Brokerages Set Vale S.A. (NYSE:VALE) Price Target at $16.17

Vale S.A. (NYSE:VALE) has received a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $16.15.

A number of brokerages recently issued reports on VALE. Scotiabank reduced their price target on Vale from $17.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Tuesday. UBS Group reduced their price target on Vale from $15.00 to $14.50 and set a “buy” rating on the stock in a research report on Friday, July 5th. Morgan Stanley reduced their price target on Vale from $16.00 to $15.50 and set an “overweight” rating on the stock in a research report on Thursday, September 19th. JPMorgan Chase & Co. reduced their price target on Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, September 23rd. Finally, BNP Paribas raised Vale from an “underperform” rating to a “neutral” rating in a research report on Friday, June 21st.

Vale Price Performance

Shares of NYSE VALE opened at $10.99 on Friday. The business’s 50 day moving average price is $10.70 and its two-hundred day moving average price is $11.36. The company has a market cap of $49.25 billion, a PE ratio of 6.07, a price-to-earnings-growth ratio of 0.30 and a beta of 0.93. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 0.43. Vale has a twelve month low of $9.66 and a twelve month high of $16.08.

Vale (NYSE:VALE) last posted its earnings results on Thursday, July 25th. The basic materials company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.38 by $0.05. Vale had a return on equity of 22.23% and a net margin of 23.07%. The company had revenue of $9.92 billion for the quarter, compared to the consensus estimate of $9.97 billion. On average, analysts predict that Vale will post 2.06 EPS for the current year.

Vale Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Wednesday, September 11th. Shareholders of record on Monday, August 5th were given a $0.3698 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a yield of 12.1%. This is a positive change from Vale’s previous semi-annual dividend of $0.32. Vale’s dividend payout ratio (DPR) is currently 64.09%.

Institutional Investors Weigh In On Vale

Hedge funds and other institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc acquired a new stake in Vale during the 1st quarter worth approximately $26,000. Pacifica Partners Inc. acquired a new position in shares of Vale during the second quarter worth $27,000. Richardson Financial Services Inc. acquired a new position in shares of Vale during the fourth quarter worth $31,000. Lowe Wealth Advisors LLC bought a new stake in shares of Vale in the second quarter worth $45,000. Finally, Founders Capital Management increased its holdings in Vale by 111.1% in the first quarter. Founders Capital Management now owns 3,800 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 2,000 shares during the period. Institutional investors own 21.85% 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. 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.