Vale S.A. (NYSE:VALE) Receives $13.26 Consensus Target Price from Brokerages

Shares of Vale S.A. (NYSE:VALE) have earned a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the company, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $13.26.

A number of analysts have recently issued reports on VALE shares. Jefferies Financial Group dropped their price target on Vale from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Morgan Stanley lowered shares of Vale from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $14.50 to $11.30 in a research report on Thursday, December 12th. UBS Group lowered shares of Vale from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $14.00 to $11.50 in a report on Monday, November 11th. StockNews.com began coverage on shares of Vale in a research report on Friday, December 13th. They set a “buy” rating on the stock. Finally, Scotiabank cut their target price on shares of Vale from $14.00 to $13.00 and set a “sector perform” rating for the company in a research report on Monday, January 6th.

Vale Price Performance

NYSE:VALE opened at $10.17 on Friday. Vale has a 52-week low of $8.38 and a 52-week high of $13.76. The stock has a fifty day moving average of $9.09 and a 200 day moving average of $9.99. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.58 and a current ratio of 0.91. The firm has a market capitalization of $46.14 billion, a price-to-earnings ratio of 4.71, a P/E/G ratio of 0.30 and a beta of 0.91.

Hedge Funds Weigh In On Vale

Large investors have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Vale by 6.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,951,020 shares of the basic materials company’s stock valued at $92,868,000 after buying an additional 468,432 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Vale during the 3rd quarter worth approximately $1,126,000. Bank of Montreal Can increased its stake in Vale by 274.4% in the 3rd quarter. Bank of Montreal Can now owns 162,453 shares of the basic materials company’s stock worth $1,915,000 after purchasing an additional 119,061 shares during the period. Bridgewater Associates LP increased its stake in Vale by 723.2% in the 3rd quarter. Bridgewater Associates LP now owns 2,035,477 shares of the basic materials company’s stock worth $23,774,000 after purchasing an additional 1,788,205 shares during the period. Finally, Polar Asset Management Partners Inc. bought a new stake in Vale in the third quarter valued at approximately $1,422,000. Hedge funds and other institutional investors own 21.85% of the company’s stock.

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.