Vale (NYSE:VALE) Stock Gets Price Target Cut from Wells Fargo & Company

Vale (NYSE:VALE) had its price target trimmed by Wells Fargo & Company from $15.00 to $13.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an equal weight rating on the basic materials company’s stock.

A number of other research firms also recently weighed in on VALE. Wall Street Zen downgraded Vale from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Royal Bank Of Canada upped their target price on Vale from $15.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 16th. Freedom Broker reduced their price target on shares of Vale from $12.00 to $9.50 and set a “buy” rating on the stock in a research report on Monday. Sanford C. Bernstein lifted their price target on shares of Vale from $12.00 to $12.50 and gave the stock a “market perform” rating in a research note on Wednesday, September 9th. Finally, Deutsche Bank Aktiengesellschaft set a $15.00 price objective on shares of Vale and gave the stock a “hold” rating in a report on Friday, October 16th. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Vale presently has an average rating of “Hold” and an average price target of $14.96.

Vale Trading Down 0.1%

NYSE VALE opened at $11.41 on Tuesday. The stock’s 50-day simple moving average is $13.57 and its two-hundred day simple moving average is $15.18. Vale has a twelve month low of $10.96 and a twelve month high of $17.94. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $51.81 billion, a price-to-earnings ratio of 7.99 and a beta of 0.50.

Vale (NYSE:VALE) last issued 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). The firm had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.45 billion. Vale had a return on equity of 16.54% and a net margin of 1.64%. Research analysts forecast that Vale will post 1.56 EPS for the current fiscal year.

Institutional Trading of Vale

A number of institutional investors have recently modified their holdings of VALE. NewEdge Wealth LLC grew its holdings in shares of Vale by 2.8% during the 1st quarter. NewEdge Wealth LLC now owns 25,799 shares of the basic materials company’s stock worth $410,000 after acquiring an additional 708 shares during the period. Foster Group Inc. raised its position in shares of Vale by 6.9% in the 3rd quarter. Foster Group Inc. now owns 11,697 shares of the basic materials company’s stock worth $157,000 after acquiring an additional 758 shares in the last quarter. Signaturefd LLC raised its position in shares of Vale by 2.4% in the 3rd quarter. Signaturefd LLC now owns 36,105 shares of the basic materials company’s stock worth $484,000 after acquiring an additional 847 shares in the last quarter. ProShare Advisors LLC lifted its stake in shares of Vale by 7.1% in the 3rd quarter. ProShare Advisors LLC now owns 15,980 shares of the basic materials company’s stock valued at $214,000 after purchasing an additional 1,053 shares during the period. Finally, Moody National Bank Trust Division lifted its stake in shares of Vale by 5.7% in the 3rd quarter. Moody National Bank Trust Division now owns 19,659 shares of the basic materials company’s stock valued at $264,000 after purchasing an additional 1,058 shares during the period. 21.85% of the stock is currently owned by hedge funds and other institutional investors.

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.