Vale (VALE) Raised to Outperform at Macquarie

Vale (NYSE:VALE) was upgraded by analysts at Macquarie from a “neutral” rating to an “outperform” rating in a research note issued to investors on Tuesday, The Fly reports.

A number of other research analysts have also issued reports on the company. TheStreet upgraded Vale from a “c+” rating to a “b-” rating in a report on Tuesday, June 19th. ValuEngine lowered Vale from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 2nd. Credit Suisse Group set a $17.00 target price on Vale and gave the company a “buy” rating in a report on Thursday, April 26th. Royal Bank of Canada lowered Vale from an “outperform” rating to a “sector perform” rating and set a $16.00 target price for the company. in a report on Tuesday, April 24th. Finally, Zacks Investment Research lowered Vale from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 29th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Vale has a consensus rating of “Buy” and an average target price of $14.55.

Vale opened at $12.54 on Tuesday, according to Marketbeat Ratings. Vale has a 52 week low of $8.24 and a 52 week high of $15.24. The firm has a market cap of $66.84 billion, a PE ratio of 9.29 and a beta of 1.66. The company has a quick ratio of 1.13, a current ratio of 1.53 and a debt-to-equity ratio of 0.40.

Vale (NYSE:VALE) last released its earnings results on Wednesday, April 25th. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.03. The firm had revenue of $8.60 billion during the quarter, compared to analyst estimates of $8.60 billion. Vale had a return on equity of 14.68% and a net margin of 13.53%. equities research analysts predict that Vale will post 1.36 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of VALE. OppenheimerFunds Inc. raised its stake in Vale by 95.3% in the first quarter. OppenheimerFunds Inc. now owns 29,506,800 shares of the basic materials company’s stock valued at $375,327,000 after buying an additional 14,396,810 shares in the last quarter. Investec Asset Management LTD increased its position in shares of Vale by 379.3% during the fourth quarter. Investec Asset Management LTD now owns 8,309,203 shares of the basic materials company’s stock worth $101,622,000 after purchasing an additional 6,575,645 shares in the last quarter. Millennium Management LLC increased its position in shares of Vale by 448.5% during the fourth quarter. Millennium Management LLC now owns 6,049,489 shares of the basic materials company’s stock worth $73,985,000 after purchasing an additional 4,946,586 shares in the last quarter. Orbis Allan Gray Ltd increased its position in shares of Vale by 21.5% during the fourth quarter. Orbis Allan Gray Ltd now owns 20,438,611 shares of the basic materials company’s stock worth $249,964,000 after purchasing an additional 3,617,688 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Vale by 358.7% during the fourth quarter. Bank of New York Mellon Corp now owns 3,292,030 shares of the basic materials company’s stock worth $40,262,000 after purchasing an additional 2,574,285 shares in the last quarter. Institutional investors own 19.50% of the company’s stock.

Vale Company Profile

Vale SA, together with its subsidiaries, produces and sells iron ore and iron ore pallets 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.

The Fly

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