Vale (NYSE:VALE) Price Target Raised to $18.00 at JPMorgan Chase & Co.
by Mitch Edgeman · The Markets DailyVale (NYSE:VALE – Get Free Report) had its price objective lifted by equities researchers at JPMorgan Chase & Co. from $17.50 to $18.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 19.55% from the company’s current price.
A number of other analysts also recently weighed in on the stock. Wall Street Zen downgraded shares of Vale from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Vale in a research note on Monday, December 29th. Wells Fargo & Company reiterated a “cautious” rating and set a $15.50 price objective on shares of Vale in a research report on Monday, February 16th. UBS Group lifted their target price on shares of Vale from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Monday, December 8th. Finally, Scotiabank restated a “sector perform” rating and issued a $16.50 target price on shares of Vale in a report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Vale currently has an average rating of “Moderate Buy” and a consensus price target of $14.87.
Vale Stock Up 1.3%
Shares of VALE opened at $15.06 on Thursday. The company has a market capitalization of $68.34 billion, a PE ratio of 26.89 and a beta of 0.52. Vale has a 12 month low of $8.06 and a 12 month high of $17.72. The stock’s 50-day moving average price is $15.93 and its two-hundred day moving average price is $13.44. The company has a current ratio of 1.15, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53.
Vale (NYSE:VALE – Get Free Report) last issued its quarterly earnings results on Thursday, February 12th. The basic materials company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.52 by ($1.42). Vale had a net margin of 6.12% and a return on equity of 20.16%. The company had revenue of $11.06 billion during the quarter, compared to analyst estimates of $10.86 billion. On average, analysts anticipate that Vale will post 1.85 EPS for the current year.
Hedge Funds Weigh In On Vale
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC raised its stake in Vale by 4.9% during the 1st quarter. NewEdge Advisors LLC now owns 79,400 shares of the basic materials company’s stock worth $792,000 after buying an additional 3,704 shares during the period. Jones Financial Companies Lllp grew its stake in Vale by 46.6% in the first quarter. Jones Financial Companies Lllp now owns 37,613 shares of the basic materials company’s stock valued at $375,000 after acquiring an additional 11,964 shares during the period. Empowered Funds LLC acquired a new stake in Vale in the first quarter valued at approximately $171,000. Strs Ohio bought a new stake in shares of Vale during the first quarter valued at approximately $117,000. Finally, Sivia Capital Partners LLC bought a new stake in shares of Vale during the second quarter valued at approximately $123,000. Institutional investors own 21.85% of the company’s stock.
About Vale
Vale SA is a Brazilian multinational mining company and one of the world’s largest producers of iron ore and iron ore pellets. In addition to iron ore, the company produces and sells a range of bulk commodities and metals, including nickel, copper, coal, manganese, ferroalloys and cobalt, and it participates in the fertilizer inputs market. Vale also operates extensive logistics assets — including rail, port and maritime logistics — that support its mining and export activities and provide services to third parties in some regions.
Headquartered in Brazil, Vale maintains a global operational footprint with mining, processing and shipping activities across the Americas, Africa, Asia and Oceania.