Published On: Thu, Sep 22nd, 2016

Vale SA’s (VALE) Outperform Rating Reiterated at Sanford C. Bernstein

Vale SA (NASDAQ:VALE)‘s stock had its “outperform” rating reiterated by research analysts at Sanford C. Bernstein in a research report issued on Thursday.
A number of other research analysts also recently weighed in on the company. Barclays PLC raised Vale SA from an “underweight” rating to an “equal weight” rating and set a $5.11 price objective on the stock in a research note on Wednesday. Morgan Stanley raised Vale SA from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $4.80 to $6.20 in a research note on Tuesday, August 9th. Jefferies Group set a $6.00 price objective on Vale SA and gave the company a “hold” rating in a research note on Tuesday, August 23rd. Goldman Sachs Group Inc. started coverage on Vale SA in a research note on Thursday, June 9th. They issued a “neutral” rating and a $4.40 price objective on the stock. Finally, Wedbush reissued an “outperform” rating on shares of Vale SA in a research note on Thursday, June 9th. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $5.75.
Vale SA (NASDAQ:VALE) traded down 0.73% during midday trading on Thursday, hitting $5.43. The company had a trading volume of 21,461,471 shares. Vale SA has a one year low of $2.13 and a one year high of $6.26. The company’s 50 day moving average is $5.59 and its 200-day moving average is $4.93. The company’s market cap is $27.98 billion.

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A number of hedge funds have recently added to or reduced their stakes in VALE. Acadian Asset Management LLC acquired a new stake in Vale SA during the second quarter worth about $4,433,000. CIBC World Markets Inc. raised its stake in shares of Vale SA by 0.3% in the second quarter. CIBC World Markets Inc. now owns 606,414 shares of the company’s stock valued at $3,068,000 after buying an additional 1,923 shares during the last quarter. RNC Capital Management LLC purchased a new stake in shares of Vale SA during the second quarter valued at $142,000. American Century Companies Inc. purchased a new stake in shares of Vale SA during the second quarter valued at $9,768,000. Finally, Pacific Heights Asset Management LLC raised its stake in shares of Vale SA by 25.0% in the second quarter. Pacific Heights Asset Management LLC now owns 750,000 shares of the company’s stock valued at $3,795,000 after buying an additional 150,000 shares during the last quarter.
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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