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

Vale (NYSE:VALE) had its target price lowered by investment analysts at Jefferies Financial Group from $14.00 to $11.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 27.46% from the company’s previous close.

VALE has been the subject of several other reports. Morgan Stanley cut Vale from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $14.50 to $11.30 in a report on Thursday, December 12th. StockNews.com started coverage on shares of Vale in a report on Friday, December 13th. They issued a “buy” rating on the stock. Scotiabank lowered their price target on Vale from $16.00 to $14.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 20th. Barclays reduced their price objective on shares of Vale from $16.00 to $15.25 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Finally, Wolfe Research downgraded shares of Vale from a “peer perform” rating to an “underperform” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.01.

Vale Price Performance

VALE opened at $8.63 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.91 and a quick ratio of 0.58. The stock has a market capitalization of $38.69 billion, a P/E ratio of 4.00, a price-to-earnings-growth ratio of 0.27 and a beta of 0.92. The company’s 50 day simple moving average is $9.74 and its 200-day simple moving average is $10.44. Vale has a one year low of $8.62 and a one year high of $15.52.

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

Institutional Trading of Vale

Institutional investors and hedge funds have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Vale by 6.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,951,020 shares of the basic materials company’s stock valued at $92,868,000 after buying an additional 468,432 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Vale during the third quarter worth $1,126,000. Bank of Montreal Can lifted its stake in Vale by 274.4% in the third quarter. Bank of Montreal Can now owns 162,453 shares of the basic materials company’s stock valued at $1,915,000 after acquiring an additional 119,061 shares during the last quarter. Bridgewater Associates LP grew its position in shares of Vale by 723.2% in the 3rd quarter. Bridgewater Associates LP now owns 2,035,477 shares of the basic materials company’s stock valued at $23,774,000 after acquiring an additional 1,788,205 shares during the period. Finally, Polar Asset Management Partners Inc. acquired a new position in shares of Vale during the 3rd quarter worth about $1,422,000. Institutional investors 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.