Vale (NYSE:VALE) Posts Earnings Results, Misses Expectations By $0.10 EPS

Vale (NYSE:VALE) issued its quarterly earnings results on Thursday. The basic materials company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.10), FiscalAI reports. The firm had revenue of $10.24 billion for the quarter, compared to analyst estimates of $10.47 billion. Vale had a return on equity of 21.10% and a net margin of 7.21%.

Vale Price Performance

Shares of NYSE:VALE traded down $0.01 during trading on Friday, reaching $14.97. 23,026,910 shares of the company’s stock traded hands, compared to its average volume of 29,757,270. The company has a quick ratio of 0.79, a current ratio of 1.24 and a debt-to-equity ratio of 0.48. Vale has a fifty-two week low of $9.36 and a fifty-two week high of $17.94. The company has a 50-day simple moving average of $15.21 and a 200-day simple moving average of $15.83. The firm has a market cap of $67.97 billion, a PE ratio of 22.43 and a beta of 0.46.

Analysts Set New Price Targets

A number of brokerages recently commented on VALE. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Vale in a research report on Monday, June 15th. Bank of America upgraded shares of Vale from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $18.00 to $19.00 in a research note on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $18.00 price target on shares of Vale in a report on Friday, May 15th. Morgan Stanley restated an “equal weight” rating and issued a $16.50 target price (down from $19.50) on shares of Vale in a research note on Wednesday, July 8th. Finally, The Goldman Sachs Group cut Vale from a “buy” rating to a “neutral” rating and reduced their price target for the company from $18.00 to $16.00 in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $16.15.

Hedge Funds Weigh In On Vale

A number of hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC increased its position in shares of Vale by 4.9% in the first quarter. NewEdge Advisors LLC now owns 79,400 shares of the basic materials company’s stock valued at $792,000 after buying an additional 3,704 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Vale by 46.6% during the 1st quarter. Jones Financial Companies Lllp now owns 37,613 shares of the basic materials company’s stock worth $375,000 after purchasing an additional 11,964 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Vale during the 1st quarter worth about $171,000. Strs Ohio purchased a new position in Vale in the 1st quarter valued at about $117,000. Finally, Sivia Capital Partners LLC acquired a new stake in Vale in the 2nd quarter worth about $123,000. Hedge funds and other institutional investors own 21.85% of the company’s stock.

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.