Vale (VALE) Rating Increased to Outperform at Credit Suisse Group

Vale (NYSE:VALE) was upgraded by equities research analysts at Credit Suisse Group from a “neutral” rating to an “outperform” rating in a report issued on Tuesday. The firm currently has a $15.00 price objective on the basic materials company’s stock, up from their previous price objective of $11.32. Credit Suisse Group’s price objective indicates a potential upside of 36.36% from the company’s previous close.

VALE has been the topic of a number of other reports. Zacks Investment Research raised shares of Vale from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Wednesday, October 18th. Macquarie raised shares of Vale from a “neutral” rating to an “outperform” rating in a research report on Tuesday, November 21st. Morgan Stanley assumed coverage on shares of Vale in a research report on Monday, September 25th. They set a “weight” rating on the stock. TheStreet raised shares of Vale from a “c+” rating to a “b-” rating in a research report on Wednesday, November 8th. Finally, Cowen set a $11.00 target price on shares of Vale and gave the stock a “hold” rating in a research report on Thursday, October 19th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Vale currently has an average rating of “Buy” and an average target price of $10.87.

Shares of Vale (NYSE:VALE) opened at $11.00 on Tuesday. The firm has a market cap of $58,336.20, a PE ratio of 7.45, a P/E/G ratio of 0.72 and a beta of 1.57. Vale has a 1 year low of $7.47 and a 1 year high of $11.72. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.86 and a quick ratio of 1.47.

Vale (NYSE:VALE) last issued its earnings results on Thursday, October 26th. The basic materials company reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.15. The business had revenue of $9.05 billion for the quarter. Vale had a net margin of 26.25% and a return on equity of 21.71%. equities research analysts predict that Vale will post 1.21 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. Raymond James Trust N.A. lifted its stake in shares of Vale by 8.4% during the second quarter. Raymond James Trust N.A. now owns 11,560 shares of the basic materials company’s stock worth $101,000 after buying an additional 893 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Vale during the second quarter worth $107,000. Wedbush Securities Inc. lifted its stake in shares of Vale by 0.7% during the second quarter. Wedbush Securities Inc. now owns 12,991 shares of the basic materials company’s stock worth $114,000 after buying an additional 84 shares during the period. Baldwin Investment Management LLC lifted its stake in shares of Vale by 0.3% during the second quarter. Baldwin Investment Management LLC now owns 13,701 shares of the basic materials company’s stock worth $120,000 after buying an additional 36 shares during the period. Finally, Private Advisor Group LLC acquired a new stake in shares of Vale during the second quarter worth $127,000. Institutional investors and hedge funds own 20.37% of the company’s stock.

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Vale Company Profile

Vale SA is a global producer of iron ore and iron ore pellets, key raw materials for steelmaking, and producer of nickel. The Company also produces copper, metallurgical and thermal coal, potash, phosphates and other fertilizer nutrients, manganese ore, ferroalloys, platinum group metals, gold, silver and cobalt.

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