Vale (NYSE:VALE) Sets New 52-Week Low at $10.95

Vale S.A. (NYSE:VALE)’s stock price reached a new 52-week low on Thursday . The company traded as low as $10.95 and last traded at $10.98, with a volume of 16306492 shares changing hands. The stock had previously closed at $11.21.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Bank of America restated a “neutral” rating and issued a $13.00 price target (down previously from $20.00) on shares of Vale in a research report on Tuesday, April 9th. Wolfe Research lowered shares of Vale from an “outperform” rating to a “peer perform” rating in a report on Wednesday. Morgan Stanley cut their price target on shares of Vale from $18.00 to $15.50 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Deutsche Bank Aktiengesellschaft lowered their price objective on Vale from $18.00 to $16.00 and set a “hold” rating for the company in a research report on Thursday, April 4th. Finally, BNP Paribas upgraded Vale from an “underperform” rating to a “neutral” rating in a research report on Friday, June 21st. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Vale currently has an average rating of “Moderate Buy” and an average target price of $16.85.

Vale Trading Down 2.4 %

The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.79 and a current ratio of 1.12. The business has a 50 day moving average of $11.76 and a two-hundred day moving average of $12.66. The firm has a market capitalization of $49.04 billion, a price-to-earnings ratio of 6.15, a P/E/G ratio of 3.84 and a beta of 0.96.

Vale (NYSE:VALE) last issued its earnings results on Wednesday, April 24th. The basic materials company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Vale had a return on equity of 19.59% and a net margin of 18.72%. The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.35 billion. Equities analysts predict that Vale S.A. will post 2.17 EPS for the current year.

Institutional Investors Weigh In On Vale

A number of institutional investors and hedge funds have recently made changes to their positions in VALE. Wellington Management Group LLP boosted its stake in Vale by 22.0% during the 4th quarter. Wellington Management Group LLP now owns 12,315,171 shares of the basic materials company’s stock valued at $195,319,000 after purchasing an additional 2,224,756 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of Vale by 4.1% during the first quarter. Lazard Asset Management LLC now owns 12,269,261 shares of the basic materials company’s stock valued at $149,561,000 after buying an additional 485,702 shares during the last quarter. RWC Asset Advisors US LLC boosted its position in shares of Vale by 0.7% during the fourth quarter. RWC Asset Advisors US LLC now owns 10,837,103 shares of the basic materials company’s stock valued at $171,876,000 after buying an additional 75,726 shares during the last quarter. Oaktree Capital Management LP grew its holdings in Vale by 8.1% during the fourth quarter. Oaktree Capital Management LP now owns 9,399,887 shares of the basic materials company’s stock worth $149,082,000 after buying an additional 705,520 shares in the last quarter. Finally, SPX Gestao de Recursos Ltda raised its position in Vale by 1,422.7% in the 4th quarter. SPX Gestao de Recursos Ltda now owns 8,586,062 shares of the basic materials company’s stock valued at $136,175,000 after buying an additional 8,022,188 shares during the last quarter. Institutional investors and hedge funds own 21.85% of the company’s stock.

About Vale

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.