Vale S.A. (NYSE:VALE – Get Free Report)’s stock price dropped 2% on Friday after Morgan Stanley lowered their price target on the stock from $16.00 to $15.50. Morgan Stanley currently has an overweight rating on the stock. Vale traded as low as $10.55 and last traded at $10.55. Approximately 2,982,794 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 26,238,063 shares. The stock had previously closed at $10.76.
VALE has been the topic of several other reports. UBS Group dropped their price objective on Vale from $15.00 to $14.50 and set a “buy” rating on the stock in a report on Friday, July 5th. BNP Paribas raised Vale from an “underperform” rating to a “neutral” rating in a report on Friday, June 21st. Finally, Wolfe Research downgraded Vale from an “outperform” rating to a “peer perform” rating in a report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.72.
Read Our Latest Stock Analysis on Vale
Institutional Trading of Vale
Vale Price Performance
The business has a fifty day moving average price of $10.52 and a 200 day moving average price of $11.52. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.08 and a quick ratio of 0.73. The company has a market capitalization of $46.58 billion, a price-to-earnings ratio of 5.74, a price-to-earnings-growth ratio of 3.48 and a beta of 0.93.
Vale (NYSE:VALE – Get Free Report) last released its earnings results on Thursday, July 25th. The basic materials company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.38 by $0.05. Vale had a net margin of 23.07% and a return on equity of 22.23%. The firm had revenue of $9.92 billion for the quarter, compared to analysts’ expectations of $9.97 billion. On average, research analysts expect that Vale S.A. will post 2.13 earnings per share for the current fiscal year.
Vale Increases Dividend
The company also recently announced a semi-annual dividend, which was paid on Wednesday, September 11th. Investors of record on Monday, August 5th were issued a dividend of $0.3698 per share. This is a boost from Vale’s previous semi-annual dividend of $0.32. The ex-dividend date of this dividend was Monday, August 5th. This represents a yield of 12.1%. Vale’s payout ratio is presently 64.09%.
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.
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