Vale (NYSE:VALE) Sets New 12-Month Low at $11.07

Vale S.A. (NYSE:VALE)’s stock price reached a new 52-week low on Monday . The stock traded as low as $11.07 and last traded at $11.13, with a volume of 2165291 shares trading hands. The stock had previously closed at $11.26.

Analysts Set New Price Targets

Several brokerages recently issued reports on VALE. UBS Group upgraded Vale from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $13.00 to $15.00 in a research report on Tuesday, May 7th. Barclays raised their price objective on shares of Vale from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Vale from $18.00 to $16.00 and set a “hold” rating for the company in a research note on Thursday, April 4th. Bank of America reissued a “neutral” rating and issued a $13.00 price target (down previously from $20.00) on shares of Vale in a research note on Tuesday, April 9th. Finally, StockNews.com initiated coverage on Vale in a research report on Saturday, March 30th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.67.

Vale Trading Up 0.1 %

The company has a market cap of $50.10 billion, a P/E ratio of 6.17, a P/E/G ratio of 4.98 and a beta of 0.98. The business’s 50-day moving average price is $12.13 and its 200 day moving average price is $13.21. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.79 and a current ratio of 1.12.

Vale (NYSE:VALE) last issued its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). The firm had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.35 billion. Vale had a return on equity of 19.59% and a net margin of 18.72%. As a group, analysts expect that Vale S.A. will post 2.18 earnings per share for the current year.

Hedge Funds Weigh In On Vale

Institutional investors and hedge funds have recently modified their holdings of the business. Keynote Financial Services LLC acquired a new stake in Vale during the first quarter worth approximately $126,000. Cetera Advisors LLC increased its position in shares of Vale by 109.1% in the first quarter. Cetera Advisors LLC now owns 101,406 shares of the basic materials company’s stock worth $1,236,000 after purchasing an additional 52,906 shares during the period. Cetera Investment Advisers raised its stake in Vale by 316.9% in the first quarter. Cetera Investment Advisers now owns 217,250 shares of the basic materials company’s stock valued at $2,648,000 after purchasing an additional 165,141 shares in the last quarter. Virtu Financial LLC bought a new stake in Vale during the first quarter worth about $1,379,000. Finally, Wahed Invest LLC grew its stake in Vale by 45.0% during the first quarter. Wahed Invest LLC now owns 39,861 shares of the basic materials company’s stock worth $486,000 after buying an additional 12,377 shares in the last quarter. 21.85% of the stock is currently owned by institutional investors and hedge funds.

About Vale

Vale SA, together with its subsidiaries, produces and sells iron ore and iron ore pellets for use as raw materials in steelmaking in Brazil and internationally. The company operates through Iron Solutions and Energy Transition Materials segments. The Iron Solutions segment produces and extracts iron ore and pellets, manganese, and other ferrous products; and provides related logistic services.