Vale (NYSE:VALE) Price Target Cut to $14.00 by Analysts at Scotiabank

Vale (NYSE:VALE) had its price objective lowered by Scotiabank from $16.00 to $14.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a sector perform rating on the basic materials company’s stock.

A number of other analysts have also weighed in on VALE. JPMorgan Chase & Co. lowered their target price on Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a report on Monday, September 23rd. StockNews.com assumed coverage on Vale in a research note on Friday, October 18th. They set a “buy” rating for the company. UBS Group lowered Vale from a “buy” rating to a “neutral” rating and cut their target price for the company from $14.00 to $11.50 in a research note on Monday, November 11th. Wolfe Research lowered shares of Vale from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley lowered their price target on shares of Vale from $16.00 to $15.50 and set an “overweight” rating on the stock in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.13.

Vale Stock Performance

VALE stock opened at $10.01 on Wednesday. Vale has a 1-year low of $9.66 and a 1-year high of $16.08. The business has a 50-day moving average price of $10.76 and a 200 day moving average price of $11.04. The company has a market capitalization of $44.88 billion, a P/E ratio of 4.63, a PEG ratio of 0.27 and a beta of 0.94. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.91 and a quick ratio of 0.58.

Vale (NYSE:VALE) last posted its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.56 EPS for the quarter, beating 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 business had revenue of $9.55 billion during the quarter, compared to analyst estimates of $9.61 billion. During the same quarter in the previous year, the business posted $0.66 EPS. As a group, equities research analysts forecast that Vale will post 2.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Vale by 3,692.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 18,200,000 shares of the basic materials company’s stock worth $212,576,000 after buying an additional 17,720,100 shares during the period. SPX Gestao de Recursos Ltda raised its stake in Vale by 60.6% in the 2nd quarter. SPX Gestao de Recursos Ltda now owns 21,969,937 shares of the basic materials company’s stock worth $245,404,000 after acquiring an additional 8,288,112 shares during the last quarter. Holocene Advisors LP acquired a new stake in Vale during the 3rd quarter worth about $80,300,000. Itau Unibanco Holding S.A. grew its stake in Vale by 123.4% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 12,059,814 shares of the basic materials company’s stock valued at $140,859,000 after purchasing an additional 6,660,933 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of Vale by 395.3% in the second quarter. Marshall Wace LLP now owns 7,152,069 shares of the basic materials company’s stock valued at $79,889,000 after purchasing an additional 5,707,969 shares during the period. Institutional investors and hedge funds 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.