Vale (NYSE:VALE) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Vale (NYSE:VALE) had its target price increased by equities researchers at Morgan Stanley from $18.00 to $19.50 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the basic materials company’s stock. Morgan Stanley’s price objective suggests a potential upside of 16.40% from the company’s previous close.

Several other analysts also recently commented on VALE. The Goldman Sachs Group raised their target price on Vale from $13.80 to $18.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Wall Street Zen upgraded Vale from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. JPMorgan Chase & Co. raised their target price on Vale from $17.50 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, March 26th. Bank of America upgraded Vale from a “neutral” rating to a “buy” rating and raised their target price for the company from $18.00 to $19.00 in a research note on Thursday, April 2nd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Vale in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.87.

Vale Stock Performance

VALE stock opened at $16.75 on Thursday. The stock has a 50-day moving average price of $16.00 and a 200-day moving average price of $13.80. Vale has a 1-year low of $8.06 and a 1-year high of $17.72. The company has a current ratio of 1.15, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53. The firm has a market cap of $76.04 billion, a PE ratio of 29.92 and a beta of 0.53.

Vale (NYSE:VALE) last posted its quarterly earnings data on Friday, February 13th. The basic materials company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.52 by ($1.42). Vale had a return on equity of 20.16% and a net margin of 6.12%.The business had revenue of $11.06 billion during the quarter, compared to the consensus estimate of $10.86 billion. As a group, equities research analysts expect that Vale will post 1.85 earnings per share for the current year.

Insider Transactions at Vale

In related news, insider Parenti Grazielle Tallia purchased 10,464 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was acquired at an average price of $16.11 per share, for a total transaction of $168,575.04. Following the purchase, the insider owned 10,464 shares of the company’s stock, valued at approximately $168,575.04. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Sobrinho Sami Arap purchased 12,990 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were bought at an average price of $16.11 per share, with a total value of $209,268.90. Following the purchase, the vice president directly owned 12,990 shares in the company, valued at approximately $209,268.90. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing.

Hedge Funds Weigh In On Vale

A number of hedge funds have recently added to or reduced their stakes in the stock. Capital World Investors boosted its stake in Vale by 58.2% during the 4th quarter. Capital World Investors now owns 89,322,261 shares of the basic materials company’s stock valued at $1,163,896,000 after purchasing an additional 32,864,929 shares during the last quarter. GQG Partners LLC boosted its stake in Vale by 42.4% during the 4th quarter. GQG Partners LLC now owns 65,132,572 shares of the basic materials company’s stock valued at $848,677,000 after purchasing an additional 19,397,396 shares during the last quarter. Capital International Investors boosted its stake in Vale by 4.3% during the 3rd quarter. Capital International Investors now owns 46,215,387 shares of the basic materials company’s stock valued at $501,715,000 after purchasing an additional 1,910,266 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Vale by 2,239.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 41,596,000 shares of the basic materials company’s stock worth $541,996,000 after buying an additional 39,818,066 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Vale by 16.7% in the 3rd quarter. Invesco Ltd. now owns 28,961,848 shares of the basic materials company’s stock worth $314,526,000 after buying an additional 4,151,563 shares during the last quarter. 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.