Vale (NYSE:VALE) PT Raised to $17.00 at Barclays

Vale (NYSE:VALE) had its price target upped by stock analysts at Barclays from $16.00 to $17.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the basic materials company’s stock. Barclays‘s target price would suggest a potential upside of 43.52% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $19.00 target price on shares of Vale in a report on Monday, February 12th. JPMorgan Chase & Co. cut their target price on shares of Vale from $20.50 to $20.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. StockNews.com initiated coverage on shares of Vale in a report on Saturday, March 30th. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Vale from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Thursday, April 4th. Finally, Bank of America reissued a “neutral” rating and issued a $13.00 target price (down previously from $20.00) on shares of Vale in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.67.

Vale Stock Up 1.5 %

NYSE:VALE opened at $11.85 on Tuesday. The company has a market capitalization of $53.10 billion, a price-to-earnings ratio of 6.47, a price-to-earnings-growth ratio of 3.38 and a beta of 0.97. Vale has a one year low of $11.52 and a one year high of $16.08. The stock has a 50-day simple moving average of $12.70 and a 200 day simple moving average of $13.78. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.96 and a current ratio of 1.28.

Vale (NYSE:VALE) last posted its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.48). The firm had revenue of $13.05 billion during the quarter, compared to analyst estimates of $12.95 billion. Vale had a return on equity of 20.00% and a net margin of 19.10%. During the same quarter last year, the business posted $0.82 earnings per share. Sell-side analysts predict that Vale will post 2.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Vale

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in Vale by 18.7% in the first quarter. BlackRock Inc. now owns 72,165,728 shares of the basic materials company’s stock worth $1,138,775,000 after buying an additional 11,393,498 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Vale by 57.8% during the first quarter. Bank of America Corp DE now owns 22,763,893 shares of the basic materials company’s stock valued at $359,214,000 after buying an additional 8,334,786 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Vale by 2,830.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,286,695 shares of the basic materials company’s stock valued at $353,469,000 after buying an additional 21,526,055 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Vale by 21.1% during the third quarter. Invesco Ltd. now owns 17,752,878 shares of the basic materials company’s stock valued at $237,889,000 after buying an additional 3,092,376 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Vale by 3.4% during the first quarter. State Street Corp now owns 13,799,196 shares of the basic materials company’s stock valued at $217,752,000 after buying an additional 452,290 shares in the last quarter. Institutional investors own 21.85% of the company’s stock.

About Vale

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.