Vale S.A. (NYSE:VALE) has received a consensus recommendation of “Buy” from the thirteen ratings firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $17.61.
Several brokerages recently issued reports on VALE. BNP Paribas reissued an “underperform” rating and set a $18.30 price target on shares of Vale in a report on Thursday, March 18th. Bank of America reaffirmed a “buy” rating on shares of Vale in a research report on Tuesday, March 16th. Exane BNP Paribas lowered Vale from an “outperform” rating to an “underperform” rating in a research report on Friday, March 12th. Barclays lifted their target price on shares of Vale from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, February 8th. Finally, Zacks Investment Research lowered Vale from a “buy” rating to a “hold” rating and set a $20.00 target price on the stock. in a research note on Monday.
Several hedge funds have recently bought and sold shares of VALE. RWC Asset Advisors US LLC bought a new stake in shares of Vale during the 4th quarter valued at approximately $196,270,000. Menora Mivtachim Holdings LTD. bought a new position in Vale in the 4th quarter valued at approximately $93,010,000. Phoenix Holdings Ltd. acquired a new stake in Vale in the fourth quarter valued at approximately $52,256,000. TORQ CAPITAL MANAGEMENT HK Ltd bought a new stake in shares of Vale during the fourth quarter worth $43,805,000. Finally, Oaktree Capital Management LP increased its holdings in shares of Vale by 55.2% during the fourth quarter. Oaktree Capital Management LP now owns 6,756,996 shares of the basic materials company’s stock worth $113,247,000 after buying an additional 2,403,524 shares in the last quarter. 19.02% of the stock is owned by hedge funds and other institutional investors.
The firm also recently announced a Variable dividend, which was paid on Monday, March 22nd. Shareholders of record on Monday, March 8th were given a $0.745 dividend. This represents a yield of 2.5%. The ex-dividend date of this dividend was Friday, March 5th. Vale’s dividend payout ratio is presently 53.75%.
Vale Company Profile
Vale SA, together with its subsidiaries, produces and sells iron ore and iron ore pellets for use as raw materials in steelmaking in Brazil and internationally. The company operates through Ferrous Minerals, Base Metals, and Coal segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and other ferrous products; and provides related logistic services.
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