A number of other research firms have also recently commented on VALE. Vetr raised Vale SA from a buy rating to a strong-buy rating and set a $11.27 target price on the stock in a research note on Monday, February 13th. Citigroup Inc raised Vale SA from a neutral rating to a buy rating in a research note on Monday, January 23rd. Barclays PLC raised Vale SA from an equal weight rating to an overweight rating and set a $9.00 target price on the stock in a research note on Monday, January 9th. Credit Suisse Group AG raised Vale SA from an underperform rating to a neutral rating in a research note on Wednesday, December 7th. Finally, Zacks Investment Research raised Vale SA from a hold rating to a strong-buy rating and set a $11.00 target price on the stock in a research note on Thursday, March 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $8.15.
Shares of Vale SA (NYSE:VALE) opened at 10.29 on Thursday. The company has a market capitalization of $53.03 billion, a PE ratio of 12.61 and a beta of 1.57. Vale SA has a 52 week low of $3.70 and a 52 week high of $11.70. The company has a 50-day moving average price of $10.33 and a 200-day moving average price of $8.02.
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The company also recently announced a semiannual dividend, which will be paid on Friday, May 5th. Shareholders of record on Wednesday, April 26th will be given a $0.2881 dividend. This represents a yield of 5.8%. This is a boost from Vale SA’s previous semiannual dividend of $0.19. The ex-dividend date of this dividend is Monday, April 24th. Vale SA’s dividend payout ratio (DPR) is presently -4.00%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Meridian Wealth Management LLC purchased a new position in shares of Vale SA during the fourth quarter valued at about $276,000. Wetherby Asset Management Inc. boosted its position in shares of Vale SA by 10.9% in the fourth quarter. Wetherby Asset Management Inc. now owns 27,995 shares of the company’s stock valued at $213,000 after buying an additional 2,753 shares during the last quarter. Wexford Capital LP purchased a new position in shares of Vale SA during the fourth quarter valued at about $218,000. Pacad Investment Ltd. purchased a new position in shares of Vale SA during the fourth quarter valued at about $390,000. Finally, BigSur Wealth Management LLC purchased a new position in shares of Vale SA during the fourth quarter valued at about $663,000. 7.98% of the stock is currently owned by institutional investors and hedge funds.
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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