Analysts Set Vale S.A. (NYSE:VALE) Price Target at $13.26

Shares of Vale S.A. (NYSE:VALE) have been assigned an average rating of “Hold” from the ten brokerages that are presently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $13.26.

Several equities analysts have recently issued reports on VALE shares. Wolfe Research upgraded Vale from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Jefferies Financial Group cut their target price on Vale from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Barclays cut their target price on Vale from $16.00 to $15.25 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Scotiabank cut their target price on Vale from $14.00 to $13.00 and set a “sector perform” rating for the company in a research report on Monday, January 6th. Finally, Morgan Stanley downgraded Vale from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $14.50 to $11.30 in a research report on Thursday, December 12th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. FMR LLC raised its stake in Vale by 28.8% during the 4th quarter. FMR LLC now owns 47,163,226 shares of the basic materials company’s stock valued at $418,338,000 after purchasing an additional 10,557,888 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Vale by 20.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 33,995,398 shares of the basic materials company’s stock valued at $301,541,000 after purchasing an additional 5,775,590 shares during the period. Lazard Asset Management LLC raised its stake in Vale by 49.3% during the 4th quarter. Lazard Asset Management LLC now owns 18,238,313 shares of the basic materials company’s stock valued at $161,773,000 after purchasing an additional 6,023,144 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Vale by 3,692.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 18,200,000 shares of the basic materials company’s stock valued at $212,576,000 after purchasing an additional 17,720,100 shares during the period. Finally, Fisher Asset Management LLC raised its stake in Vale by 10.7% during the 3rd quarter. Fisher Asset Management LLC now owns 17,404,942 shares of the basic materials company’s stock valued at $203,290,000 after purchasing an additional 1,682,544 shares during the period. Institutional investors own 21.85% of the company’s stock.

Vale Stock Performance

Shares of NYSE VALE opened at $9.81 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.58 and a debt-to-equity ratio of 0.39. The stock has a 50 day simple moving average of $9.08 and a 200-day simple moving average of $9.99. The company has a market cap of $44.50 billion, a PE ratio of 4.54, a P/E/G ratio of 0.30 and a beta of 0.91. Vale has a 12-month low of $8.38 and a 12-month high of $13.76.

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.