Shares of Vale SA (NASDAQ:VALE) have been assigned an average recommendation of “Hold” from the eleven brokerages that are covering the stock. Seven research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $5.77.
A number of equities research analysts have recently weighed in on the stock. Morgan Stanley raised shares of Vale SA from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $4.80 to $6.20 in a report on Tuesday, August 9th. Jefferies Group set a $6.00 price objective on shares of Vale SA and gave the company a “hold” rating in a report on Tuesday, August 23rd. HSBC reissued a “hold” rating and set a $6.00 price objective on shares of Vale SA in a report on Thursday, September 29th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $6.00 price target (up from $5.50) on shares of Vale SA in a report on Thursday, September 8th. Finally, Royal Bank Of Canada upped their price target on shares of Vale SA from $5.50 to $6.00 and gave the company a “sector perform” rating in a report on Thursday, September 8th.
A number of large investors have recently made changes to their positions in VALE. Capital Growth Management LP raised its stake in shares of Vale SA by 125.8% in the second quarter. Capital Growth Management LP now owns 7,000,000 shares of the company’s stock valued at $35,420,000 after buying an additional 3,900,000 shares in the last quarter. Exane Derivatives bought a new stake in shares of Vale SA during the second quarter valued at approximately $10,106,000. American Century Companies Inc. bought a new stake in shares of Vale SA during the second quarter valued at approximately $9,768,000. ClariVest Asset Management LLC bought a new stake in shares of Vale SA during the second quarter valued at approximately $7,786,000. Finally, Societe Generale bought a new stake in shares of Vale SA during the second quarter valued at approximately $7,295,000.
Shares of Vale SA (NASDAQ:VALE) opened at 5.53 on Tuesday. The stock has a 50 day moving average price of $5.45 and a 200 day moving average price of $5.09. The company’s market capitalization is $28.50 billion. Vale SA has a one year low of $2.13 and a one year high of $6.26.
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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