BMO Capital Markets Analysts Give Vale (VALE) a $13.00 Price Target

BMO Capital Markets set a $13.00 target price on Vale (NYSE:VALE) in a report issued on Tuesday morning, TipRanks reports. The brokerage currently has a hold rating on the basic materials company’s stock.

Other equities research analysts have also recently issued reports about the stock. ValuEngine cut shares of Vale from a hold rating to a sell rating in a report on Monday, April 1st. Barclays set a $14.00 target price on shares of Vale and gave the company a buy rating in a report on Friday, April 12th. Zacks Investment Research cut shares of Vale from a buy rating to a hold rating in a report on Monday, May 6th. Bank of America assumed coverage on shares of Vale in a report on Tuesday, February 5th. They issued a neutral rating and a $13.00 target price on the stock. Finally, Exane BNP Paribas cut shares of Vale from a neutral rating to an underperform rating in a report on Thursday, January 24th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $13.76.

Shares of NYSE:VALE opened at $11.59 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 1.19 and a debt-to-equity ratio of 0.37. The stock has a market cap of $62.61 billion, a price-to-earnings ratio of 6.26 and a beta of 1.10. Vale has a one year low of $10.89 and a one year high of $16.13.

Vale (NYSE:VALE) last issued its earnings results on Wednesday, March 27th. The basic materials company reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.11. The company had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $10.67 billion. Vale had a net margin of 10.03% and a return on equity of 14.51%. As a group, equities analysts forecast that Vale will post 1.85 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Fisher Asset Management LLC grew its stake in Vale by 10.0% in the 4th quarter. Fisher Asset Management LLC now owns 37,531,858 shares of the basic materials company’s stock valued at $495,045,000 after buying an additional 3,410,652 shares during the last quarter. Renaissance Technologies LLC grew its stake in Vale by 1,523.0% in the 1st quarter. Renaissance Technologies LLC now owns 27,332,549 shares of the basic materials company’s stock valued at $356,963,000 after buying an additional 25,648,449 shares during the last quarter. Acadian Asset Management LLC grew its stake in Vale by 0.7% in the 4th quarter. Acadian Asset Management LLC now owns 20,253,290 shares of the basic materials company’s stock valued at $267,142,000 after buying an additional 150,703 shares during the last quarter. FMR LLC grew its stake in Vale by 4.8% in the 1st quarter. FMR LLC now owns 19,295,751 shares of the basic materials company’s stock valued at $252,003,000 after buying an additional 876,702 shares during the last quarter. Finally, FIL Ltd grew its stake in Vale by 145.9% in the 1st quarter. FIL Ltd now owns 17,602,739 shares of the basic materials company’s stock valued at $229,892,000 after buying an additional 10,443,564 shares during the last quarter. Institutional investors and hedge funds own 19.23% 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. 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.

See Also: Price to Earnings Ratio (PE), For Valuing Stocks

Analyst Recommendations for Vale (NYSE:VALE)

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