Scotiabank Issues Pessimistic Forecast for Vale (NYSE:VALE) Stock Price

Vale (NYSE:VALE) had its price objective lowered by research analysts at Scotiabank from $19.00 to $16.00 in a report issued on Monday,Benzinga reports. The firm presently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s target price points to a potential upside of 12.40% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Vale from a “buy” rating to a “hold” rating in a research report on Saturday. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Vale in a research report on Monday, June 15th. Morgan Stanley reaffirmed an “equal weight” rating and set a $16.50 price target (down from $19.50) on shares of Vale in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $18.00 price objective on shares of Vale in a research report on Friday, May 15th. Finally, Bank of America raised Vale from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $18.00 to $19.00 in a research note on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.31.

Vale Trading Up 0.3%

VALE stock traded up $0.04 during trading on Monday, hitting $14.23. The company had a trading volume of 1,384,899 shares, compared to its average volume of 30,209,420. The business has a 50-day moving average of $15.56 and a 200-day moving average of $15.76. Vale has a one year low of $9.36 and a one year high of $17.94. The stock has a market cap of $64.61 billion, a PE ratio of 21.32 and a beta of 0.46. The company has a current ratio of 1.24, a quick ratio of 0.79 and a debt-to-equity ratio of 0.48.

Vale (NYSE:VALE) last released its quarterly earnings results on Tuesday, April 28th. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.08). The firm had revenue of $9.26 billion for the quarter, compared to the consensus estimate of $9.53 billion. Vale had a return on equity of 21.10% and a net margin of 7.21%. Research analysts predict that Vale will post 1.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vale

A number of large investors have recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. raised its stake in shares of Vale by 77.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 20,809,302 shares of the basic materials company’s stock valued at $271,145,000 after buying an additional 9,103,727 shares during the period. Aberdeen Group plc grew its stake in shares of Vale by 2.4% during the 4th quarter. Aberdeen Group plc now owns 2,838,991 shares of the basic materials company’s stock worth $36,992,000 after acquiring an additional 66,896 shares during the period. Surience Private Wealth LLC bought a new position in shares of Vale during the 4th quarter worth $2,218,000. Euro Pacific Asset Management LLC grew its stake in shares of Vale by 575.2% during the 4th quarter. Euro Pacific Asset Management LLC now owns 488,718 shares of the basic materials company’s stock worth $6,368,000 after acquiring an additional 416,339 shares during the period. Finally, Jennison Associates LLC increased its holdings in Vale by 55.0% in the 4th quarter. Jennison Associates LLC now owns 1,603,391 shares of the basic materials company’s stock worth $20,892,000 after acquiring an additional 568,637 shares during the last quarter. 21.85% of the stock is currently owned by institutional investors and hedge funds.

About Vale

Vale SA is a Brazilian multinational mining company and one of the world’s largest producers of iron ore and iron ore pellets. In addition to iron ore, the company produces and sells a range of bulk commodities and metals, including nickel, copper, coal, manganese, ferroalloys and cobalt, and it participates in the fertilizer inputs market. Vale also operates extensive logistics assets — including rail, port and maritime logistics — that support its mining and export activities and provide services to third parties in some regions.

Headquartered in Brazil, Vale maintains a global operational footprint with mining, processing and shipping activities across the Americas, Africa, Asia and Oceania.