Vale (NYSE:VALE) Price Target Cut to $15.50 by Analysts at Morgan Stanley

Vale (NYSE:VALEFree Report) had its price target reduced by Morgan Stanley from $18.00 to $15.50 in a report issued on Friday, Benzinga reports. They currently have an overweight rating on the basic materials company’s stock.

Several other research analysts have also weighed in on VALE. UBS Group raised Vale from a neutral rating to a buy rating and increased their target price for the stock from $13.00 to $15.00 in a research report on Tuesday, May 7th. Barclays raised their price objective on Vale from $16.00 to $17.00 and gave the stock an overweight rating in a report on Tuesday, April 16th. Bank of America reiterated a neutral rating and set a $13.00 target price (down previously from $20.00) on shares of Vale in a report on Tuesday, April 9th. StockNews.com started coverage on shares of Vale in a report on Saturday, March 30th. They issued a buy rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Vale from $18.00 to $16.00 and set a hold rating on the stock in a research report on Thursday, April 4th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Vale presently has an average rating of Moderate Buy and an average target price of $16.55.

View Our Latest Research Report on Vale

Vale Trading Down 0.4 %

Shares of VALE stock opened at $11.25 on Friday. The firm’s 50-day simple moving average is $12.08 and its 200-day simple moving average is $13.14. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.12 and a quick ratio of 0.79. Vale has a 1-year low of $11.02 and a 1-year high of $16.08. The firm has a market cap of $50.43 billion, a P/E ratio of 6.22, a PEG ratio of 4.99 and a beta of 0.98.

Vale (NYSE:VALEGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.03). The company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.35 billion. Vale had a return on equity of 19.59% and a net margin of 18.72%. As a group, equities analysts forecast that Vale will post 2.18 EPS for the current year.

Institutional Investors Weigh In On Vale

A number of hedge funds have recently bought and sold shares of the business. Richardson Financial Services Inc. bought a new stake in Vale in the fourth quarter valued at about $31,000. Whittier Trust Co. grew its position in shares of Vale by 423.1% in the 4th quarter. Whittier Trust Co. now owns 1,951 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 1,578 shares in the last quarter. Rakuten Securities Inc. bought a new stake in shares of Vale in the 4th quarter valued at approximately $31,000. GAMMA Investing LLC acquired a new stake in shares of Vale during the 4th quarter valued at approximately $32,000. Finally, Versant Capital Management Inc acquired a new stake in shares of Vale during the 1st quarter valued at approximately $26,000. Institutional investors and hedge funds own 21.85% of the company’s stock.

About Vale

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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 Iron Solutions and Energy Transition Materials segments. The Iron Solutions segment produces and extracts iron ore and pellets, manganese, and other ferrous products; and provides related logistic services.

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