Vale (NYSE:VALE) Downgraded by StockNews.com

Vale (NYSE:VALEGet Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday.

Several other brokerages also recently commented on VALE. Zacks Investment Research raised Vale from a “hold” rating to a “strong-buy” rating and set a $20.00 target price on the stock in a report on Tuesday, February 15th. Royal Bank of Canada upped their price target on Vale from $19.50 to $20.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Morgan Stanley lowered Vale from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $19.00 to $22.00 in a report on Wednesday, March 23rd. Jefferies Financial Group boosted their price objective on Vale from $20.00 to $23.00 and gave the stock a “hold” rating in a report on Wednesday, March 9th. Finally, Exane BNP Paribas raised Vale from a “neutral” rating to an “outperform” rating and set a $20.50 target price for the company in a report on Wednesday, February 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Vale has a consensus rating of “Hold” and an average target price of $20.04.

Shares of VALE traded down $0.80 during mid-day trading on Thursday, reaching $17.65. The company’s stock had a trading volume of 28,011,565 shares, compared to its average volume of 36,041,805. The stock has a market cap of $88.23 billion, a P/E ratio of 4.00, a PEG ratio of 0.62 and a beta of 0.90. The business has a 50-day simple moving average of $19.02 and a two-hundred day simple moving average of $15.76. The company has a current ratio of 1.47, a quick ratio of 1.18 and a debt-to-equity ratio of 0.45. Vale has a 1-year low of $11.16 and a 1-year high of $23.17.

Vale (NYSE:VALEGet Rating) last announced its quarterly earnings data on Thursday, February 24th. The basic materials company reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.57. Vale had a return on equity of 73.17% and a net margin of 40.73%. The firm had revenue of $13.11 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Research analysts anticipate that Vale will post 4.5 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in VALE. Cornerstone Advisory LLC purchased a new position in shares of Vale during the fourth quarter worth approximately $28,000. D Orazio & Associates Inc. purchased a new position in Vale during the third quarter valued at approximately $31,000. Patriot Financial Group Insurance Agency LLC increased its holdings in Vale by 120.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 2,193 shares of the basic materials company’s stock valued at $31,000 after buying an additional 1,200 shares during the period. AdvisorNet Financial Inc boosted its stake in Vale by 60.8% in the first quarter. AdvisorNet Financial Inc now owns 1,864 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 705 shares in the last quarter. Finally, Johnson Financial Group Inc. boosted its stake in Vale by 70.5% in the fourth quarter. Johnson Financial Group Inc. now owns 2,911 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 1,204 shares in the last quarter.

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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