Barclays Issues Pessimistic Forecast for Vale (NYSE:VALE) Stock Price

Vale (NYSE:VALE) had its price target decreased by analysts at Barclays from $15.00 to $14.50 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the basic materials company’s stock. Barclays‘s price objective points to a potential upside of 27.81% from the stock’s current price.

A number of other research firms have also recently weighed in on VALE. Weiss Ratings cut Vale from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft set a $15.00 target price on Vale in a research report on Friday, October 16th. Royal Bank Of Canada raised their price target on Vale from $15.00 to $16.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 16th. Morgan Stanley set a $15.50 price target on Vale in a research note on Wednesday, October 7th. Finally, Wall Street Zen downgraded shares of Vale from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $15.67.

Vale Stock Down 0.4%

NYSE:VALE traded down $0.04 during midday trading on Monday, reaching $11.35. 27,867,857 shares of the stock traded hands, compared to its average volume of 30,515,234. Vale has a 12-month low of $11.06 and a 12-month high of $17.94. The business has a 50-day moving average of $13.87 and a two-hundred day moving average of $15.24. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.77 and a current ratio of 1.19. The stock has a market capitalization of $51.50 billion, a PE ratio of 75.64 and a beta of 0.42.

Vale (NYSE:VALE) last released its quarterly earnings results on Thursday, October 29th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.09). Vale had a return on equity of 16.72% and a net margin of 1.64%. The firm had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.45 billion. On average, equities analysts forecast that Vale will post 1.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vale

Several hedge funds have recently made changes to their positions in the company. Collaborative Fund Advisors LLC raised its stake in shares of Vale by 13.6% in the third quarter. Collaborative Fund Advisors LLC now owns 37,153 shares of the basic materials company’s stock worth $498,000 after purchasing an additional 4,456 shares during the last quarter. Pzena Investment Management LLC boosted its position in Vale by 7.3% in the third quarter. Pzena Investment Management LLC now owns 63,382 shares of the basic materials company’s stock valued at $850,000 after buying an additional 4,305 shares during the last quarter. ARGA Investment Management LP purchased a new stake in Vale in the third quarter valued at approximately $2,284,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Vale in the 3rd quarter worth approximately $4,721,000. Finally, ProShare Advisors LLC increased its holdings in Vale by 7.1% in the 3rd quarter. ProShare Advisors LLC now owns 15,980 shares of the basic materials company’s stock worth $214,000 after buying an additional 1,053 shares during the period. 21.85% of the stock is owned by institutional investors and hedge funds.

Vale Company Profile

Vale SA is a Brazil-based global mining and logistics company best known for producing iron ore and iron ore pellets, key raw materials used in steelmaking. The company also produces nickel, copper, manganese ore, coal and other mineral products, with operations spanning exploration, extraction, processing and transportation.

Vale operates an extensive logistics network that includes railways, ports and maritime transportation systems, primarily supporting the movement of minerals from its production sites to domestic and international customers.