ValuEngine upgraded shares of Vale (NYSE:VALE) from a sell rating to a hold rating in a research report released on Monday, February 4th.
A number of other research firms have also recently weighed in on VALE. Zacks Investment Research raised Vale from a hold rating to a buy rating and set a $17.00 price objective for the company in a research report on Monday, October 15th. Citigroup cut Vale from a buy rating to a neutral rating and set a $16.00 price objective for the company. in a research report on Monday, October 29th. UBS Group raised Vale from a sell rating to a neutral rating in a research report on Wednesday, October 31st. Barclays set a $16.00 price target on Vale and gave the company a buy rating in a report on Saturday, December 8th. Finally, Macquarie raised Vale from a neutral rating to an outperform rating in a report on Tuesday, December 11th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $13.90.
Shares of VALE traded down $0.09 during mid-day trading on Monday, reaching $12.39. The company’s stock had a trading volume of 37,610,467 shares, compared to its average volume of 55,235,372. The company has a market cap of $65.22 billion, a P/E ratio of 9.18 and a beta of 1.14. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.21 and a current ratio of 1.65. Vale has a 12-month low of $10.89 and a 12-month high of $16.13.
Large investors have recently made changes to their positions in the company. Cookson Peirce & Co. Inc. grew its position in shares of Vale by 0.9% in the third quarter. Cookson Peirce & Co. Inc. now owns 1,143,370 shares of the basic materials company’s stock valued at $16,968,000 after purchasing an additional 9,900 shares during the period. Hartree Partners LP purchased a new stake in Vale during the third quarter valued at about $4,526,000. SG Americas Securities LLC grew its position in Vale by 2,582.3% during the fourth quarter. SG Americas Securities LLC now owns 672,370 shares of the basic materials company’s stock valued at $8,869,000 after acquiring an additional 647,303 shares during the period. SPX Equities Gestao de Recursos Ltda grew its position in Vale by 84.2% during the fourth quarter. SPX Equities Gestao de Recursos Ltda now owns 295,660 shares of the basic materials company’s stock valued at $3,900,000 after acquiring an additional 135,172 shares during the period. Finally, Putnam Investments LLC grew its position in Vale by 375.2% during the third quarter. Putnam Investments LLC now owns 561,250 shares of the basic materials company’s stock valued at $8,328,000 after acquiring an additional 443,150 shares during the period. 19.62% of the stock is owned by institutional investors and hedge funds.
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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