Shares of Vale SA (NYSE:VALE) gapped up prior to trading on Friday . The stock had previously closed at $11.98, but opened at $12.36. Vale shares last traded at $12.91, with a volume of 47706863 shares traded.
A number of analysts have recently weighed in on VALE shares. Royal Bank of Canada raised Vale from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $11.00 to $14.50 in a research report on Monday, November 20th. Credit Suisse Group reissued a “buy” rating and issued a $16.00 price objective on shares of Vale in a research report on Wednesday, January 24th. UBS Group raised Vale from a “hold” rating to a “buy” rating in a research report on Tuesday, November 28th. Morgan Stanley raised Vale from an “equal weight” rating to an “overweight” rating and set a $12.00 price objective for the company in a research report on Monday, November 27th. Finally, Goldman Sachs Group reissued a “neutral” rating on shares of Vale in a research report on Monday, October 23rd. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $11.79.
The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $70,170.00, a PE ratio of 10.01, a P/E/G ratio of 0.83 and a beta of 1.67.
Institutional investors and hedge funds have recently modified their holdings of the business. Rational Advisors LLC acquired a new stake in Vale during the 4th quarter worth about $122,000. KCS Wealth Advisory acquired a new stake in Vale during the 4th quarter worth about $125,000. GWM Advisors LLC acquired a new stake in Vale during the 4th quarter worth about $149,000. Verition Fund Management LLC acquired a new stake in Vale during the 2nd quarter worth about $107,000. Finally, Quadrant Private Wealth Management LLC acquired a new stake in Vale during the 4th quarter worth about $176,000. 19.03% of the stock is owned by institutional investors.
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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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