Vale (NYSE:VALE) Price Target Raised to $19.50

Vale (NYSE:VALE) had its price target lifted by analysts at JPMorgan Chase & Co. from $18.50 to $19.50 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 18.15% from the company’s previous close.

VALE has been the subject of a number of other reports. Scotiabank reissued a “sector perform” rating and issued a $16.50 target price on shares of Vale in a research report on Monday, February 9th. Wall Street Zen upgraded Vale from a “hold” rating to a “buy” rating in a research note on Sunday, May 3rd. Barclays boosted their price objective on Vale from $15.50 to $16.50 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $18.00 price objective on shares of Vale in a report on Friday, May 15th. Finally, Zacks Research downgraded shares of Vale from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.54.

Vale Stock Performance

NYSE VALE traded up $0.04 during trading hours on Friday, reaching $16.51. 11,066,127 shares of the company were exchanged, compared to its average volume of 33,319,605. The stock has a market capitalization of $74.92 billion, a P/E ratio of 24.59 and a beta of 0.46. The company has a quick ratio of 0.79, a current ratio of 1.24 and a debt-to-equity ratio of 0.48. Vale has a 1 year low of $8.97 and a 1 year high of $17.94. The business’s 50 day simple moving average is $16.22 and its 200-day simple moving average is $14.98.

Vale (NYSE:VALE) last released its earnings results on Tuesday, April 28th. The basic materials company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). Vale had a net margin of 7.21% and a return on equity of 21.10%. The company had revenue of $9.26 billion during the quarter, compared to analysts’ expectations of $9.53 billion. On average, equities research analysts expect that Vale will post 2.12 earnings per share for the current year.

Insider Activity

In related news, VP Sobrinho Sami Arap bought 12,990 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was acquired at an average price of $16.11 per share, for a total transaction of $209,268.90. Following the purchase, the vice president directly owned 12,990 shares in the company, valued at $209,268.90. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parenti Grazielle Tallia bought 10,464 shares of Vale 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 $168,575.04. Following the acquisition, the insider directly owned 10,464 shares in the company, valued at approximately $168,575.04. This represents a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Institutional Trading of Vale

Institutional investors and hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC grew its position in shares of Vale by 4.9% during the 1st quarter. NewEdge Advisors LLC now owns 79,400 shares of the basic materials company’s stock valued at $792,000 after purchasing an additional 3,704 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Vale by 46.6% in the first quarter. Jones Financial Companies Lllp now owns 37,613 shares of the basic materials company’s stock worth $375,000 after buying an additional 11,964 shares in the last quarter. Empowered Funds LLC bought a new stake in Vale during the first quarter valued at $171,000. Strs Ohio bought a new stake in Vale during the first quarter valued at $117,000. Finally, Sivia Capital Partners LLC purchased a new position in Vale during the second quarter worth about $123,000. 21.85% of the stock is currently owned by hedge funds and other institutional investors.

Vale Company Profile

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.