Vale (NYSE:VALE) PT Raised to $17.00 at Barclays

Vale (NYSE:VALE) had its target price upped by Barclays from $16.00 to $17.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the basic materials company’s stock.

VALE has been the topic of a number of other reports. Royal Bank of Canada reaffirmed an outperform rating and set a $19.00 target price on shares of Vale in a research report on Monday, February 12th. JPMorgan Chase & Co. decreased their target price on Vale from $20.50 to $20.00 and set an overweight rating for the company in a research report on Friday, April 12th. StockNews.com started coverage on Vale in a research report on Saturday, March 30th. They set a buy rating on the stock. Bank of America restated a neutral rating and issued a $13.00 price objective (down from $20.00) on shares of Vale in a report on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Vale from $18.00 to $16.00 and set a hold rating for the company in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Vale presently has an average rating of Moderate Buy and a consensus target price of $16.67.

Vale Price Performance

VALE opened at $12.18 on Tuesday. The business has a fifty day moving average of $12.65 and a 200 day moving average of $13.76. The stock has a market cap of $54.60 billion, a P/E ratio of 6.66, a PEG ratio of 3.45 and a beta of 0.97. The company has a quick ratio of 0.96, a current ratio of 1.28 and a debt-to-equity ratio of 0.38. Vale has a 52-week low of $11.52 and a 52-week high of $16.08.

Vale (NYSE:VALE) last released its earnings results on Thursday, February 22nd. The basic materials company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.48). The business had revenue of $13.05 billion for the quarter, compared to the consensus estimate of $12.95 billion. Vale had a return on equity of 20.00% and a net margin of 19.10%. During the same quarter last year, the business posted $0.82 earnings per share. As a group, sell-side analysts anticipate that Vale will post 2.23 EPS for the current year.

Vale Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 13th were issued a $0.3182 dividend. This represents a yield of 9.7%. The ex-dividend date of this dividend was Tuesday, March 12th. Vale’s dividend payout ratio is currently 64.48%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in VALE. Versant Capital Management Inc acquired a new stake in Vale in the first quarter worth about $26,000. Sunbelt Securities Inc. acquired a new stake in Vale in the 1st quarter worth approximately $28,000. Systematic Alpha Investments LLC purchased a new stake in Vale during the 3rd quarter worth approximately $31,000. Whittier Trust Co. grew its position in Vale by 423.1% during the 4th quarter. Whittier Trust Co. now owns 1,951 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 1,578 shares during the last quarter. Finally, Rakuten Securities Inc. acquired a new position in Vale during the 4th quarter valued at approximately $31,000. 21.85% of the stock is currently owned by hedge funds and other institutional investors.

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.