Barclays PLC upgraded shares of Vale SA (NASDAQ:VALE) from an underweight rating to an equal weight rating in a research report report published on Wednesday morning. The brokerage currently has $5.11 price objective on the stock.
A number of other equities research analysts have also weighed in on VALE. JPMorgan Chase & Co. raised Vale SA from a neutral rating to an overweight rating and set a $7.00 price objective on the stock in a report on Monday, September 12th. RBC Capital Markets reissued a sector perform rating and set a $6.00 price target (up previously from $5.50) on shares of Vale SA in a research note on Thursday, September 8th. Royal Bank Of Canada boosted their price target on Vale SA from $5.50 to $6.00 and gave the stock a sector perform rating in a research note on Thursday, September 8th. Jefferies Group set a $6.00 target price on Vale SA and gave the company a hold rating in a research note on Tuesday, August 23rd. Finally, Morgan Stanley raised Vale SA from an underweight rating to an equal weight rating and upped their target price for the company from $4.80 to $6.20 in a research note on Tuesday, August 9th. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $5.75.
Vale SA (NASDAQ:VALE) opened at 5.42 on Wednesday. The firm’s market cap is $27.93 billion. The firm’s 50 day moving average price is $5.56 and its 200-day moving average price is $4.94. Vale SA has a one year low of $2.13 and a one year high of $6.26.
Several large investors have recently made changes to their positions in the stock. Cohen & Steers Inc. purchased a new stake in shares of Vale SA during the second quarter valued at approximately $2,103,000. Numeric Investors LLC bought a new position in Vale SA during the second quarter worth approximately $5,120,000. GFS Advisors LLC raised its position in Vale SA by 951.6% in the second quarter. GFS Advisors LLC now owns 132,815 shares of the company’s stock worth $672,000 after buying an additional 120,185 shares in the last quarter. Prince Street Capital Management LLC bought a new position in Vale SA during the second quarter worth approximately $1,227,000. Finally, Tyrian Investments L.P. bought a new position in Vale SA during the second quarter worth approximately $2,505,000.
Vale SA Company Profile
Vale SA (Vale) is a metals and mining company. The Company is also a producer of iron ore and iron ore pellets, and nickel. The Company’s segments include Ferrous minerals, Coal, Base metals, Fertilizers and Others. Its Ferrous minerals segment consists of the production and extraction of ferrous minerals, as iron ore, pellets and its logistic services, manganese and ferroalloys, and other ferrous products and services.
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