Vale (NYSE:VALE) Reaches New 12-Month Low – Here’s What Happened

Vale S.A. (NYSE:VALE) shares reached a new 52-week low on Friday . The stock traded as low as $9.64 and last traded at $9.73, with a volume of 8749328 shares. The stock had previously closed at $9.87.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. UBS Group lowered shares of Vale from a “buy” rating to a “neutral” rating and decreased their target price for the company from $14.00 to $11.50 in a report on Monday, November 11th. Morgan Stanley decreased their price objective on shares of Vale from $16.00 to $15.50 and set an “overweight” rating on the stock in a research note on Thursday, September 19th. Scotiabank lowered their price objective on shares of Vale from $16.00 to $14.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 20th. StockNews.com assumed coverage on Vale in a report on Friday, October 18th. They issued a “buy” rating on the stock. Finally, Wolfe Research cut Vale from a “peer perform” rating to an “underperform” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $15.13.

Vale Stock Down 0.1 %

The company has a current ratio of 0.91, a quick ratio of 0.58 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $44.20 billion, a P/E ratio of 4.56, a PEG ratio of 0.27 and a beta of 0.94. The stock has a 50 day moving average price of $10.69 and a 200 day moving average price of $10.94.

Vale (NYSE:VALE) last issued its earnings results on Thursday, October 24th. The basic materials company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. Vale had a return on equity of 21.07% and a net margin of 22.59%. The business had revenue of $9.55 billion during the quarter, compared to analysts’ expectations of $9.61 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. On average, research analysts anticipate that Vale S.A. will post 2.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in VALE. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Vale by 6.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,951,020 shares of the basic materials company’s stock worth $92,868,000 after buying an additional 468,432 shares during the period. Bridgewater Associates LP lifted its stake in Vale by 723.2% in the third quarter. Bridgewater Associates LP now owns 2,035,477 shares of the basic materials company’s stock valued at $23,774,000 after buying an additional 1,788,205 shares during the period. International Assets Investment Management LLC grew its stake in shares of Vale by 1,680.0% in the 3rd quarter. International Assets Investment Management LLC now owns 242,514 shares of the basic materials company’s stock valued at $2,833,000 after buying an additional 228,890 shares during the period. Banco Santander S.A. raised its position in shares of Vale by 32.9% during the third quarter. Banco Santander S.A. now owns 382,082 shares of the basic materials company’s stock worth $4,463,000 after purchasing an additional 94,585 shares during the period. Finally, Cetera Advisors LLC lifted its stake 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 valued at $1,236,000 after buying an additional 52,906 shares in the last quarter. Institutional investors own 21.85% of the company’s stock.

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.