Vale (NYSE:VALE) Stock Gets Price Target Cut from UBS Group

by · The Markets Daily

Vale (NYSE:VALE – Free Report) had its target price decreased by UBS Group from $15.00 to $14.50 in a research note issued to investors on Wednesday morning,Benzinga reports. UBS Group currently has a neutral rating on the basic materials company’s stock.

Other analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft set a $15.00 price objective on Vale in a research report on Friday, October 16th. Wells Fargo & Company reduced their target price on Vale from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Thursday, July 9th. Scotiabank raised Vale from a “sector perform” rating to a “sector outperform” rating and set a $16.00 target price for the company in a research report on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Vale in a research note on Friday, October 2nd. Finally, Freedom Broker cut Vale from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 3rd. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Vale presently has an average rating of “Hold” and an average price target of $15.71.

Read Our Latest Stock Analysis on VALE

Vale Trading Up 1.5%

Shares of VALE opened at $12.38 on Wednesday. The firm’s 50-day moving average price is $14.13 and its 200-day moving average price is $15.14. The firm has a market capitalization of $56.22 billion, a price-to-earnings ratio of 25.28 and a beta of 0.42. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.45. Vale has a 1-year low of $11.40 and a 1-year high of $17.94.

Vale (NYSE:VALE – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.10). Vale had a return on equity of 19.87% and a net margin of 5.11%. The company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.47 billion. Sell-side analysts anticipate that Vale will post 1.65 EPS for the current year.

Vale Announces Dividend

The firm also recently declared a special dividend, which was paid on Thursday, September 10th. Investors of record on Thursday, August 13th were paid a $0.3088 dividend. The ex-dividend date was Thursday, August 13th. Vale’s dividend payout ratio (DPR) is presently 89.80%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. boosted its holdings in Vale by 15,202.2% in the first quarter. Assenagon Asset Management S.A. now owns 15,663,641 shares of the basic materials company’s stock worth $249,209,000 after acquiring an additional 15,561,279 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Vale by 119.9% in the first quarter. Bank of America Corp DE now owns 21,837,416 shares of the basic materials company’s stock worth $347,433,000 after acquiring an additional 11,905,247 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of Vale in the first quarter worth $128,239,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Vale by 15.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 47,947,703 shares of the basic materials company’s stock worth $762,848,000 after acquiring an additional 6,351,703 shares during the last quarter. Finally, SPX Gestao de Recursos Ltda increased its holdings in shares of Vale by 1,302.4% during the first quarter. SPX Gestao de Recursos Ltda now owns 5,539,608 shares of the basic materials company’s stock valued at $88,135,000 after acquiring an additional 5,144,590 shares in the last quarter. 21.85% of the stock is owned by hedge funds and other institutional investors.

Vale Company Profile

(Get Free Report)

Vale SA is a Brazil-based global mining and logistics company best known for producing iron ore and iron ore pellets, key raw materials used in steelmaking. The company also produces nickel, copper, manganese ore, coal and other mineral products, with operations spanning exploration, extraction, processing and transportation.

Vale operates an extensive logistics network that includes railways, ports and maritime transportation systems, primarily supporting the movement of minerals from its production sites to domestic and international customers.

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