Vale (NYSE:VALE) Price Target Raised to $20.00

Vale (NYSE:VALEGet Rating) had its price objective boosted by stock analysts at Royal Bank of Canada from $19.50 to $20.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the basic materials company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 3.47% from the company’s previous close.

VALE has been the subject of several other reports. Deutsche Bank Aktiengesellschaft downgraded Vale from a “buy” rating to a “hold” rating and increased their price target for the stock from $20.00 to $22.00 in a report on Tuesday, April 5th. They noted that the move was a valuation call. HSBC upgraded shares of Vale from a “hold” rating to a “buy” rating and boosted their price target for the stock from $17.25 to $21.50 in a research note on Thursday, March 3rd. BNP Paribas upgraded Vale from a “neutral” rating to an “outperform” rating and set a $20.50 target price on the stock in a research report on Wednesday, February 9th. Jefferies Financial Group boosted their target price on shares of Vale from $20.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, March 9th. Finally, Zacks Investment Research raised shares of Vale from a “hold” rating to a “strong-buy” rating and set a $20.00 target price for the company in a report on Tuesday, February 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Vale currently has a consensus rating of “Buy” and an average price target of $20.04.

Shares of NYSE:VALE opened at $19.33 on Tuesday. Vale has a one year low of $11.16 and a one year high of $23.17. The stock has a market capitalization of $96.63 billion, a price-to-earnings ratio of 4.38, a PEG ratio of 0.62 and a beta of 0.90. The company has a 50-day simple moving average of $18.98 and a 200-day simple moving average of $15.70. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.18 and a current ratio of 1.47.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Clarity Financial LLC purchased a new stake in shares of Vale during the 1st quarter valued at about $200,000. Creative Financial Designs Inc. ADV grew its position in Vale by 222.7% in the first quarter. Creative Financial Designs Inc. ADV now owns 3,182 shares of the basic materials company’s stock valued at $64,000 after acquiring an additional 2,196 shares in the last quarter. Bennicas & Associates Inc. purchased a new stake in shares of Vale during the first quarter valued at approximately $1,089,000. Ritholtz Wealth Management lifted its position in shares of Vale by 81.7% during the first quarter. Ritholtz Wealth Management now owns 113,936 shares of the basic materials company’s stock worth $2,278,000 after purchasing an additional 51,227 shares in the last quarter. Finally, Reitz Capital Advisors LLC boosted its stake in shares of Vale by 15.7% in the first quarter. Reitz Capital Advisors LLC now owns 13,415 shares of the basic materials company’s stock valued at $268,000 after purchasing an additional 1,820 shares during the period.

About Vale (Get Rating)

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 Ferrous Minerals and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and other ferrous products; and provides related logistic services.

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Analyst Recommendations for Vale (NYSE:VALE)

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