Vale (NYSE:VALE) Receives Equal Weight Rating from Morgan Stanley

Vale (NYSE:VALE)‘s stock had its “equal weight” rating reaffirmed by equities researchers at Morgan Stanley in a research note issued on Wednesday, Marketbeat reports. They presently have a $16.50 price objective on the basic materials company’s stock, down from their previous price objective of $19.50. Morgan Stanley’s target price would suggest a potential upside of 12.28% from the stock’s current price.

Other analysts also recently issued research reports about the stock. UBS Group lifted their price target on shares of Vale from $12.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, March 27th. Bank of America raised Vale from a “neutral” rating to a “buy” rating and increased their price target for the stock from $18.00 to $19.00 in a research report on Thursday, April 2nd. Wells Fargo & Company decreased their price objective on Vale from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, April 30th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Vale in a research note on Monday, June 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Vale in a research report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Vale presently has a consensus rating of “Moderate Buy” and an average price target of $16.62.

Vale Stock Down 2.6%

NYSE:VALE opened at $14.70 on Wednesday. The company has a market cap of $66.70 billion, a price-to-earnings ratio of 21.93 and a beta of 0.46. Vale has a twelve month low of $9.36 and a twelve month high of $17.94. The company has a current ratio of 1.24, a quick ratio of 0.79 and a debt-to-equity ratio of 0.48. The stock has a fifty day simple moving average of $15.89 and a 200-day simple moving average of $15.69.

Vale (NYSE:VALE) last announced its quarterly earnings data on Tuesday, April 28th. The basic materials company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). The company had revenue of $9.26 billion for the quarter, compared to the consensus estimate of $9.53 billion. Vale had a net margin of 7.21% and a return on equity of 21.10%. Analysts anticipate that Vale will post 2.15 EPS for the current year.

Institutional Trading of Vale

Several large investors have recently bought and sold shares of the stock. N.E.W. Advisory Services LLC acquired a new position in shares of Vale in the 4th quarter valued at $26,000. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna increased its holdings in shares of Vale by 128.3% in the fourth quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna now owns 2,055 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 1,155 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in shares of Vale during the fourth quarter worth about $33,000. Cornerstone Planning Group LLC boosted its position in Vale by 15,360.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 3,092 shares of the basic materials company’s stock valued at $40,000 after buying an additional 3,072 shares during the last quarter. Finally, Triumph Capital Management acquired a new position in Vale in the 3rd quarter worth approximately $34,000. Hedge funds and other institutional investors 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.