Vale SA (NYSE:VALE)’s share price gapped down prior to trading on Monday . The stock had previously closed at $13.13, but opened at $12.80. Vale shares last traded at $12.47, with a volume of 24253191 shares trading hands.
Several research firms have issued reports on VALE. TheStreet lowered Vale from a “b-” rating to a “c+” rating in a research note on Tuesday, March 13th. Jefferies Group reiterated a “hold” rating and issued a $14.50 target price on shares of Vale in a research note on Thursday, March 1st. Cowen reiterated a “market perform” rating and issued a $15.00 target price (up previously from $11.00) on shares of Vale in a research note on Thursday, March 1st. Credit Suisse Group reiterated a “buy” rating and issued a $16.00 target price on shares of Vale in a research note on Friday, March 2nd. Finally, BMO Capital Markets set a $11.00 price target on Vale and gave the stock a “hold” rating in a research note on Thursday, December 7th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $13.18.
The stock has a market capitalization of $66,785.95, a P/E ratio of 11.76 and a beta of 1.55. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.45 and a quick ratio of 1.15.
Several institutional investors have recently added to or reduced their stakes in the stock. Certified Advisory Corp acquired a new stake in shares of Vale during the fourth quarter worth about $116,000. Delek Group Ltd. acquired a new stake in shares of Vale during the fourth quarter worth about $805,000. Compagnie Lombard Odier SCmA lifted its holdings in shares of Vale by 19.5% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 101,073 shares of the basic materials company’s stock worth $1,238,000 after purchasing an additional 16,500 shares during the period. Schafer Cullen Capital Management Inc. acquired a new stake in shares of Vale during the fourth quarter worth about $8,511,000. Finally, Cullen Capital Management LLC acquired a new stake in shares of Vale during the fourth quarter worth about $9,991,000. 19.08% of the stock is owned by hedge funds and other institutional investors.
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Vale SA is a global producer of iron ore and iron ore pellets, key raw materials for steelmaking, and producer of nickel. The Company also produces copper, metallurgical and thermal coal, potash, phosphates and other fertilizer nutrients, manganese ore, ferroalloys, platinum group metals, gold, silver and cobalt.
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