UBS Group upgraded shares of Vale (NYSE:VALE) from a sell rating to a neutral rating in a research report released on Wednesday, The Fly reports.
Several other equities research analysts have also issued reports on VALE. Royal Bank of Canada reaffirmed a hold rating and set a $12.00 target price on shares of Vale in a research report on Wednesday, July 25th. Jefferies Financial Group set a $15.00 price target on Vale and gave the company a hold rating in a research note on Friday, July 27th. ValuEngine upgraded Vale from a hold rating to a buy rating in a research note on Friday, September 21st. Zacks Investment Research lowered Vale from a buy rating to a hold rating in a research note on Tuesday, August 21st. Finally, BNP Paribas upgraded Vale from an underperform rating to a neutral rating in a research note on Tuesday, September 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. Vale presently has a consensus rating of Buy and a consensus price target of $15.13.
Shares of NYSE:VALE traded down $0.07 during midday trading on Wednesday, reaching $15.45. 19,612,246 shares of the company’s stock were exchanged, compared to its average volume of 25,929,966. The company has a market capitalization of $78.79 billion, a price-to-earnings ratio of 9.93 and a beta of 1.51. Vale has a 12 month low of $9.53 and a 12 month high of $16.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.21 and a current ratio of 1.65.
A number of large investors have recently bought and sold shares of the business. American Century Companies Inc. grew its position in shares of Vale by 52.2% during the 3rd quarter. American Century Companies Inc. now owns 2,824,317 shares of the basic materials company’s stock valued at $41,913,000 after buying an additional 969,010 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in Vale by 23.0% during the third quarter. Daiwa Securities Group Inc. now owns 786,520 shares of the basic materials company’s stock worth $11,672,000 after buying an additional 146,872 shares during the last quarter. Comerica Bank increased its holdings in Vale by 5.9% during the third quarter. Comerica Bank now owns 305,097 shares of the basic materials company’s stock worth $4,647,000 after buying an additional 16,992 shares during the last quarter. Private Advisor Group LLC acquired a new position in Vale during the third quarter worth $213,000. Finally, TCW Group Inc. acquired a new position in Vale during the third quarter worth $3,305,000. Institutional investors own 20.01% 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.
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