JPMorgan Chase & Co. Trims Vale (NYSE:VALE) Target Price to $20.00

Vale (NYSE:VALE) had its target price trimmed by JPMorgan Chase & Co. from $20.50 to $20.00 in a research note published on Friday, Benzinga reports. The firm currently has an overweight rating on the basic materials company’s stock.

A number of other equities analysts have also issued reports on VALE. Bank of America reissued a neutral rating and issued a $13.00 price objective (down from $20.00) on shares of Vale in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft cut their price objective on Vale from $18.00 to $16.00 and set a hold rating for the company in a research report on Thursday, April 4th. UBS Group increased their price objective on Vale from $14.00 to $15.00 and gave the company a neutral rating in a research report on Thursday, December 14th. Royal Bank of Canada restated an outperform rating and issued a $19.00 target price on shares of Vale in a report on Monday, February 12th. Finally, StockNews.com initiated coverage on Vale in a report on Saturday, March 30th. They issued a buy rating for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $16.52.

Vale Stock Down 1.2 %

NYSE:VALE opened at $12.02 on Friday. The firm has a market capitalization of $53.89 billion, a PE ratio of 6.57, a price-to-earnings-growth ratio of 3.35 and a beta of 0.97. The stock has a 50 day moving average of $12.79 and a 200-day moving average of $13.82. Vale has a 52 week low of $11.73 and a 52 week high of $16.40. The company has a current ratio of 1.28, a quick ratio of 0.96 and a debt-to-equity ratio of 0.38.

Vale (NYSE:VALE) last posted its earnings results on Thursday, February 22nd. The basic materials company reported $0.56 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.48). The company had revenue of $13.05 billion for the quarter, compared to the consensus estimate of $12.95 billion. Vale had a net margin of 19.10% and a return on equity of 20.00%. During the same period last year, the company posted $0.82 earnings per share. Analysts predict that Vale will post 2.31 EPS for the current year.

Vale Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were given a $0.3182 dividend. This represents a dividend yield of 9.7%. The ex-dividend date was Tuesday, March 12th. Vale’s dividend payout ratio is currently 64.48%.

Institutional Investors Weigh In On Vale

Several hedge funds and other institutional investors have recently made changes to their positions in VALE. Pathstone Family Office LLC lifted its stake in shares of Vale by 6.1% in the fourth quarter. Pathstone Family Office LLC now owns 11,612 shares of the basic materials company’s stock valued at $197,000 after buying an additional 664 shares during the period. Greenleaf Trust lifted its stake in Vale by 2.8% during the fourth quarter. Greenleaf Trust now owns 30,283 shares of the basic materials company’s stock worth $480,000 after purchasing an additional 827 shares during the period. AdvisorNet Financial Inc lifted its stake in Vale by 44.7% during the third quarter. AdvisorNet Financial Inc now owns 2,702 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 835 shares during the period. Rehmann Capital Advisory Group raised its stake in shares of Vale by 7.0% in the third quarter. Rehmann Capital Advisory Group now owns 14,010 shares of the basic materials company’s stock valued at $188,000 after acquiring an additional 915 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Vale by 10.2% in the fourth quarter. Blue Trust Inc. now owns 10,097 shares of the basic materials company’s stock valued at $160,000 after acquiring an additional 932 shares during the last quarter. 21.85% of the stock is owned by institutional investors and hedge funds.

About 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. The company operates through Iron Solutions and Energy Transition Materials segments. The Iron Solutions segment produces and extracts iron ore and pellets, manganese, and other ferrous products; and provides related logistic services.