Vale SA (NYSE:VALE) – Jefferies Financial Group lowered their FY2020 earnings per share estimates for Vale in a research report issued on Wednesday, March 13th. Jefferies Financial Group analyst C. Lafemina now forecasts that the basic materials company will post earnings per share of $1.87 for the year, down from their prior estimate of $1.88. Jefferies Financial Group has a “Hold” rating and a $14.00 price objective on the stock. Jefferies Financial Group also issued estimates for Vale’s FY2021 earnings at $2.06 EPS.
Several other brokerages have also issued reports on VALE. Exane BNP Paribas lowered Vale from a “neutral” rating to an “underperform” rating in a research note on Thursday, January 24th. BNP Paribas lowered Vale from a “neutral” rating to an “underperform” rating in a research note on Thursday, January 24th. Barclays set a $16.00 price objective on Vale and gave the company a “buy” rating in a research note on Thursday, January 10th. Macquarie lowered Vale from an “outperform” rating to a “neutral” rating in a research note on Monday, January 28th. Finally, BMO Capital Markets lowered Vale from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $15.00 to $13.00 in a research note on Monday, January 28th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. Vale currently has an average rating of “Hold” and a consensus target price of $13.90.
Shares of VALE opened at $13.15 on Friday. The firm has a market capitalization of $68.09 billion, a price-to-earnings ratio of 9.74 and a beta of 1.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.21 and a current ratio of 1.65. Vale has a 1 year low of $10.89 and a 1 year high of $16.13.
Several institutional investors and hedge funds have recently bought and sold shares of the company. MUFG Securities EMEA plc boosted its holdings in Vale by 14.4% during the 4th quarter. MUFG Securities EMEA plc now owns 23,873 shares of the basic materials company’s stock valued at $315,000 after acquiring an additional 3,000 shares during the period. Norges Bank purchased a new stake in Vale during the 4th quarter valued at about $172,007,000. FMR LLC boosted its holdings in Vale by 25.4% during the 4th quarter. FMR LLC now owns 18,419,049 shares of the basic materials company’s stock valued at $242,948,000 after acquiring an additional 3,730,951 shares during the period. GQG Partners LLC boosted its holdings in Vale by 97.4% during the 4th quarter. GQG Partners LLC now owns 6,067,790 shares of the basic materials company’s stock valued at $80,046,000 after acquiring an additional 2,994,288 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in Vale during the 4th quarter valued at about $325,000. Hedge funds and other institutional investors own 19.53% of the company’s stock.
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, as well as engages in the provision of related railroad, port, and terminal logistics services.
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