Vale (NYSE:VALE) Raised to Buy at Jefferies Financial Group

Vale (NYSE:VALEGet Rating) was upgraded by equities researchers at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued on Tuesday, The Fly reports.

VALE has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft cut Vale from a “buy” rating to a “hold” rating and raised their target price for the stock from $20.00 to $22.00 in a research report on Tuesday, April 5th. They noted that the move was a valuation call. Zacks Investment Research raised Vale from a “hold” rating to a “strong-buy” rating and set a $20.00 target price for the company in a research report on Tuesday, February 15th. Royal Bank of Canada cut their price objective on Vale from $20.00 to $18.00 and set a “sector perform” rating for the company in a report on Monday, April 25th. Exane BNP Paribas upgraded Vale from a “neutral” rating to an “outperform” rating and set a $20.50 price objective for the company in a report on Wednesday, February 9th. Finally, BNP Paribas upgraded Vale from a “neutral” rating to an “outperform” rating and set a $20.50 price objective for the company in a report on Wednesday, February 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Vale presently has an average rating of “Buy” and an average target price of $19.88.

Shares of Vale stock opened at $18.54 on Tuesday. The stock has a market cap of $92.68 billion, a PE ratio of 4.36, a price-to-earnings-growth ratio of 1.12 and a beta of 0.96. The business has a fifty day simple moving average of $17.81 and a 200-day simple moving average of $16.59. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.45. Vale has a 12 month low of $11.16 and a 12 month high of $23.17.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in Vale by 196.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 808,063 shares of the basic materials company’s stock valued at $16,154,000 after buying an additional 535,058 shares in the last quarter. Kestra Private Wealth Services LLC raised its holdings in Vale by 6.4% during the first quarter. Kestra Private Wealth Services LLC now owns 11,695 shares of the basic materials company’s stock valued at $234,000 after buying an additional 702 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Vale by 584.7% during the first quarter. EverSource Wealth Advisors LLC now owns 11,695 shares of the basic materials company’s stock valued at $233,000 after buying an additional 9,987 shares in the last quarter. Advisory Services Network LLC raised its holdings in Vale by 23.5% during the first quarter. Advisory Services Network LLC now owns 20,080 shares of the basic materials company’s stock valued at $402,000 after buying an additional 3,818 shares in the last quarter. Finally, Toroso Investments LLC raised its holdings in Vale by 658.9% during the first quarter. Toroso Investments LLC now owns 448,337 shares of the basic materials company’s stock valued at $8,962,000 after buying an additional 389,262 shares in the last quarter. Institutional investors own 23.37% of the company’s stock.

Vale Company Profile (Get Rating)

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 Ferrous Minerals and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and other ferrous products; and provides related logistic services.

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