Vale (NYSE:VALE) Issues Quarterly Earnings Results

Vale (NYSE:VALE) posted its quarterly earnings results on Wednesday. The basic materials company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.36), Zacks reports. The firm had revenue of $10.12 billion for the quarter, compared to analysts’ expectations of $10.03 billion. Vale had a net margin of 22.59% and a return on equity of 21.07%.

Vale Stock Performance

Vale stock traded up $0.02 during midday trading on Friday, hitting $10.17. 22,273,716 shares of the company were exchanged, compared to its average volume of 36,878,570. The firm has a market capitalization of $46.14 billion, a PE ratio of 4.71, a price-to-earnings-growth ratio of 0.30 and a beta of 0.91. Vale has a fifty-two week low of $8.38 and a fifty-two week high of $13.76. The business has a fifty day simple moving average of $9.09 and a two-hundred day simple moving average of $9.99. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.58 and a current ratio of 0.91.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on VALE. Barclays dropped their price target on Vale from $16.00 to $15.25 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Scotiabank dropped their price target on Vale from $14.00 to $13.00 and set a “sector perform” rating on the stock in a research note on Monday, January 6th. Morgan Stanley downgraded Vale from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $14.50 to $11.30 in a research note on Thursday, December 12th. StockNews.com started coverage on Vale in a research note on Friday, December 13th. They set a “buy” rating on the stock. Finally, Jefferies Financial Group lowered their target price on Vale from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $13.26.

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.