Vale S.A. (NYSE:VALE – Get Rating) has earned a consensus rating of “Hold” from the fourteen analysts that are presently covering the company, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $17.35.
A number of research firms have recently issued reports on VALE. Itaú Unibanco cut shares of Vale to a “market perform” rating and set a $15.00 price objective on the stock. in a research report on Wednesday, August 17th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Vale from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Wednesday, June 29th. StockNews.com initiated coverage on shares of Vale in a research report on Tuesday, September 13th. They issued a “buy” rating on the stock. Clarkson Capital reaffirmed a “buy” rating on shares of Vale in a research report on Tuesday, June 14th. Finally, Royal Bank of Canada raised shares of Vale from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $15.00 to $16.00 in a research report on Monday, September 12th.
Hedge Funds Weigh In On Vale
Several hedge funds have recently modified their holdings of the company. CWM LLC increased its stake in shares of Vale by 44.9% during the 1st quarter. CWM LLC now owns 15,562 shares of the basic materials company’s stock worth $311,000 after purchasing an additional 4,823 shares during the last quarter. JFS Wealth Advisors LLC increased its stake in shares of Vale by 319.3% during the 1st quarter. JFS Wealth Advisors LLC now owns 2,059 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 1,568 shares during the last quarter. Veriti Management LLC increased its stake in shares of Vale by 60.8% during the 1st quarter. Veriti Management LLC now owns 79,002 shares of the basic materials company’s stock worth $1,579,000 after purchasing an additional 29,872 shares during the last quarter. Capital International Investors increased its stake in shares of Vale by 8.6% during the 4th quarter. Capital International Investors now owns 203,688,052 shares of the basic materials company’s stock worth $2,855,813,000 after purchasing an additional 16,114,413 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Vale by 112.8% during the 1st quarter. Bank of America Corp DE now owns 20,509,483 shares of the basic materials company’s stock worth $409,985,000 after purchasing an additional 10,873,651 shares during the last quarter. Institutional investors own 19.78% of the company’s stock.
Vale Stock Performance
Vale (NYSE:VALE – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. The company had revenue of $11.16 billion for the quarter, compared to analysts’ expectations of $11.67 billion. Vale had a net margin of 41.72% and a return on equity of 57.75%. As a group, analysts anticipate that Vale will post 3.11 EPS for the current year.
Vale Cuts Dividend
The company also recently announced a semi-annual dividend, which was paid on Friday, September 9th. Shareholders of record on Monday, August 15th were given a dividend of $0.3907 per share. The ex-dividend date of this dividend was Friday, August 12th. This represents a dividend yield of 21.9%. Vale’s dividend payout ratio is currently 19.12%.
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.
- Get a free copy of the StockNews.com research report on Vale (VALE)
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