JPMorgan Chase & Co. Has Lowered Expectations for Vale (NYSE:VALE) Stock Price

Vale (NYSE:VALE) had its price objective cut by research analysts at JPMorgan Chase & Co. from $15.00 to $13.50 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 29.66% from the stock’s current price.

VALE has been the topic of several other research reports. Barclays upped their target price on shares of Vale from $12.75 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 2nd. Wall Street Zen assumed coverage on shares of Vale in a report on Wednesday, May 7th. They set a “hold” rating for the company. UBS Group reissued a “neutral” rating and set a $10.00 price objective (up from $9.00) on shares of Vale in a report on Monday, August 4th. Clarkson Capital assumed coverage on shares of Vale in a report on Wednesday. They set a “buy” rating and a $12.00 price objective for the company. Finally, Scotiabank decreased their price objective on shares of Vale from $13.00 to $12.50 and set a “sector perform” rating for the company in a report on Tuesday, July 22nd. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.71.

Vale Trading Up 1.5%

Shares of NYSE VALE opened at $10.41 on Thursday. The firm’s 50 day moving average price is $10.02 and its 200-day moving average price is $9.69. The company has a market cap of $47.26 billion, a PE ratio of 8.47 and a beta of 0.79. Vale has a 52-week low of $8.06 and a 52-week high of $12.05. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.85 and a current ratio of 1.22.

Vale (NYSE:VALE) last issued its earnings results on Thursday, July 31st. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.16. The firm had revenue of $8.80 billion for the quarter, compared to the consensus estimate of $9.54 billion. Vale had a net margin of 14.23% and a return on equity of 18.14%. On average, equities research analysts expect that Vale will post 1.85 EPS for the current fiscal year.

Institutional Trading of Vale

Several large investors have recently added to or reduced their stakes in VALE. Banque Transatlantique SA bought a new stake in Vale during the first quarter valued at approximately $30,000. CENTRAL TRUST Co bought a new stake in Vale during the second quarter valued at approximately $34,000. GAMMA Investing LLC grew its position in Vale by 98.4% during the second quarter. GAMMA Investing LLC now owns 4,075 shares of the basic materials company’s stock valued at $40,000 after buying an additional 2,021 shares during the period. J.Safra Asset Management Corp bought a new stake in Vale during the first quarter valued at approximately $41,000. Finally, Golden State Wealth Management LLC grew its position in Vale by 193.0% during the first quarter. Golden State Wealth Management LLC now owns 4,119 shares of the basic materials company’s stock valued at $41,000 after buying an additional 2,713 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.