Vale (NYSE:VALE) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Vale (NYSE:VALE) had its price target hoisted by research analysts at JPMorgan Chase & Co. from $18.00 to $18.50 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 8.92% from the company’s current price.

Several other analysts also recently weighed in on the company. Morgan Stanley lifted their target price on Vale from $18.00 to $19.50 and gave the company an “overweight” rating in a research note on Thursday. UBS Group lifted their target price on Vale from $12.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, March 27th. Bank of America raised Vale from a “neutral” rating to a “buy” rating and lifted their target price for the company from $18.00 to $19.00 in a research note on Thursday, April 2nd. Barclays lifted their target price on Vale from $15.50 to $16.50 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Finally, Zacks Research cut Vale from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.91.

Vale Trading Up 2.0%

Shares of NYSE VALE opened at $16.99 on Friday. The company has a market cap of $77.10 billion, a price-to-earnings ratio of 30.33 and a beta of 0.53. Vale has a 12-month low of $8.93 and a 12-month high of $17.72. The company has a current ratio of 1.15, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53. The stock’s 50 day simple moving average is $16.01 and its 200 day simple moving average is $13.88.

Vale (NYSE:VALE) last announced its earnings results on Friday, February 13th. The basic materials company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.52 by ($1.42). The business had revenue of $11.06 billion for the quarter, compared to the consensus estimate of $10.86 billion. Vale had a net margin of 6.12% and a return on equity of 20.16%. Equities research analysts expect that Vale will post 1.85 EPS for the current year.

Insiders Place Their Bets

In related news, insider Parenti Grazielle Tallia bought 10,464 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were acquired at an average cost of $16.11 per share, for a total transaction of $168,575.04. Following the acquisition, the insider directly owned 10,464 shares of the company’s stock, valued at $168,575.04. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Sobrinho Sami Arap bought 12,990 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was bought at an average price of $16.11 per share, for a total transaction of $209,268.90. Following the completion of the acquisition, the vice president directly owned 12,990 shares in the company, valued at approximately $209,268.90. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of VALE. N.E.W. Advisory Services LLC purchased a new position in shares of Vale during the fourth quarter valued at $26,000. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna boosted its position in Vale by 128.3% during the fourth quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna now owns 2,055 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 1,155 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its position in Vale by 60.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 2,748 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 1,030 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new stake in Vale during the fourth quarter valued at $33,000. Finally, Triumph Capital Management acquired a new stake in Vale during the third quarter valued at $34,000. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Vale Company Profile

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.