Vale SA (NYSE:VALE) was upgraded by equities researchers at Vetr from a “buy” rating to a “strong-buy” rating in a report released on Tuesday. The brokerage presently has a $8.23 price objective on the stock. Vetr‘s price objective indicates a potential upside of 44.89% from the stock’s previous close.
Several other research firms have also recently issued reports on VALE. Morgan Stanley raised shares of Vale SA from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $4.80 to $6.20 in a research report on Tuesday, August 9th. Royal Bank Of Canada lifted their price objective on shares of Vale SA from $5.50 to $6.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 8th. JPMorgan Chase & Co. raised shares of Vale SA from a “neutral” rating to an “overweight” rating in a research report on Monday, September 12th. Finally, Barclays PLC raised shares of Vale SA from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, September 21st. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Vale SA has an average rating of “Hold” and a consensus price target of $5.14.
Shares of Vale SA (NYSE:VALE) opened at 5.68 on Tuesday. The firm’s market capitalization is $29.27 billion. The firm’s 50-day moving average price is $5.45 and its 200 day moving average price is $5.13. Vale SA has a 12 month low of $2.13 and a 12 month high of $6.26.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. purchased a new position in shares of Vale SA during the first quarter worth about $21,892,000. Capital Growth Management LP purchased a new position in shares of Vale SA during the first quarter worth about $13,051,000. LPL Financial LLC raised its position in shares of Vale SA by 4.2% in the first quarter. LPL Financial LLC now owns 321,495 shares of the company’s stock worth $1,328,000 after buying an additional 12,910 shares during the period. Finally, Scotia Capital Inc. raised its position in shares of Vale SA by 13.1% in the first quarter. Scotia Capital Inc. now owns 63,280 shares of the company’s stock worth $267,000 after buying an additional 7,320 shares during the period. Institutional investors and hedge funds own 8.63% of the company’s stock.
About Vale SA
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.
To view Vetr’s full report, visit Vetr’s official website.
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