Vale (NYSE:VALE) Shares Gap Down to $12.99

Shares of Vale SA (NYSE:VALE) gapped down before the market opened on Thursday . The stock had previously closed at $13.25, but opened at $12.99. Vale shares last traded at $12.52, with a volume of 29,837,043 shares.

VALE has been the topic of a number of recent analyst reports. ValuEngine lowered Vale from a “sell” rating to a “strong sell” rating in a report on Thursday. Deutsche Bank set a $15.00 target price on Vale and gave the stock a “hold” rating in a report on Thursday, July 11th. TheStreet lowered Vale from a “b-” rating to a “c” rating in a report on Thursday, May 16th. BMO Capital Markets set a $13.00 target price on Vale and gave the stock a “hold” rating in a report on Tuesday, May 14th. Finally, Zacks Investment Research lowered Vale from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $14.22.

The company has a quick ratio of 0.82, a current ratio of 1.21 and a debt-to-equity ratio of 0.37. The business’s fifty day simple moving average is $13.48. The stock has a market capitalization of $67.78 billion, a PE ratio of 6.64, a price-to-earnings-growth ratio of 1.78 and a beta of 1.09.

Vale (NYSE:VALE) last issued its quarterly earnings data on Friday, May 10th. The basic materials company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.09). Vale had a net margin of 10.03% and a return on equity of 23.20%. The firm had revenue of $8.20 billion during the quarter, compared to analyst estimates of $9.61 billion. On average, sell-side analysts anticipate that Vale SA will post 1.73 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Gould Asset Management LLC CA grew its holdings in Vale by 6.9% in the 2nd quarter. Gould Asset Management LLC CA now owns 14,739 shares of the basic materials company’s stock valued at $198,000 after buying an additional 950 shares in the last quarter. GFS Advisors LLC grew its holdings in Vale by 8.1% in the 2nd quarter. GFS Advisors LLC now owns 15,545 shares of the basic materials company’s stock valued at $209,000 after buying an additional 1,170 shares in the last quarter. Signaturefd LLC lifted its position in shares of Vale by 16.2% during the 1st quarter. Signaturefd LLC now owns 10,768 shares of the basic materials company’s stock valued at $141,000 after acquiring an additional 1,502 shares during the period. American Beacon Advisors Inc. bought a new stake in shares of Vale during the 1st quarter valued at $35,000. Finally, Wetherby Asset Management Inc. lifted its position in shares of Vale by 7.8% during the 2nd quarter. Wetherby Asset Management Inc. now owns 37,398 shares of the basic materials company’s stock valued at $502,000 after acquiring an additional 2,713 shares during the period. 19.19% of the stock is currently owned by hedge funds and other institutional investors.

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.

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