Vale (NYSE:VALE) Issues Earnings Results

Vale (NYSE:VALE) released its earnings results on Wednesday. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.36), Zacks reports. The company had revenue of $10.12 billion during the quarter, compared to analyst estimates of $10.03 billion. Vale had a net margin of 22.59% and a return on equity of 21.07%.

Vale Stock Performance

NYSE:VALE traded up $0.08 during trading hours on Friday, reaching $10.23. 17,881,239 shares of the stock were exchanged, compared to its average volume of 36,795,586. The stock has a market capitalization of $46.41 billion, a P/E ratio of 4.73, a P/E/G ratio of 0.30 and a beta of 0.91. Vale has a 52 week low of $8.38 and a 52 week high of $13.76. The company has a quick ratio of 0.58, a current ratio of 0.91 and a debt-to-equity ratio of 0.39. The firm has a 50 day simple moving average of $9.09 and a 200-day simple moving average of $9.99.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on VALE shares. UBS Group lowered Vale from a “buy” rating to a “neutral” rating and dropped their target price for the company from $14.00 to $11.50 in a report on Monday, November 11th. Scotiabank reduced their price objective on Vale from $14.00 to $13.00 and set a “sector perform” rating on the stock in a research report on Monday, January 6th. StockNews.com initiated coverage on Vale in a research report on Friday, December 13th. They set a “buy” rating on the stock. Barclays reduced their target price on Vale from $16.00 to $15.25 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group reduced their target price on Vale from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $13.26.

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.