Vale SA (NYSE:VALE) shares gapped down prior to trading on Wednesday . The stock had previously closed at $12.30, but opened at $12.04. Vale shares last traded at $12.00, with a volume of 13353296 shares trading hands.
A number of research analysts have recently issued reports on VALE shares. ValuEngine cut Vale from a “hold” rating to a “sell” rating in a research note on Monday, April 1st. Deutsche Bank reaffirmed a “hold” rating and set a $13.50 price objective (down from $15.00) on shares of Vale in a research note on Thursday, January 31st. BNP Paribas cut Vale from a “neutral” rating to an “underperform” rating in a research note on Thursday, January 24th. Royal Bank of Canada reduced their price objective on Vale to $9.00 and set an “underperform” rating on the stock in a research note on Monday, February 4th. Finally, Bank of America started coverage on Vale in a research note on Tuesday, February 5th. They set a “neutral” rating and a $13.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. Vale presently has a consensus rating of “Hold” and an average target price of $13.76.
The company has a market cap of $62.61 billion, a PE ratio of 6.26 and a beta of 1.10. The company has a quick ratio of 1.19, a current ratio of 1.21 and a debt-to-equity ratio of 0.37.
Several institutional investors have recently bought and sold shares of VALE. Renaissance Technologies LLC boosted its holdings in shares of Vale by 1,523.0% during the first quarter. Renaissance Technologies LLC now owns 27,332,549 shares of the basic materials company’s stock worth $356,963,000 after purchasing an additional 25,648,449 shares during the period. Norges Bank purchased a new stake in shares of Vale during the fourth quarter worth about $172,007,000. Hsbc Holdings PLC boosted its holdings in shares of Vale by 1,945.1% during the first quarter. Hsbc Holdings PLC now owns 11,439,001 shares of the basic materials company’s stock worth $149,393,000 after purchasing an additional 10,879,662 shares during the period. Baillie Gifford & Co. purchased a new stake in shares of Vale during the first quarter worth about $137,831,000. Finally, FIL Ltd boosted its holdings in shares of Vale by 145.9% during the first quarter. FIL Ltd now owns 17,602,739 shares of the basic materials company’s stock worth $229,892,000 after purchasing an additional 10,443,564 shares during the period. Institutional investors own 19.23% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Vale (VALE) Shares Gap Down to $12.04” was originally posted by Baseball Daily News and is the sole property of of Baseball Daily News. If you are viewing this news story on another website, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this news story can be accessed at https://www.baseballdailydigest.com/news/2019/05/17/vale-vale-shares-gap-down-to-12-04.html.
About Vale (NYSE: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. It operates through Ferrous Minerals, Coal, and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and others ferrous products and services; and provides related logistic services.
Featured Story: Roth IRA
Receive News & Ratings for Vale Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vale and related companies with MarketBeat.com's FREE daily email newsletter.