Vale SA (NYSE:VALE) was upgraded by equities research analysts at Vetr from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $6.06 target price on the stock. Vetr‘s price target suggests a potential upside of 9.58% from the stock’s previous close.
A number of other research analysts have also issued reports on VALE. Morgan Stanley raised Vale SA from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $4.80 to $6.20 in a report on Tuesday, August 9th. Royal Bank Of Canada boosted their target price on Vale SA from $5.50 to $6.00 and gave the company a “sector perform” rating in a report on Thursday, September 8th. JPMorgan Chase & Co. raised Vale SA from a “neutral” rating to an “overweight” rating in a report on Monday, September 12th. Finally, Barclays PLC raised Vale SA from an “underweight” rating to an “equal weight” rating in a report on Wednesday, September 21st. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $5.01.
Vale SA (NYSE:VALE) opened at 5.53 on Wednesday. Vale SA has a one year low of $2.13 and a one year high of $6.26. The stock’s market cap is $28.50 billion. The firm has a 50-day moving average price of $5.45 and a 200-day moving average price of $5.09.
A number of institutional investors have recently added to or reduced their stakes in VALE. Adage Capital Partners GP L.L.C. acquired a new position in Vale SA during the first quarter valued at $21,892,000. Capital Growth Management LP acquired a new position in Vale SA during the first quarter valued at $13,051,000. Kiltearn Partners LLP increased its position in Vale SA by 10.1% in the first quarter. Kiltearn Partners LLP now owns 17,061,693 shares of the company’s stock valued at $71,830,000 after buying an additional 1,560,700 shares during the period. LPL Financial LLC increased its position in Vale SA by 4.2% in the first quarter. LPL Financial LLC now owns 321,495 shares of the company’s stock valued at $1,328,000 after buying an additional 12,910 shares during the period. Finally, Scotia Capital Inc. increased its position in Vale SA by 13.1% in the first quarter. Scotia Capital Inc. now owns 63,280 shares of the company’s stock valued at $267,000 after buying an additional 7,320 shares during the period. Hedge funds and other institutional investors own 8.58% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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