Vale SA (NYSE:VALE) has received a consensus recommendation of “Buy” from the nineteen ratings firms that are presently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $13.18.
VALE has been the topic of several research analyst reports. Credit Suisse Group upgraded Vale from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $11.32 to $15.00 in a research report on Tuesday, December 5th. Morgan Stanley upgraded Vale from an “equal weight” rating to an “overweight” rating and set a $12.00 price objective on the stock in a research report on Monday, November 27th. Royal Bank of Canada set a $15.00 price objective on Vale and gave the company a “buy” rating in a research report on Tuesday, December 5th. Macquarie upgraded Vale from a “neutral” rating to an “outperform” rating in a research report on Tuesday, November 21st. Finally, Zacks Investment Research upgraded Vale from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a research report on Monday, February 19th.
Several large investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in shares of Vale by 7.8% in the fourth quarter. BlackRock Inc. now owns 106,225,211 shares of the basic materials company’s stock worth $1,299,134,000 after buying an additional 7,698,364 shares in the last quarter. Orbis Allan Gray Ltd increased its stake in Vale by 21.5% during the fourth quarter. Orbis Allan Gray Ltd now owns 20,438,611 shares of the basic materials company’s stock worth $249,964,000 after acquiring an additional 3,617,688 shares during the last quarter. Acadian Asset Management LLC increased its stake in Vale by 43.7% during the fourth quarter. Acadian Asset Management LLC now owns 20,382,633 shares of the basic materials company’s stock worth $249,279,000 after acquiring an additional 6,199,051 shares during the last quarter. OppenheimerFunds Inc. bought a new stake in Vale during the fourth quarter worth approximately $184,795,000. Finally, Oaktree Capital Management LP increased its stake in Vale by 4.1% during the fourth quarter. Oaktree Capital Management LP now owns 9,411,396 shares of the basic materials company’s stock worth $115,102,000 after acquiring an additional 373,403 shares during the last quarter. Institutional investors own 19.08% of the company’s stock.
The company also recently announced a None dividend, which will be paid on Thursday, March 22nd. Investors of record on Tuesday, December 26th will be given a $0.098 dividend. The ex-dividend date is Friday, December 22nd. Vale’s dividend payout ratio is currently 21.01%.
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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.
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