Vale S.A. (VALE) Rating Increased to Buy at Sandler O’Neill

Vale S.A. (NYSE:VALE) was upgraded by Sandler O’Neill from a “hold” rating to a “buy” rating in a report released on Wednesday.

VALE has been the topic of several other research reports. Vetr cut shares of Vale from a “strong-buy” rating to a “buy” rating and set a $9.26 price target on the stock. in a research report on Monday, June 12th. Deutsche Bank AG reissued a “buy” rating and set a $12.00 price target (down previously from $12.50) on shares of Vale in a research report on Sunday, June 25th. BMO Capital Markets reissued a “hold” rating and set a $10.00 price target on shares of Vale in a research report on Friday, June 2nd. BidaskClub raised shares of Vale from a “sell” rating to a “hold” rating in a research report on Saturday, June 24th. Finally, Credit Suisse Group set a $8.00 price target on shares of Vale and gave the company a “hold” rating in a research report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $9.67.

Shares of Vale (NYSE:VALE) opened at 11.29 on Wednesday. Vale has a 12-month low of $4.86 and a 12-month high of $11.72. The stock has a 50 day moving average of $10.28 and a 200 day moving average of $9.27. The company has a market cap of $58.18 billion, a price-to-earnings ratio of 16.27 and a beta of 1.56.

Vale (NYSE:VALE) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. The firm had revenue of $7.24 billion for the quarter. Vale had a net margin of 11.01% and a return on equity of 16.74%. Equities research analysts predict that Vale will post $1.09 earnings per share for the current fiscal year.

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

Vale Company Profile

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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