Scotiabank Issues Pessimistic Forecast for Vale (NYSE:VALE) Stock Price

Vale (NYSE:VALE) had its price objective dropped by equities researchers at Scotiabank from $14.00 to $13.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “sector perform” rating on the basic materials company’s stock. Scotiabank’s target price suggests a potential upside of 50.46% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Wolfe Research downgraded shares of Vale from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, October 9th. Jefferies Financial Group reduced their target price on Vale from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Monday. Morgan Stanley cut Vale from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $14.50 to $11.30 in a research note on Thursday, December 12th. JPMorgan Chase & Co. reduced their target price on Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a research note on Monday, September 23rd. Finally, StockNews.com initiated coverage on Vale in a research note on Friday, December 13th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Vale currently has a consensus rating of “Hold” and an average price target of $13.89.

Vale Trading Up 0.1 %

Shares of VALE stock traded up $0.01 during trading hours on Monday, hitting $8.64. 14,180,172 shares of the company were exchanged, compared to its average volume of 20,527,113. The firm has a market cap of $38.73 billion, a PE ratio of 4.00, a PEG ratio of 0.27 and a beta of 0.92. Vale has a 1 year low of $8.62 and a 1 year high of $15.30. The company has a quick ratio of 0.58, a current ratio of 0.91 and a debt-to-equity ratio of 0.39. The firm has a fifty day moving average of $9.74 and a 200 day moving average of $10.44.

Vale (NYSE:VALE) last posted 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. The firm had revenue of $9.55 billion during the quarter, compared to the consensus estimate of $9.61 billion. Vale had a net margin of 22.59% and a return on equity of 21.07%. During the same quarter in the prior year, the company earned $0.66 EPS. Analysts expect that Vale will post 2.08 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Vale in the 3rd quarter worth about $28,000. Point72 Hong Kong Ltd purchased a new position in Vale in the 3rd quarter worth about $36,000. Wilmington Savings Fund Society FSB purchased a new position in Vale in the 3rd quarter worth about $79,000. Vienna Asset Management LLC purchased a new position in Vale in the 3rd quarter worth about $117,000. Finally, Phillips Wealth Planners LLC purchased a new position in Vale in the 3rd quarter worth about $118,000. 21.85% of the stock is 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.