Vale (NYSE:VALE) Earns “Sector Perform” Rating from Royal Bank of Canada

Vale (NYSE:VALE)‘s stock had its “sector perform” rating reiterated by equities research analysts at Royal Bank of Canada in a note issued to investors on Thursday, MarketBeat.com reports. They presently have a $11.00 price target on the basic materials company’s stock, down from their previous price target of $12.00. Royal Bank of Canada’s target price suggests a potential upside of 20.95% from the company’s current price.

Other research analysts have also issued reports about the stock. Jefferies Financial Group decreased their price target on shares of Vale from $14.00 to $11.00 and set a “buy” rating for the company in a report on Monday, January 6th. Wolfe Research upgraded Vale from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Scotiabank lowered their price objective on Vale from $14.00 to $13.00 and set a “sector perform” rating for the company in a research note on Monday, January 6th. StockNews.com initiated coverage on shares of Vale in a report on Wednesday, April 2nd. They set a “hold” rating for the company. Finally, Bank of America raised shares of Vale from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $11.00 to $11.50 in a report on Thursday, April 10th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $12.44.

Vale Price Performance

VALE opened at $9.10 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.58 and a current ratio of 0.91. Vale has a 1-year low of $8.06 and a 1-year high of $13.14. The company has a 50-day moving average of $9.58 and a 200-day moving average of $9.70. The company has a market capitalization of $41.28 billion, a P/E ratio of 6.32, a PEG ratio of 0.31 and a beta of 0.73.

Vale (NYSE:VALE) last released its earnings results on Wednesday, February 19th. The basic materials company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.36). Vale had a return on equity of 17.38% and a net margin of 16.15%. The firm had revenue of $10.12 billion for the quarter, compared to the consensus estimate of $10.03 billion. Equities analysts expect that Vale will post 1.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Vale

Several hedge funds and other institutional investors have recently bought and sold shares of VALE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Vale during the third quarter valued at approximately $1,126,000. SG Americas Securities LLC boosted its stake in shares of Vale by 39.4% during the 4th quarter. SG Americas Securities LLC now owns 349,851 shares of the basic materials company’s stock worth $3,103,000 after acquiring an additional 98,899 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Vale by 206.4% in the 4th quarter. IFP Advisors Inc now owns 2,877 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 1,938 shares during the last quarter. Truist Financial Corp lifted its holdings in shares of Vale by 18.2% during the fourth quarter. Truist Financial Corp now owns 33,704 shares of the basic materials company’s stock valued at $299,000 after purchasing an additional 5,189 shares during the last quarter. Finally, US Bancorp DE boosted its position in shares of Vale by 164.5% in the 4th quarter. US Bancorp DE now owns 148,857 shares of the basic materials company’s stock valued at $1,320,000 after purchasing an additional 92,570 shares during the period. 21.85% of the stock is currently owned by institutional investors.

Vale Company Profile

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.