Santander Upgrades Vale S.A. (VALE) to “Buy”

Vale S.A. (NYSE:VALE) was upgraded by investment analysts at Santander from a “hold” rating to a “buy” rating in a report issued on Tuesday.

VALE has been the subject of several other research reports. Deutsche Bank AG reissued a “buy” rating and set a $12.00 target price (down previously from $12.50) on shares of Vale in a report on Sunday, June 25th. BMO Capital Markets reissued a “hold” rating and set a $10.00 target price on shares of Vale in a report on Friday, June 2nd. Credit Suisse Group set a $8.00 target price on shares of Vale and gave the stock a “hold” rating in a report on Sunday, May 28th. HSBC Holdings plc raised shares of Vale from a “hold” rating to a “buy” rating and raised their target price for the stock from $8.67 to $8.76 in a report on Wednesday, May 31st. Finally, Clarkson Capital reissued a “neutral” rating on shares of Vale in a report on Monday, July 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. Vale presently has an average rating of “Buy” and an average price target of $9.49.

Shares of Vale (NYSE VALE) traded up 1.289% during midday trading on Tuesday, reaching $11.395. 5,747,157 shares of the company’s stock were exchanged. The firm has a market cap of $58.72 billion, a PE ratio of 16.419 and a beta of 1.56. The stock’s 50-day moving average is $10.25 and its 200 day moving average is $9.26. Vale has a one year low of $4.86 and a one year high of $11.72.

Vale (NYSE:VALE) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. The business had revenue of $7.24 billion during the quarter. Vale had a net margin of 11.01% and a return on equity of 16.74%. Analysts anticipate that Vale will post $1.09 EPS for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in VALE. LMR Partners LLP acquired a new stake in shares of Vale in the first quarter valued at about $48,332,000. Balyasny Asset Management LLC acquired a new stake in shares of Vale in the second quarter valued at about $42,373,000. Acadian Asset Management LLC grew its position in shares of Vale by 55.2% in the second quarter. Acadian Asset Management LLC now owns 10,948,983 shares of the basic materials company’s stock valued at $95,804,000 after purchasing an additional 3,892,825 shares during the period. Trilogy Global Advisors LP acquired a new stake in shares of Vale in the second quarter valued at about $30,124,000. Finally, Capital Growth Management LP grew its position in shares of Vale by 16.7% in the first quarter. Capital Growth Management LP now owns 20,250,000 shares of the basic materials company’s stock valued at $192,375,000 after purchasing an additional 2,900,000 shares during the period. Institutional investors and hedge funds own 9.58% of the company’s stock.

About Vale

Vale SA is a global producer of iron ore and iron ore pellets, key raw materials for steelmaking, and producer of nickel. The Company also produces copper, metallurgical and thermal coal, potash, phosphates and other fertilizer nutrients, manganese ore, ferroalloys, platinum group metals, gold, silver and cobalt.

Analyst Recommendations for Vale (NYSE:VALE)

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