Scotiabank Cuts Vale (NYSE:VALE) Price Target to $13.00

Vale (NYSE:VALE) had its target price lowered by Scotiabank from $14.00 to $13.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a sector perform rating on the basic materials company’s stock.

Several other analysts have also issued reports on VALE. StockNews.com started coverage on shares of Vale in a research report on Friday, December 13th. They set a “buy” rating for the company. UBS Group cut Vale from a “buy” rating to a “neutral” rating and dropped their target price for the company from $14.00 to $11.50 in a report on Monday, November 11th. Jefferies Financial Group decreased their target price on shares of Vale from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday. Wolfe Research downgraded Vale from a “peer perform” rating to an “underperform” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a report on Monday, September 23rd. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $13.89.

Vale Stock Down 0.7 %

Shares of VALE opened at $8.50 on Monday. Vale has a 1 year low of $8.42 and a 1 year high of $15.06. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.91 and a quick ratio of 0.58. The stock has a 50 day simple moving average of $9.60 and a two-hundred day simple moving average of $10.39. The firm has a market cap of $38.11 billion, a P/E ratio of 3.94, a P/E/G ratio of 0.27 and a beta of 0.92.

Vale (NYSE:VALE) last announced its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. Vale had a net margin of 22.59% and a return on equity of 21.07%. The firm had revenue of $9.55 billion during the quarter, compared to analyst estimates of $9.61 billion. During the same period in the previous year, the business posted $0.66 EPS. On average, analysts forecast that Vale will post 2.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Vale in the third quarter worth about $28,000. Point72 Hong Kong Ltd bought a new stake in shares of Vale in the 3rd quarter worth approximately $36,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Vale in the 3rd quarter worth approximately $79,000. Vienna Asset Management LLC bought a new position in Vale during the 3rd quarter valued at approximately $117,000. Finally, Phillips Wealth Planners LLC purchased a new position in Vale during the third quarter valued at $118,000. 21.85% of the stock is currently owned by institutional investors.

About Vale

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.