Vale (NYSE:VALE) Price Target Cut to $11.00 by Analysts at Jefferies Financial Group

Vale (NYSE:VALE) had its target price reduced by Jefferies Financial Group from $14.00 to $11.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

VALE has been the subject of several other reports. Scotiabank dropped their target price on Vale from $16.00 to $14.00 and set a “sector perform” rating for the company in a report on Wednesday, November 20th. UBS Group lowered Vale from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $14.00 to $11.50 in a research note on Monday, November 11th. StockNews.com began coverage on shares of Vale in a report on Friday, December 13th. They set a “buy” rating for the company. Wolfe Research lowered shares of Vale from a “peer perform” rating to an “underperform” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Vale presently has a consensus rating of “Hold” and an average target price of $13.89.

Vale Stock Performance

Shares of NYSE VALE opened at $8.62 on Monday. The stock’s 50-day moving average is $9.70 and its 200 day moving average is $10.42. The stock has a market cap of $38.64 billion, a price-to-earnings ratio of 3.99, a P/E/G ratio of 0.27 and a beta of 0.92. Vale has a 1-year low of $8.60 and a 1-year high of $15.30. The company has a current ratio of 0.91, a quick ratio of 0.58 and a debt-to-equity ratio of 0.39.

Vale (NYSE:VALE) last posted its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.41 by $0.15. Vale had a net margin of 22.59% and a return on equity of 21.07%. The firm had revenue of $9.55 billion for the quarter, compared to the consensus estimate of $9.61 billion. During the same period last year, the firm posted $0.66 earnings per share. On average, sell-side analysts anticipate that Vale will post 2.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Vale

Several hedge funds have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Vale during the third quarter worth about $28,000. Point72 Hong Kong Ltd bought a new stake in shares of Vale in the 3rd quarter worth approximately $36,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Vale in the 3rd quarter worth approximately $79,000. Vienna Asset Management LLC bought a new position in Vale during the 3rd quarter valued at approximately $117,000. Finally, Phillips Wealth Planners LLC purchased a new position in Vale during the third quarter valued at $118,000. 21.85% of the stock is currently owned by institutional investors.

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.