Vale (NYSE:VALE) Downgraded to “Strong Sell” Rating by Freedom Broker

Freedom Broker cut shares of Vale (NYSE:VALE) from a hold rating to a strong sell rating in a research report report published on Thursday morning,Zacks reports.

Other equities research analysts have also issued reports about the company. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Vale in a research note on Monday, June 15th. JPMorgan Chase & Co. increased their price target on Vale from $19.50 to $21.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Wall Street Zen downgraded Vale from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Scotiabank dropped their price objective on shares of Vale from $19.00 to $16.00 and set a “sector perform” rating for the company in a research note on Monday, July 20th. Finally, UBS Group reiterated a “neutral” rating and set a $16.50 price objective on shares of Vale in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $16.33.

Vale Stock Down 2.5%

Shares of NYSE VALE opened at $15.33 on Thursday. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.45. Vale has a 12-month low of $10.18 and a 12-month high of $17.94. The firm’s 50-day moving average price is $14.67 and its 200-day moving average price is $15.61. The stock has a market capitalization of $69.58 billion, a price-to-earnings ratio of 31.29 and a beta of 0.49.

Vale (NYSE:VALE) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.10). Vale had a return on equity of 19.87% and a net margin of 5.11%.The company had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $10.47 billion. On average, equities research analysts anticipate that Vale will post 1.9 EPS for the current fiscal year.

Vale Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 13th will be given a dividend of $0.3088 per share. The ex-dividend date is Thursday, August 13th. Vale’s payout ratio is 89.80%.

Institutional Investors Weigh In On Vale

Several hedge funds and other institutional investors have recently modified their holdings of VALE. NewEdge Advisors LLC grew its position in Vale by 4.9% in the 1st quarter. NewEdge Advisors LLC now owns 79,400 shares of the basic materials company’s stock valued at $792,000 after acquiring an additional 3,704 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Vale by 46.6% during the first quarter. Jones Financial Companies Lllp now owns 37,613 shares of the basic materials company’s stock valued at $375,000 after purchasing an additional 11,964 shares during the period. Empowered Funds LLC bought a new position in shares of Vale in the first quarter worth about $171,000. Strs Ohio bought a new position in shares of Vale in the first quarter worth about $117,000. Finally, Sivia Capital Partners LLC purchased a new position in Vale in the 2nd quarter worth about $123,000. 21.85% of the stock is currently owned by hedge funds and other institutional investors.

Vale Company Profile

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.