Published On: Thu, Sep 22nd, 2016

Vale SA to Post FY2016 Earnings of $0.30 Per Share, Jefferies Group Forecasts (VALE)

Vale SA (NASDAQ:VALE) – Equities research analysts at Jefferies Group boosted their FY2016 EPS estimates for Vale SA in a report released on Tuesday. Jefferies Group analyst C. Lafemina now anticipates that the brokerage will earn $0.30 per share for the year, up from their previous forecast of $0.28. Jefferies Group has a “Hold” rating and a $6.00 price objective on the stock. Jefferies Group also issued estimates for Vale SA’s FY2017 earnings at $0.24 EPS and FY2018 earnings at $0.70 EPS.
VALE has been the topic of several other research reports. Barclays PLC raised shares of Vale SA from an “underweight” rating to an “equal weight” rating and set a $5.11 target price on the stock in a research report on Wednesday. Royal Bank Of Canada lifted their price target on shares of Vale SA from $5.50 to $6.00 and gave the stock a “sector perform” rating in a report on Thursday, September 8th. Morgan Stanley raised shares of Vale SA from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $4.80 to $6.20 in a report on Tuesday, August 9th. Goldman Sachs Group Inc. initiated coverage on shares of Vale SA in a report on Thursday, June 9th. They issued a “neutral” rating and a $4.40 price target on the stock. Finally, Wedbush reaffirmed an “outperform” rating on shares of Vale SA in a report on Thursday, June 9th. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $5.75.
Vale SA (NASDAQ:VALE) traded down 0.18% during midday trading on Thursday, reaching $5.46. The company’s stock had a trading volume of 17,171,169 shares. The company’s market cap is $28.14 billion. The stock has a 50-day moving average price of $5.59 and a 200 day moving average price of $4.93. Vale SA has a 12 month low of $2.13 and a 12 month high of $6.26.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Growth Management LP raised its position in Vale SA by 125.8% in the second quarter. Capital Growth Management LP now owns 7,000,000 shares of the company’s stock worth $35,420,000 after buying an additional 3,900,000 shares in the last quarter. Exane Derivatives acquired a new position in Vale SA during the second quarter worth $10,106,000. American Century Companies Inc. acquired a new position in Vale SA during the second quarter worth $9,768,000. ClariVest Asset Management LLC acquired a new position in Vale SA during the second quarter worth $7,786,000. Finally, Societe Generale acquired a new position in Vale SA during the second quarter worth $7,295,000.
About Vale SA
Vale SA (Vale) is a metals and mining company. The Company is also a producer of iron ore and iron ore pellets, and nickel. The Company’s segments include Ferrous minerals, Coal, Base metals, Fertilizers and Others. Its Ferrous minerals segment consists of the production and extraction of ferrous minerals, as iron ore, pellets and its logistic services, manganese and ferroalloys, and other ferrous products and services.

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