Vale (NYSE:VALE) Rating Increased to Hold at Zacks Research

Vale (NYSE:VALE) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

A number of other equities research analysts have also recently commented on VALE. Wells Fargo & Company decreased their target price on shares of Vale from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Thursday, July 9th. The Goldman Sachs Group cut Vale from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $18.00 to $16.00 in a research report on Monday, July 27th. Weiss Ratings restated a “hold (c)” rating on shares of Vale in a research note on Wednesday, July 8th. Bank of America reaffirmed a “neutral” rating and set a $16.00 target price (down from $18.00) on shares of Vale in a research report on Wednesday, August 5th. Finally, UBS Group reiterated a “neutral” rating and issued a $16.50 price target on shares of Vale in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $16.33.

Vale Price Performance

NYSE VALE opened at $15.55 on Monday. The company has a market cap of $70.60 billion, a PE ratio of 31.74 and a beta of 0.49. The firm’s 50 day moving average price is $14.69 and its 200-day moving average price is $15.59. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.77 and a current ratio of 1.19. Vale has a 52-week low of $10.33 and a 52-week high of $17.94.

Vale (NYSE:VALE) last issued its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.10). The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $10.47 billion. Vale had a return on equity of 19.87% and a net margin of 5.11%. Sell-side analysts forecast that Vale will post 1.9 EPS for the current fiscal year.

Institutional Trading of Vale

Several large investors have recently made changes to their positions in VALE. Arrowstreet Capital Limited Partnership raised its holdings in shares of Vale by 2,239.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 41,596,000 shares of the basic materials company’s stock worth $541,996,000 after purchasing an additional 39,818,066 shares during the last quarter. Capital World Investors raised its stake in shares of Vale by 58.2% during the 4th quarter. Capital World Investors now owns 89,322,261 shares of the basic materials company’s stock valued at $1,163,896,000 after buying an additional 32,864,929 shares during the last quarter. GQG Partners LLC grew its holdings in Vale by 42.4% during the fourth quarter. GQG Partners LLC now owns 65,132,572 shares of the basic materials company’s stock worth $848,677,000 after acquiring an additional 19,397,396 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Vale by 15,202.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 15,663,641 shares of the basic materials company’s stock valued at $249,209,000 after purchasing an additional 15,561,279 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Vale by 119.9% during the first quarter. Bank of America Corp DE now owns 21,837,416 shares of the basic materials company’s stock worth $347,433,000 after buying an additional 11,905,247 shares in the last quarter. 21.85% of the stock is owned by hedge funds and other institutional investors.

Vale Company Profile

Vale SA is a Brazilian mining and logistics company headquartered in Rio de Janeiro. Its principal business is the production of iron ore and iron ore pellets, which are supplied to steelmakers around the world. The company also produces nickel, copper, manganese, coal and other mineral products.

Vale operates mining, processing, transportation and logistics infrastructure, including railways, ports and maritime terminals. Its operations and projects span Brazil and other jurisdictions, including Canada and Indonesia, enabling the company to serve customers in international markets.

The company was established in 1942 as Companhia Vale do Rio Doce and was privatized in 1997.