Vale (VALE) Price Target Cut to $9.00 by Analysts at Royal Bank of Canada

Vale (NYSE:VALE) had its price target decreased by analysts at Royal Bank of Canada to $9.00 in a research report issued to clients and investors on Monday, February 4th, The Fly reports. The firm presently has an “underperform” rating on the basic materials company’s stock. Royal Bank of Canada’s price objective points to a potential downside of 27.36% from the company’s current price.

A number of other research analysts have also recently weighed in on VALE. Zacks Investment Research raised shares of Vale from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Monday, October 15th. Citigroup cut shares of Vale from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a research note on Monday, October 29th. UBS Group raised shares of Vale from a “sell” rating to a “neutral” rating in a research note on Wednesday, October 31st. ValuEngine cut shares of Vale from a “buy” rating to a “hold” rating in a research note on Friday, November 23rd. Finally, Barclays set a $16.00 target price on shares of Vale and gave the stock a “buy” rating in a research note on Saturday, December 8th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $13.90.

Shares of VALE traded down $0.09 during mid-day trading on Monday, reaching $12.39. 37,610,467 shares of the company’s stock were exchanged, compared to its average volume of 55,235,372. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.65 and a quick ratio of 1.21. Vale has a 52-week low of $10.89 and a 52-week high of $16.13. The stock has a market cap of $65.22 billion, a price-to-earnings ratio of 9.18 and a beta of 1.14.

Hedge funds have recently modified their holdings of the business. Cookson Peirce & Co. Inc. lifted its holdings in Vale by 0.9% in the 3rd quarter. Cookson Peirce & Co. Inc. now owns 1,143,370 shares of the basic materials company’s stock worth $16,968,000 after buying an additional 9,900 shares in the last quarter. Hartree Partners LP bought a new stake in shares of Vale in the 3rd quarter worth about $4,526,000. SG Americas Securities LLC increased its position in shares of Vale by 2,582.3% in the 4th quarter. SG Americas Securities LLC now owns 672,370 shares of the basic materials company’s stock worth $8,869,000 after purchasing an additional 647,303 shares during the last quarter. SPX Equities Gestao de Recursos Ltda increased its position in shares of Vale by 84.2% in the 4th quarter. SPX Equities Gestao de Recursos Ltda now owns 295,660 shares of the basic materials company’s stock worth $3,900,000 after purchasing an additional 135,172 shares during the last quarter. Finally, Putnam Investments LLC increased its position in shares of Vale by 375.2% in the 3rd quarter. Putnam Investments LLC now owns 561,250 shares of the basic materials company’s stock worth $8,328,000 after purchasing an additional 443,150 shares during the last quarter. Hedge funds and other institutional investors own 19.62% of the company’s stock.

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. It operates through Ferrous Minerals, Coal, and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and others ferrous products and services, as well as engages in the provision of related railroad, port, and terminal logistics services.

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