Vale SA (NYSE:VALE) gapped down prior to trading on Monday . The stock had previously closed at $13.23, but opened at $12.79. Vale shares last traded at $12.52, with a volume of 15243725 shares trading hands.
Several research analysts recently issued reports on VALE shares. Barclays set a $16.00 target price on shares of Vale and gave the stock a “buy” rating in a research note on Thursday, January 10th. HSBC lowered shares of Vale from a “buy” rating to a “hold” rating and cut their target price for the stock from $18.00 to $14.50 in a research note on Monday, January 28th. Jefferies Financial Group set a $14.00 target price on shares of Vale and gave the stock a “hold” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada cut their target price on shares of Vale to $9.00 and set an “underperform” rating on the stock in a research note on Monday, February 4th. Finally, Morgan Stanley lowered shares of Vale from an “overweight” rating to an “equal weight” rating and set a $11.40 target price on the stock. in a research note on Thursday, February 7th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $13.76.
The company has a market capitalization of $66.73 billion, a PE ratio of 6.77 and a beta of 1.10. The company has a current ratio of 1.68, a quick ratio of 1.19 and a debt-to-equity ratio of 0.32.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lindbrook Capital LLC acquired a new position in Vale during the fourth quarter worth $26,000. Semmax Financial Advisors Inc. acquired a new position in Vale during the fourth quarter worth $29,000. Enterprise Financial Services Corp raised its holdings in Vale by 338.7% during the first quarter. Enterprise Financial Services Corp now owns 4,124 shares of the basic materials company’s stock worth $54,000 after buying an additional 3,184 shares during the last quarter. Investors Research Corp acquired a new position in Vale during the first quarter worth $72,000. Finally, Bessemer Group Inc. acquired a new position in Vale during the fourth quarter worth $124,000. Hedge funds and other institutional investors own 19.69% of the company’s stock.
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Vale Company Profile (NYSE: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. 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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