Vale (NYSE:VALE) Lowered to “Underperform” at Wolfe Research

Vale (NYSE:VALE) was downgraded by Wolfe Research from a “peer perform” rating to an “underperform” rating in a report released on Wednesday, Marketbeat Ratings reports.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. cut their target price on Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a research note on Monday, September 23rd. Morgan Stanley lowered their target price on shares of Vale from $16.00 to $15.50 and set an “overweight” rating for the company in a report on Thursday, September 19th. UBS Group cut their target price on shares of Vale from $15.00 to $14.50 and set a “buy” rating on the stock in a research note on Friday, July 5th. Finally, BNP Paribas raised shares of Vale from an “underperform” rating to a “neutral” rating in a research report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.17.

Vale Stock Down 4.0 %

NYSE:VALE opened at $11.06 on Wednesday. The stock’s fifty day moving average is $10.62 and its two-hundred day moving average is $11.40. Vale has a 52 week low of $9.66 and a 52 week high of $16.08. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $49.56 billion, a price-to-earnings ratio of 6.11, a price-to-earnings-growth ratio of 3.52 and a beta of 0.93.

Vale (NYSE:VALE) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.05. The business had revenue of $9.92 billion for the quarter, compared to analyst estimates of $9.97 billion. Vale had a net margin of 23.07% and a return on equity of 22.23%. Research analysts anticipate that Vale will post 2.14 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Legacy Capital Group California Inc. boosted its position in shares of Vale by 6.9% during the second quarter. Legacy Capital Group California Inc. now owns 17,932 shares of the basic materials company’s stock worth $200,000 after purchasing an additional 1,154 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Vale by 1.9% during the second quarter. Bank of New York Mellon Corp now owns 62,076 shares of the basic materials company’s stock worth $693,000 after purchasing an additional 1,187 shares during the period. Inspire Advisors LLC increased its position in Vale by 6.8% during the 1st quarter. Inspire Advisors LLC now owns 19,277 shares of the basic materials company’s stock worth $235,000 after buying an additional 1,226 shares during the period. IFG Advisory LLC raised its stake in Vale by 6.1% in the 2nd quarter. IFG Advisory LLC now owns 22,702 shares of the basic materials company’s stock worth $254,000 after purchasing an additional 1,296 shares in the last quarter. Finally, QRG Capital Management Inc. raised its position in shares of Vale by 3.0% in the first quarter. QRG Capital Management Inc. now owns 48,109 shares of the basic materials company’s stock valued at $586,000 after buying an additional 1,396 shares in the last quarter. 21.85% of the stock is 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.