Vale SA (NASDAQ:VALE) – Equities researchers at Jefferies Group boosted their FY2016 earnings per share (EPS) estimates for Vale SA in a research note issued on Friday. Jefferies Group analyst C. Lafemina now anticipates that the brokerage will post earnings of $0.40 per share for the year, up from their prior estimate of $0.30. Jefferies Group has a “Hold” rating and a $6.00 price objective on the stock. Jefferies Group also issued estimates for Vale SA’s FY2018 earnings at $0.80 EPS.
Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. upgraded shares of Vale SA from a “neutral” rating to an “overweight” rating and set a $7.00 price objective for the company in a research report on Monday, September 12th. Barclays PLC upgraded shares of Vale SA from an “underweight” rating to an “equal weight” rating and set a $5.11 price objective for the company in a research report on Wednesday, September 21st. RBC Capital Markets restated a “sector perform” rating and set a $6.00 price objective (up previously from $5.50) on shares of Vale SA in a research report on Thursday, September 8th. HSBC restated a “hold” rating and set a $6.00 price objective on shares of Vale SA in a research report on Thursday, September 29th. Finally, Vetr upgraded shares of Vale SA from a “hold” rating to a “buy” rating in a research report on Saturday. Seven equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $5.77.
Shares of Vale SA (NASDAQ:VALE) opened at 5.84 on Monday. Vale SA has a 52-week low of $2.13 and a 52-week high of $6.26. The company’s 50-day moving average is $5.46 and its 200 day moving average is $5.14. The firm’s market cap is $30.10 billion.
A number of hedge funds have recently added to or reduced their stakes in VALE. Capital Growth Management LP boosted its position 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 purchased a new position in shares of Vale SA during the second quarter valued at about $10,106,000. American Century Companies Inc. purchased a new position in shares of Vale SA during the second quarter valued at about $9,768,000. ClariVest Asset Management LLC purchased a new position in shares of Vale SA during the second quarter valued at about $7,786,000. Finally, Societe Generale purchased a new position in shares of Vale SA during the second quarter valued at about $7,295,000.
Vale SA Company Profile
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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