#5 - Vale (NYSE:VALE)
Vale S.A. (NYSE: VALE) is an infrastructure and commodity play for investors to consider. Vale is a miner of many metals, and most significantly, in 2024, the company's leadership in iron ore mining. Iron ore is a key element in steel, which is likely to be in high demand.
The much-debated Inflation Reduction Act has had an effect on monetary policy, but it is allowing millions of dollars to flow into infrastructure projects. Those will only increase as the federal government is now pledging to bear much, if not all, of the cost to repair the Francis Scott Key Bridge in Baltimore. In addition to iron, Vale mines copper, which will be needed to build out our country's aging electric infrastructure.
Trading at 4.6x earnings, VALE stock is cheap, period. However, when you consider that it has a dividend yield of 9.88%, you have a stock with tremendous upside at its current price.
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.
Read More - Current Price
- $11.48
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 7 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $16.17 (40.8% Upside)
