10th. Cowen and Company reiterated a “hold” rating and set a $10.00 price target on shares of Vale in a research note on Friday, July 14th. BidaskClub lowered shares of Vale from a “buy” rating to a “hold” rating in a research note on Friday, September 22nd. Morgan Stanley reiterated an “equal weight” rating and set a $11.70 price target on shares of Vale in a research note on Monday, September 25th. Finally, Jefferies Group LLC reiterated a “hold” rating on shares of Vale in a research note on Tuesday, October 3rd. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $9.72.
Shares of Vale (NYSE:VALE) opened at 9.79 on Tuesday. The stock has a market capitalization of $50.45 billion, a price-to-earnings ratio of 14.13 and a beta of 1.51. The stock’s 50 day moving average is $10.58 and its 200 day moving average is $9.33. Vale has a 1-year low of $5.51 and a 1-year high of $11.72.
Vale (NYSE:VALE) last issued its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Vale had a net margin of 11.01% and a return on equity of 16.74%. The business had revenue of $7.24 billion for the quarter. On average, equities analysts forecast that Vale will post $1.20 EPS for the current year.
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Several hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC lifted its holdings in shares of Vale by 55.2% in the second quarter. Acadian Asset Management LLC now owns 10,948,983 shares of the basic materials company’s stock valued at $95,804,000 after purchasing an additional 3,892,825 shares in the last quarter. Balyasny Asset Management LLC purchased a new stake in shares of Vale in the second quarter valued at about $42,373,000. Trilogy Global Advisors LP purchased a new stake in shares of Vale in the second quarter valued at about $30,124,000. NINE MASTS CAPITAL Ltd lifted its holdings in shares of Vale by 201.4% in the second quarter. NINE MASTS CAPITAL Ltd now owns 2,415,425 shares of the basic materials company’s stock valued at $21,135,000 after purchasing an additional 1,613,942 shares in the last quarter. Finally, Employees Retirement System of Texas lifted its holdings in shares of Vale by 65.2% in the second quarter. Employees Retirement System of Texas now owns 1,969,933 shares of the basic materials company’s stock valued at $17,237,000 after purchasing an additional 777,525 shares in the last quarter. 9.57% of the stock is currently owned by institutional investors.
Vale SA is a global producer of iron ore and iron ore pellets, key raw materials for steelmaking, and producer of nickel. The Company also produces copper, metallurgical and thermal coal, potash, phosphates and other fertilizer nutrients, manganese ore, ferroalloys, platinum group metals, gold, silver and cobalt.
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