Vale (NYSE:VALE) Upgraded to Buy at Bank of America

Vale (NYSE:VALE - Get Free Report) was upgraded by investment analysts at Bank of America from a "neutral" rating to a "buy" rating in a research report issued on Thursday, Marketbeat Ratings reports. The firm currently has a $11.50 price objective on the basic materials company's stock, up from their prior price objective of $11.00. Bank of America's price target points to a potential upside of 25.82% from the company's previous close.

A number of other equities research analysts also recently issued reports on VALE. Jefferies Financial Group cut their price target on Vale from $14.00 to $11.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Wolfe Research raised shares of Vale from an "underperform" rating to a "peer perform" rating in a report on Wednesday, January 8th. Morgan Stanley lowered Vale from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $14.50 to $11.30 in a research note on Thursday, December 12th. Scotiabank reduced their price target on Vale from $14.00 to $13.00 and set a "sector perform" rating for the company in a research report on Monday, January 6th. Finally, StockNews.com assumed coverage on Vale in a research report on Wednesday, April 2nd. They set a "hold" rating on the stock. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Vale presently has an average rating of "Hold" and an average price target of $12.65.

Vale Stock Down 1.4 %

Shares of NYSE VALE traded down $0.13 during mid-day trading on Thursday, hitting $9.14. 16,149,042 shares of the stock traded hands, compared to its average volume of 37,062,004. The company has a market cap of $41.49 billion, a price-to-earnings ratio of 6.35, a PEG ratio of 0.31 and a beta of 0.73. The stock has a fifty day moving average price of $9.62 and a 200-day moving average price of $9.75. Vale has a 52 week low of $8.06 and a 52 week high of $13.14. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.58 and a current ratio of 0.91.

Vale (NYSE:VALE - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.36). The firm had revenue of $10.12 billion during the quarter, compared to analysts' expectations of $10.03 billion. Vale had a return on equity of 17.38% and a net margin of 16.15%. Research analysts anticipate that Vale will post 1.85 EPS for the current year.

Institutional Investors Weigh In On Vale

Large investors have recently made changes to their positions in the company. Brooklyn Investment Group increased its stake in Vale by 215.9% in the 4th quarter. Brooklyn Investment Group now owns 2,780 shares of the basic materials company's stock worth $25,000 after acquiring an additional 1,900 shares during the last quarter. IFP Advisors Inc raised its stake in Vale by 206.4% during the fourth quarter. IFP Advisors Inc now owns 2,877 shares of the basic materials company's stock valued at $26,000 after purchasing an additional 1,938 shares in the last quarter. Cornerstone Planning Group LLC lifted its position in Vale by 3,092.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 3,192 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 3,092 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of Vale in the 4th quarter worth $30,000. Finally, Atlas Capital Advisors Inc. increased its holdings in shares of Vale by 68.3% in the 4th quarter. Atlas Capital Advisors Inc. now owns 4,000 shares of the basic materials company's stock worth $35,000 after buying an additional 1,623 shares during the last quarter. 21.85% of the stock is owned by 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.