Vale (NYSE:VALE) Sets New 52-Week Low – Here’s What Happened

Vale S.A. (NYSE:VALE)’s stock price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $9.64 and last traded at $9.73, with a volume of 8749328 shares traded. The stock had previously closed at $9.87.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. StockNews.com began coverage on Vale in a research report on Friday, October 18th. They issued a “buy” rating on the stock. Scotiabank lowered their price objective on Vale from $16.00 to $14.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 20th. Wolfe Research downgraded shares of Vale from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, October 9th. UBS Group cut shares of Vale from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $14.00 to $11.50 in a research report on Monday, November 11th. Finally, Morgan Stanley cut their price objective on shares of Vale from $16.00 to $15.50 and set an “overweight” rating on the stock in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.13.

Vale Stock Performance

The stock’s fifty day moving average is $10.70 and its 200-day moving average is $10.97. 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 stock has a market cap of $44.07 billion, a price-to-earnings ratio of 4.57, a PEG ratio of 0.27 and a beta of 0.94.

Vale (NYSE:VALE) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. Vale had a net margin of 22.59% and a return on equity of 21.07%. The business had revenue of $9.55 billion during the quarter, compared to analysts’ expectations of $9.61 billion. During the same quarter in the prior year, the company earned $0.66 EPS. On average, analysts forecast that Vale S.A. will post 2.13 EPS for the current year.

Hedge Funds Weigh In On Vale

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC raised its holdings in Vale by 18.2% during the 3rd quarter. FMR LLC now owns 36,605,338 shares of the basic materials company’s stock worth $427,550,000 after buying an additional 5,635,167 shares during the period. SPX Gestao de Recursos Ltda boosted its stake in Vale by 60.6% in the 2nd quarter. SPX Gestao de Recursos Ltda now owns 21,969,937 shares of the basic materials company’s stock worth $245,404,000 after purchasing an additional 8,288,112 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Vale by 3,692.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 18,200,000 shares of the basic materials company’s stock worth $212,576,000 after purchasing an additional 17,720,100 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Vale by 10.7% in the 3rd quarter. Fisher Asset Management LLC now owns 17,404,942 shares of the basic materials company’s stock valued at $203,290,000 after purchasing an additional 1,682,544 shares during the period. Finally, Itau Unibanco Holding S.A. lifted its holdings in shares of Vale by 123.4% in the third quarter. Itau Unibanco Holding S.A. now owns 12,059,814 shares of the basic materials company’s stock valued at $140,859,000 after purchasing an additional 6,660,933 shares in the last quarter. 21.85% of the stock is currently owned by institutional investors and hedge funds.

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.