Vale (NYSE:VALE) Cut to “Sector Perform” at Royal Bank Of Canada

Vale (NYSE:VALE) was downgraded by equities researchers at Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Thursday. They currently have a $15.50 target price on the basic materials company’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 1.00% from the company’s previous close.

Several other equities research analysts also recently issued reports on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Vale in a research note on Monday, December 29th. Wells Fargo & Company restated a “cautious” rating and set a $15.50 target price on shares of Vale in a report on Monday, February 16th. Wall Street Zen cut shares of Vale from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Bank of America downgraded Vale from a “buy” rating to a “neutral” rating and increased their price target for the company from $17.00 to $18.00 in a report on Thursday, February 26th. Finally, Barclays raised their price objective on Vale from $15.50 to $16.50 and gave the company an “overweight” rating in a research report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Vale has a consensus rating of “Moderate Buy” and a consensus target price of $14.56.

Vale Price Performance

Vale stock opened at $15.35 on Thursday. The stock’s 50-day moving average is $15.75 and its 200-day moving average is $13.12. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.78 and a current ratio of 1.15. Vale has a 12 month low of $8.06 and a 12 month high of $17.72.

Vale (NYSE:VALE) last issued its earnings results on Thursday, February 12th. The basic materials company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($1.42). Vale had a return on equity of 20.16% and a net margin of 6.12%. Equities research analysts anticipate that Vale will post 1.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of VALE. NewEdge Advisors LLC boosted its stake in shares of Vale by 4.9% during the 1st quarter. NewEdge Advisors LLC now owns 79,400 shares of the basic materials company’s stock valued at $792,000 after buying an additional 3,704 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of Vale by 46.6% in the first quarter. Jones Financial Companies Lllp now owns 37,613 shares of the basic materials company’s stock worth $375,000 after buying an additional 11,964 shares during the last quarter. Empowered Funds LLC acquired a new stake in Vale in the first quarter valued at $171,000. Strs Ohio bought a new position in Vale during the 1st quarter valued at $117,000. Finally, Sivia Capital Partners LLC bought a new position in Vale during the 2nd quarter valued at $123,000. Institutional investors and hedge funds own 21.85% of the company’s stock.

Vale Company Profile

Vale SA is a Brazilian multinational mining company and one of the world’s largest producers of iron ore and iron ore pellets. In addition to iron ore, the company produces and sells a range of bulk commodities and metals, including nickel, copper, coal, manganese, ferroalloys and cobalt, and it participates in the fertilizer inputs market. Vale also operates extensive logistics assets — including rail, port and maritime logistics — that support its mining and export activities and provide services to third parties in some regions.

Headquartered in Brazil, Vale maintains a global operational footprint with mining, processing and shipping activities across the Americas, Africa, Asia and Oceania.