A number of other research analysts also recently commented on VALE. Goldman Sachs Group Inc. began coverage on shares of Vale SA in a research note on Thursday, June 9th. They set a neutral rating and a $4.40 price objective on the stock. Morgan Stanley upgraded shares of Vale SA from an underweight rating to an equal weight rating and increased their price objective for the company from $4.80 to $6.20 in a research note on Tuesday, August 9th. Sanford C. Bernstein reissued an outperform rating on shares of Vale SA in a report on Thursday, September 22nd. Royal Bank Of Canada increased their target price on shares of Vale SA from $5.50 to $6.00 and gave the stock a sector perform rating in a report on Thursday, September 8th. Finally, Zacks Investment Research raised shares of Vale SA from a hold rating to a strong-buy rating and set a $5.25 target price on the stock in a report on Monday, June 20th. Seven research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $5.77.
Vale SA (NASDAQ:VALE) opened at 5.66 on Thursday. The stock’s market cap is $29.17 billion. The company’s 50 day moving average is $5.50 and its 200-day moving average is $5.03. Vale SA has a 52-week low of $2.13 and a 52-week high of $6.26.
Several hedge funds have recently added to or reduced their stakes in VALE. Krasney Financial LLC purchased a new stake in Vale SA during the second quarter worth $104,000. Charlemagne Capital Ltd. boosted its stake in Vale SA by 26.2% in the second quarter. Charlemagne Capital Ltd. now owns 22,010 shares of the company’s stock worth $112,000 after buying an additional 4,573 shares during the period. Wetherby Asset Management Inc. boosted its stake in Vale SA by 9.4% in the second quarter. Wetherby Asset Management Inc. now owns 23,752 shares of the company’s stock worth $120,000 after buying an additional 2,047 shares during the period. Glenmede Trust Co. NA boosted its stake in Vale SA by 4.4% in the second quarter. Glenmede Trust Co. NA now owns 27,050 shares of the company’s stock worth $136,000 after buying an additional 1,131 shares during the period. Finally, RNC Capital Management LLC purchased a new stake in Vale SA during the second quarter worth $142,000.
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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