Vale (NYSE:VALE) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Vale (NYSE:VALEFree Report) in a research note released on Monday, Benzinga reports. They currently have a $19.00 price objective on the basic materials company’s stock.

Several other brokerages have also recently weighed in on VALE. Deutsche Bank Aktiengesellschaft cut shares of Vale from a buy rating to a hold rating and dropped their price target for the company from $18.00 to $17.00 in a research report on Thursday, November 16th. Citigroup upgraded shares of Vale from a neutral rating to a buy rating and increased their price objective for the company from $14.00 to $16.00 in a research note on Monday, October 30th. StockNews.com upgraded shares of Vale from a buy rating to a strong-buy rating in a research note on Tuesday, February 6th. The Goldman Sachs Group upgraded shares of Vale from a neutral rating to a buy rating and increased their price objective for the company from $12.20 to $19.50 in a research note on Tuesday, November 21st. Finally, UBS Group increased their price objective on shares of Vale from $14.00 to $15.00 and gave the company a neutral rating in a research note on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $16.98.

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Vale Stock Performance

NYSE VALE opened at $13.43 on Monday. The company has a market capitalization of $60.19 billion, a price-to-earnings ratio of 6.42 and a beta of 1.00. Vale has a twelve month low of $12.22 and a twelve month high of $17.55. The stock has a fifty day simple moving average of $14.64 and a 200 day simple moving average of $14.04. The company has a quick ratio of 0.70, a current ratio of 1.08 and a debt-to-equity ratio of 0.39.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Mondrian Investment Partners LTD raised its position in Vale by 1.7% in the 3rd quarter. Mondrian Investment Partners LTD now owns 9,254,277 shares of the basic materials company’s stock worth $124,007,000 after purchasing an additional 150,918 shares during the period. Hartree Partners LP bought a new position in shares of Vale in the second quarter worth approximately $9,770,000. Van ECK Associates Corp lifted its position in Vale by 4.5% during the third quarter. Van ECK Associates Corp now owns 6,724,828 shares of the basic materials company’s stock valued at $90,112,000 after purchasing an additional 289,495 shares during the period. Banco Santander S.A. increased its holdings in Vale by 11.5% during the third quarter. Banco Santander S.A. now owns 1,187,208 shares of the basic materials company’s stock valued at $15,909,000 after buying an additional 122,217 shares during the last quarter. Finally, Virtu Financial LLC increased its holdings in Vale by 16.9% during the second quarter. Virtu Financial LLC now owns 28,665 shares of the basic materials company’s stock valued at $385,000 after buying an additional 4,153 shares during the last quarter. 16.90% of the stock is currently owned by hedge funds and other institutional investors.

About Vale

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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 Iron Solutions and Energy Transition Materials segments. The Iron Solutions segment produces and extracts iron ore and pellets, manganese, and other ferrous products; and provides related logistic services.

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Analyst Recommendations for Vale (NYSE:VALE)

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