Vale SA (NYSE:VALE) – Stock analysts at Jefferies Financial Group reduced their FY2020 earnings per share (EPS) estimates for shares of Vale in a report issued on Wednesday, March 13th. Jefferies Financial Group analyst C. Lafemina now forecasts that the basic materials company will post earnings per share of $1.87 for the year, down from their prior forecast of $1.88. Jefferies Financial Group has a “Hold” rating and a $14.00 price target on the stock. Jefferies Financial Group also issued estimates for Vale’s FY2021 earnings at $2.06 EPS.
Other equities analysts have also recently issued research reports about the stock. ValuEngine cut shares of Vale from a “buy” rating to a “hold” rating in a research note on Friday, November 23rd. Bank of America assumed coverage on shares of Vale in a research note on Tuesday, February 5th. They issued a “neutral” rating and a $13.00 price objective on the stock. Exane BNP Paribas cut shares of Vale from a “neutral” rating to an “underperform” rating in a report on Thursday, January 24th. Macquarie cut shares of Vale from an “outperform” rating to a “neutral” rating in a report on Monday, January 28th. Finally, Goldman Sachs Group assumed coverage on shares of Vale in a report on Tuesday, February 19th. They issued a “neutral” rating for the company. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $13.90.
Hedge funds have recently bought and sold shares of the stock. Hartree Partners LP acquired a new stake in shares of Vale during the third quarter worth approximately $4,526,000. SG Americas Securities LLC boosted its holdings in shares of Vale by 2,582.3% during the fourth quarter. SG Americas Securities LLC now owns 672,370 shares of the basic materials company’s stock worth $8,869,000 after purchasing an additional 647,303 shares during the period. SPX Equities Gestao de Recursos Ltda boosted its holdings in shares of Vale by 84.2% during the fourth quarter. SPX Equities Gestao de Recursos Ltda now owns 295,660 shares of the basic materials company’s stock worth $3,900,000 after purchasing an additional 135,172 shares during the period. Putnam Investments LLC boosted its holdings in shares of Vale by 375.2% during the third quarter. Putnam Investments LLC now owns 561,250 shares of the basic materials company’s stock worth $8,328,000 after purchasing an additional 443,150 shares during the period. Finally, Clearbridge Investments LLC boosted its holdings in shares of Vale by 10.6% during the third quarter. Clearbridge Investments LLC now owns 1,070,071 shares of the basic materials company’s stock worth $15,880,000 after purchasing an additional 102,964 shares during the period. Institutional investors and hedge funds own 19.53% of the company’s stock.
Vale Company Profile
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. It operates through Ferrous Minerals, Coal, and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and others ferrous products and services, as well as engages in the provision of related railroad, port, and terminal logistics services.
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