Vale (NYSE:VALE) Price Target Cut to $16.50

Vale (NYSE:VALE) had its price objective cut by analysts at JPMorgan Chase & Co. from $17.00 to $16.50 in a report issued on Wednesday, BenzingaRatingsTable reports. The firm currently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 36.14% from the stock’s previous close.

A number of other equities analysts also recently issued reports on VALE. ValuEngine upgraded Vale from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Macquarie upgraded Vale from a “neutral” rating to an “outperform” rating and set a $14.00 price objective for the company in a research report on Tuesday, September 10th. Barclays set a $12.00 price objective on Vale and gave the company a “buy” rating in a research report on Friday, October 11th. Clarkson Capital reaffirmed a “neutral” rating on shares of Vale in a research note on Monday, September 23rd. Finally, BNP Paribas upgraded Vale from an “underperform” rating to a “neutral” rating in a research report on Thursday, September 5th. Twelve equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $13.81.

VALE opened at $12.12 on Wednesday. The company has a fifty day moving average of $11.75 and a two-hundred day moving average of $12.11. The stock has a market capitalization of $62.05 billion, a price-to-earnings ratio of 6.55, a PEG ratio of 1.87 and a beta of 1.19. Vale has a fifty-two week low of $10.20 and a fifty-two week high of $15.45. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.03 and a current ratio of 1.38.

Vale (NYSE:VALE) last posted its earnings results on Thursday, October 24th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.19). Vale had a return on equity of 20.52% and a net margin of 9.79%. The firm had revenue of $10.22 billion for the quarter, compared to analysts’ expectations of $10.62 billion. On average, equities research analysts forecast that Vale will post 1.27 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC boosted its stake in shares of Vale by 62.5% in the third quarter. Parallel Advisors LLC now owns 2,492 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 958 shares during the last quarter. Pacer Advisors Inc. purchased a new position in Vale in the 2nd quarter valued at $50,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Vale in the 3rd quarter valued at $48,000. Stonebridge Capital Advisors LLC purchased a new position in Vale in the 2nd quarter valued at $95,000. Finally, Advisor Partners LLC acquired a new stake in Vale during the 2nd quarter worth $135,000. 18.08% of the stock is owned by institutional investors and hedge funds.

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; and provides related logistic services.

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Analyst Recommendations for Vale (NYSE:VALE)

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