Vale S.A. (NYSE:VALE) Receives $16.72 Average Price Target from Brokerages

Vale S.A. (NYSE:VALE) has received a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $16.72.

VALE has been the topic of several recent research reports. Bank of America restated a “neutral” rating and issued a $13.00 price target (down from $20.00) on shares of Vale in a research report on Tuesday, April 9th. Morgan Stanley reduced their target price on Vale from $18.00 to $15.50 and set an “overweight” rating on the stock in a report on Friday, June 21st. JPMorgan Chase & Co. reduced their target price on Vale from $20.50 to $20.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Barclays lifted their target price on Vale from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Finally, Wolfe Research lowered Vale from an “outperform” rating to a “peer perform” rating in a report on Wednesday, July 17th.

Vale Stock Down 1.1 %

Shares of VALE opened at $10.37 on Monday. The firm has a market capitalization of $46.47 billion, a price-to-earnings ratio of 5.73, a PEG ratio of 3.69 and a beta of 0.96. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 1.08. The business’s fifty day moving average price is $11.30 and its two-hundred day moving average price is $12.30. Vale has a 52 week low of $10.35 and a 52 week high of $16.08.

Vale Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Monday, August 5th will be paid a $0.3698 dividend. This is an increase from Vale’s previous semi-annual dividend of $0.32. The ex-dividend date of this dividend is Monday, August 5th. This represents a dividend yield of 12.1%. Vale’s dividend payout ratio (DPR) is currently 82.32%.

Institutional Trading of Vale

A number of hedge funds and other institutional investors have recently modified their holdings of VALE. Raymond James Financial Services Advisors Inc. increased its position in shares of Vale by 28.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 142,814 shares of the basic materials company’s stock valued at $2,265,000 after acquiring an additional 31,684 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Vale by 3.1% in the fourth quarter. Pacer Advisors Inc. now owns 92,624 shares of the basic materials company’s stock valued at $1,469,000 after acquiring an additional 2,750 shares during the last quarter. Schechter Investment Advisors LLC acquired a new stake in shares of Vale in the fourth quarter valued at about $233,000. Blue Trust Inc. increased its position in shares of Vale by 10.2% in the fourth quarter. Blue Trust Inc. now owns 10,097 shares of the basic materials company’s stock valued at $160,000 after acquiring an additional 932 shares during the last quarter. Finally, Global Retirement Partners LLC increased its position in Vale by 96.0% during the fourth quarter. Global Retirement Partners LLC now owns 15,064 shares of the basic materials company’s stock worth $239,000 after buying an additional 7,379 shares during the last quarter. Institutional investors and hedge funds own 21.85% of the company’s stock.

Vale Company Profile

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.