Vale (NYSE:VALE) Stock Rating Lowered by Wolfe Research

Vale (NYSE:VALE) was downgraded by Wolfe Research from a “peer perform” rating to an “underperform” rating in a research report issued to clients and investors on Wednesday, MarketBeat reports.

Several other research firms also recently commented on VALE. Morgan Stanley reduced their price objective on Vale from $16.00 to $15.50 and set an “overweight” rating for the company in a research note on Thursday, September 19th. BNP Paribas raised shares of Vale from an “underperform” rating to a “neutral” rating in a research report on Friday, June 21st. JPMorgan Chase & Co. reduced their price target on shares of Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a research note on Monday, September 23rd. Finally, UBS Group dropped their target price on Vale from $15.00 to $14.50 and set a “buy” rating for the company in a research report on Friday, July 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $16.17.

Vale Stock Performance

NYSE VALE opened at $10.99 on Wednesday. Vale has a fifty-two week low of $9.66 and a fifty-two week high of $16.08. The firm has a market capitalization of $49.25 billion, a P/E ratio of 4.86, a PEG ratio of 0.30 and a beta of 0.93. The stock has a 50-day simple moving average of $10.62 and a two-hundred day simple moving average of $11.40. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.73 and a current ratio of 1.08.

Vale (NYSE:VALE) last announced its quarterly earnings results on Thursday, July 25th. The basic materials company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.05. Vale had a return on equity of 22.23% and a net margin of 23.07%. The firm had revenue of $9.92 billion during the quarter, compared to analyst estimates of $9.97 billion. On average, equities analysts forecast that Vale will post 2.06 earnings per share for the current year.

Institutional Trading of Vale

A number of hedge funds and other institutional investors have recently made changes to their positions in VALE. Versant Capital Management Inc purchased a new position in shares of Vale during the first quarter worth about $26,000. Pacifica Partners Inc. purchased a new stake in shares of Vale in the 2nd quarter worth about $27,000. Richardson Financial Services Inc. purchased a new position in shares of Vale during the 4th quarter worth approximately $31,000. Lowe Wealth Advisors LLC purchased a new stake in shares of Vale in the second quarter valued at $45,000. Finally, Founders Capital Management boosted its stake in shares of Vale by 111.1% during the 1st quarter. Founders Capital Management now owns 3,800 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 21.85% of the company’s stock.

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 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.