#5 - Vale (NYSE:VALE)
Vale (NYSE: VALE) is one of the world’s leading producers of iron ore and iron ore pellets used in steelmaking. The need to build new multi-family homes, rebuild our nation’s infrastructure, and the exploding demand for data centers are just three reasons to believe that demand for steel will remain strong. That demand should supercede any talk on tariffs from both the Biden administration and former president and current Republican party nominee, Donald Trump.
But steel isn’t the only reason to consider Vale. The company also has an Energy Transition Materials unit that produces and extracts nickel, gold, silver, cobalt, and other metals such as copper. All of which is to say VALE stock which is down 30% in 2024 is a likely choice as a turnaround candidate with lower interest rates and cyclical demand.
The company’s dividend yield of 10.49% doesn’t offset the 30% decline in the company’s stock price, but it’s a good reason to start averaging into a position now.
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
- $11.80
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 7 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $16.17 (37.1% Upside)
