Vale (NYSE:VALE) Price Target Lowered to $13.00 at Scotiabank

Vale (NYSE:VALE) had its target price trimmed by Scotiabank from $14.00 to $13.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a sector perform rating on the basic materials company’s stock.

A number of other research firms also recently weighed in on VALE. Jefferies Financial Group decreased their price target on Vale from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Monday. Barclays decreased their target price on shares of Vale from $16.00 to $15.25 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. JPMorgan Chase & Co. cut their price target on shares of 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 downgraded shares of Vale from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $14.50 to $11.30 in a research report on Thursday, December 12th. Finally, UBS Group cut shares of Vale from a “buy” rating to a “neutral” rating and dropped their target price for the company from $14.00 to $11.50 in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Vale has an average rating of “Hold” and a consensus price target of $13.89.

Vale Stock Performance

Shares of VALE stock opened at $8.62 on Monday. Vale has a 12 month low of $8.60 and a 12 month high of $15.30. The company’s fifty day simple moving average is $9.70 and its 200-day simple moving average is $10.42. The firm has a market cap of $38.64 billion, a PE ratio of 3.99, a P/E/G ratio of 0.27 and a beta of 0.92. The company has a quick ratio of 0.58, a current ratio of 0.91 and a debt-to-equity ratio of 0.39.

Vale (NYSE:VALE) last posted its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. The company had revenue of $9.55 billion during the quarter, compared to the consensus estimate of $9.61 billion. Vale had a net margin of 22.59% and a return on equity of 21.07%. During the same period in the prior year, the business posted $0.66 EPS. Equities research analysts expect that Vale will post 2.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in VALE. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Vale in the third quarter valued at about $28,000. Point72 Hong Kong Ltd acquired a new position in shares of Vale during the 3rd quarter worth approximately $36,000. Wilmington Savings Fund Society FSB bought a new position in shares of Vale during the third quarter worth approximately $79,000. Vienna Asset Management LLC acquired a new stake in shares of Vale in the third quarter valued at approximately $117,000. Finally, Phillips Wealth Planners LLC bought a new stake in shares of Vale in the third quarter valued at approximately $118,000. Institutional investors own 21.85% of the company’s stock.

Vale Company Profile

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.