Vale (NYSE:VALE) Releases Quarterly Earnings Results

Vale (NYSE:VALE) announced its quarterly earnings results on Thursday. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.10), FiscalAI reports. The business had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $10.47 billion. Vale had a net margin of 7.21% and a return on equity of 21.10%.

Vale Trading Up 0.1%

NYSE VALE traded up $0.02 during mid-day trading on Friday, reaching $15.01. 23,636,424 shares of the stock were exchanged, compared to its average volume of 29,762,580. Vale has a 1-year low of $9.36 and a 1-year high of $17.94. The business’s fifty day simple moving average is $15.21 and its 200 day simple moving average is $15.83. The stock has a market capitalization of $68.11 billion, a PE ratio of 22.43 and a beta of 0.46. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.79 and a current ratio of 1.24.

Institutional Investors Weigh In On Vale

A number of hedge funds and other institutional investors have recently made changes to their positions in VALE. Compound Planning Inc. lifted its position in Vale by 26.6% during the fourth quarter. Compound Planning Inc. now owns 96,652 shares of the basic materials company’s stock worth $1,259,000 after buying an additional 20,319 shares during the period. Caitlin John LLC grew its holdings in Vale by 85.4% in the 4th quarter. Caitlin John LLC now owns 4,310 shares of the basic materials company’s stock valued at $56,000 after buying an additional 1,985 shares during the period. Mackenzie Financial Corp grew its holdings in Vale by 15.5% in the 4th quarter. Mackenzie Financial Corp now owns 1,338,132 shares of the basic materials company’s stock valued at $17,495,000 after buying an additional 179,233 shares during the period. NewEdge Advisors LLC increased its stake in shares of Vale by 89.1% during the 4th quarter. NewEdge Advisors LLC now owns 85,751 shares of the basic materials company’s stock valued at $1,117,000 after acquiring an additional 40,403 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in shares of Vale by 70.6% during the 4th quarter. Empowered Funds LLC now owns 31,668 shares of the basic materials company’s stock valued at $413,000 after acquiring an additional 13,104 shares during the last quarter. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Vale in a research report on Wednesday, July 8th. The Goldman Sachs Group cut Vale from a “buy” rating to a “neutral” rating and lowered their target price for the company from $18.00 to $16.00 in a report on Monday. Wells Fargo & Company dropped their price target on Vale from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Thursday, July 9th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Vale in a report on Monday, June 15th. Finally, Bank of America upgraded Vale from a “neutral” rating to a “buy” rating and upped their price objective for the company from $18.00 to $19.00 in a research report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $16.15.

About Vale

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.