Vale (NYSE:VALE) Cut to Hold at Zacks Research

Zacks Research lowered shares of Vale (NYSE:VALE) from a strong-buy rating to a hold rating in a report published on Thursday morning,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Vale in a research report on Monday, December 29th. The Goldman Sachs Group raised their price objective on Vale from $13.80 to $18.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Jefferies Financial Group set a $15.00 price objective on Vale and gave the company a “buy” rating in a research report on Monday, November 3rd. Wells Fargo & Company upped their target price on Vale from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 28th. Finally, Scotiabank cut Vale from a “sector outperform” rating to a “sector perform” rating and raised their target price for the stock from $14.00 to $15.00 in a research report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Vale has an average rating of “Moderate Buy” and a consensus price target of $13.73.

Vale Price Performance

VALE opened at $16.31 on Thursday. The business has a 50 day moving average of $14.17 and a 200-day moving average of $12.08. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.24 and a quick ratio of 0.82. Vale has a 1-year low of $8.06 and a 1-year high of $17.34.

Vale Dividend Announcement

The business also recently declared a special dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, December 12th were given a $0.2331 dividend. The ex-dividend date was Friday, December 12th. Vale’s dividend payout ratio is 67.69%.

Institutional Investors Weigh In On Vale

Several institutional investors and hedge funds have recently made changes to their positions in the company. Invesco Ltd. increased its position in shares of Vale by 1,534.8% during the 2nd quarter. Invesco Ltd. now owns 24,810,285 shares of the basic materials company’s stock worth $240,908,000 after purchasing an additional 23,292,629 shares in the last quarter. Mondrian Investment Partners LTD acquired a new position in Vale in the third quarter valued at about $123,532,000. Robeco Institutional Asset Management B.V. grew its stake in Vale by 77.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 20,809,302 shares of the basic materials company’s stock worth $271,145,000 after buying an additional 9,103,727 shares during the last quarter. SPX Gestao de Recursos Ltda increased its holdings in shares of Vale by 303.8% during the third quarter. SPX Gestao de Recursos Ltda now owns 11,068,403 shares of the basic materials company’s stock worth $120,203,000 after buying an additional 8,327,112 shares in the last quarter. Finally, Truist Financial Corp raised its stake in shares of Vale by 16,205.4% in the fourth quarter. Truist Financial Corp now owns 8,109,148 shares of the basic materials company’s stock valued at $105,662,000 after acquiring an additional 8,059,415 shares during the last quarter. Institutional investors and hedge funds 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.