Vale (VALE) Shares Gap Down to $12.04

Vale SA (NYSE:VALE) shares gapped down before the market opened on Wednesday . The stock had previously closed at $12.30, but opened at $12.04. Vale shares last traded at $12.00, with a volume of 13353296 shares.

Several research analysts have recently issued reports on the stock. BMO Capital Markets set a $13.00 price target on shares of Vale and gave the stock a “hold” rating in a report on Thursday, April 4th. Zacks Investment Research downgraded shares of Vale from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Barclays set a $14.00 price target on shares of Vale and gave the stock a “buy” rating in a report on Friday, April 12th. ValuEngine downgraded shares of Vale from a “hold” rating to a “sell” rating in a report on Monday, April 1st. Finally, Royal Bank of Canada set a $10.00 price target on shares of Vale and gave the stock a “sell” rating in a report on Tuesday, April 2nd. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. Vale currently has an average rating of “Hold” and a consensus price target of $13.76.

The firm has a market cap of $62.56 billion, a price-to-earnings ratio of 6.49 and a beta of 1.10. The company has a quick ratio of 1.19, a current ratio of 1.21 and a debt-to-equity ratio of 0.37.

Vale (NYSE:VALE) last posted its quarterly earnings data on Wednesday, March 27th. The basic materials company reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.11. The business had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $10.67 billion. Vale had a return on equity of 14.51% and a net margin of 10.03%. Equities research analysts forecast that Vale SA will post 2.16 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of VALE. Renaissance Technologies LLC increased its holdings in Vale by 1,523.0% in the first quarter. Renaissance Technologies LLC now owns 27,332,549 shares of the basic materials company’s stock valued at $356,963,000 after purchasing an additional 25,648,449 shares during the period. Norges Bank acquired a new stake in Vale in the fourth quarter valued at $172,007,000. Hsbc Holdings PLC increased its holdings in Vale by 1,945.1% in the first quarter. Hsbc Holdings PLC now owns 11,439,001 shares of the basic materials company’s stock valued at $149,393,000 after purchasing an additional 10,879,662 shares during the period. Baillie Gifford & Co. acquired a new stake in Vale in the first quarter valued at $137,831,000. Finally, FIL Ltd increased its holdings in Vale by 145.9% in the first quarter. FIL Ltd now owns 17,602,739 shares of the basic materials company’s stock valued at $229,892,000 after purchasing an additional 10,443,564 shares during the period. Institutional investors and hedge funds own 19.23% of the company’s stock.

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About Vale (NYSE:VALE)

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; and provides related logistic services.

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