Vale SA (NASDAQ:VALE)‘s stock had its “outperform” rating reaffirmed by analysts at Sanford C. Bernstein in a research note issued to investors on Thursday.
Other analysts have also recently issued reports about the stock. Barclays PLC raised shares of Vale SA from an “underweight” rating to an “equal weight” rating and set a $5.11 price target on the stock in a research note on Wednesday, September 21st. Morgan Stanley raised shares of Vale SA from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $4.80 to $6.20 in a research note on Tuesday, August 9th. Jefferies Group set a $6.00 price target on shares of Vale SA and gave the company a “hold” rating in a research note on Tuesday, August 23rd. Goldman Sachs Group Inc. started coverage on shares of Vale SA in a research note on Thursday, June 9th. They set a “neutral” rating and a $4.40 price target on the stock. Finally, Wedbush reissued an “outperform” rating on shares of Vale SA in a research note on Thursday, June 9th. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $5.75.
Vale SA (NASDAQ:VALE) opened at 5.42 on Thursday. The stock’s market capitalization is $27.93 billion. Vale SA has a 12-month low of $2.13 and a 12-month high of $6.26. The stock’s 50 day moving average is $5.56 and its 200 day moving average is $4.94.
Institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new stake in Vale SA during the second quarter valued at $4,433,000. Brandes Investment Partners LP purchased a new stake in Vale SA during the second quarter valued at $246,000. RNC Capital Management LLC purchased a new stake in Vale SA during the second quarter valued at $142,000. CIBC World Markets Inc. raised its stake in Vale SA by 0.3% in the second quarter. CIBC World Markets Inc. now owns 606,414 shares of the company’s stock valued at $3,068,000 after buying an additional 1,923 shares during the period. Finally, Societe Generale purchased a new stake in Vale SA during the second quarter valued at $7,295,000.
About Vale SA
Vale SA (Vale) is a metals and mining company. The Company is also a producer of iron ore and iron ore pellets, and nickel. The Company’s segments include Ferrous minerals, Coal, Base metals, Fertilizers and Others. Its Ferrous minerals segment consists of the production and extraction of ferrous minerals, as iron ore, pellets and its logistic services, manganese and ferroalloys, and other ferrous products and services.
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