Vale (NYSE:VALE) Upgraded at Bank of America

Bank of America upgraded shares of Vale (NYSE:VALE) from a neutral rating to a buy rating in a report issued on Thursday, Marketbeat reports. The brokerage currently has $19.00 target price on the basic materials company’s stock, up from their previous target price of $18.00.

Several other research firms have also recently issued reports on VALE. Royal Bank Of Canada cut shares of Vale from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $14.50 to $15.50 in a report on Thursday, March 12th. Zacks Research lowered shares of Vale from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. The Goldman Sachs Group boosted their target price on shares of Vale from $13.80 to $18.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Wells Fargo & Company reaffirmed a “cautious” rating and set a $15.50 price target on shares of Vale in a research report on Monday, February 16th. Finally, JPMorgan Chase & Co. lifted their price target on Vale from $17.50 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Vale presently has an average rating of “Moderate Buy” and a consensus target price of $15.25.

Vale Price Performance

Shares of NYSE VALE opened at $16.18 on Thursday. The company has a quick ratio of 0.78, a current ratio of 1.15 and a debt-to-equity ratio of 0.53. Vale has a fifty-two week low of $8.06 and a fifty-two week high of $17.72. The business has a 50 day moving average price of $16.00 and a two-hundred day moving average price of $13.68. The firm has a market cap of $73.45 billion, a PE ratio of 28.90 and a beta of 0.53.

Vale (NYSE:VALE) last announced its earnings results on Friday, February 13th. The basic materials company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($1.42). Vale had a net margin of 6.12% and a return on equity of 20.16%. The business had revenue of $11.06 billion during the quarter, compared to analyst estimates of $10.86 billion. Sell-side analysts expect that Vale will post 1.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Vale news, VP Sobrinho Sami Arap bought 12,990 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were bought at an average cost of $16.11 per share, with a total value of $209,268.90. Following the completion of the acquisition, the vice president owned 12,990 shares of the company’s stock, valued at approximately $209,268.90. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Parenti Grazielle Tallia purchased 10,464 shares of Vale stock in a transaction dated Wednesday, April 1st. The stock was acquired at an average price of $16.11 per share, for a total transaction of $168,575.04. Following the completion of the transaction, the insider owned 10,464 shares in the company, valued at approximately $168,575.04. The trade was a ? increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Institutional Investors Weigh In On Vale

A number of institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC raised its stake in Vale by 4.9% during the first quarter. NewEdge Advisors LLC now owns 79,400 shares of the basic materials company’s stock worth $792,000 after acquiring an additional 3,704 shares during the period. Jones Financial Companies Lllp boosted its stake in Vale by 46.6% in the first quarter. Jones Financial Companies Lllp now owns 37,613 shares of the basic materials company’s stock valued at $375,000 after acquiring an additional 11,964 shares during the period. Empowered Funds LLC acquired a new position in Vale in the first quarter valued at approximately $171,000. Strs Ohio bought a new position in shares of Vale during the first quarter valued at approximately $117,000. Finally, Sivia Capital Partners LLC bought a new position in shares of Vale during the second quarter valued at approximately $123,000. Institutional investors own 21.85% of the company’s stock.

About Vale

Vale SA is a Brazilian multinational mining company and one of the world’s largest producers of iron ore and iron ore pellets. In addition to iron ore, the company produces and sells a range of bulk commodities and metals, including nickel, copper, coal, manganese, ferroalloys and cobalt, and it participates in the fertilizer inputs market. Vale also operates extensive logistics assets — including rail, port and maritime logistics — that support its mining and export activities and provide services to third parties in some regions.

Headquartered in Brazil, Vale maintains a global operational footprint with mining, processing and shipping activities across the Americas, Africa, Asia and Oceania.