Vale (VALE) Upgraded to “Outperform” by Credit Suisse Group

Vale (NYSE:VALE) was upgraded by investment analysts at Credit Suisse Group from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, December 5th, MarketBeat reports. The brokerage currently has a $15.00 price objective on the basic materials company’s stock, up from their prior price objective of $11.32. Credit Suisse Group’s price objective would suggest a potential upside of 22.65% from the company’s current price.

A number of other research firms also recently commented on VALE. Morgan Stanley upgraded Vale from an “equal weight” rating to an “overweight” rating and set a $12.00 target price on the stock in a research report on Monday, November 27th. Macquarie upgraded Vale from a “neutral” rating to an “outperform” rating in a research report on Tuesday, November 21st. Santander upgraded Vale from a “hold” rating to a “buy” rating in a research report on Tuesday, September 12th. Royal Bank of Canada upgraded Vale from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $11.00 to $14.50 in a research report on Monday, November 20th. Finally, TheStreet upgraded Vale from a “c+” rating to a “b-” rating in a research report on Wednesday, November 8th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Vale currently has a consensus rating of “Buy” and an average target price of $11.08.

Vale (NYSE VALE) traded up $0.05 during trading hours on Tuesday, reaching $12.23. The company’s stock had a trading volume of 13,082,410 shares, compared to its average volume of 21,737,052. Vale has a twelve month low of $7.47 and a twelve month high of $12.30. The company has a quick ratio of 1.47, a current ratio of 1.86 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $63,551.00, a price-to-earnings ratio of 12.11, a PEG ratio of 0.82 and a beta of 1.57.

Vale (NYSE:VALE) last announced its quarterly earnings data on Thursday, October 26th. The basic materials company reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.15. Vale had a return on equity of 19.02% and a net margin of 15.25%. The business had revenue of $9.05 billion for the quarter. equities analysts anticipate that Vale will post 1.21 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of VALE. Balyasny Asset Management LLC purchased a new stake in shares of Vale during the 2nd quarter valued at $42,373,000. Trilogy Global Advisors LP purchased a new stake in shares of Vale during the 2nd quarter valued at $30,124,000. Key Group Holdings Cayman LTD. purchased a new stake in shares of Vale during the 2nd quarter valued at $15,903,000. Investec Asset Management LTD purchased a new stake in shares of Vale during the 3rd quarter valued at $17,457,000. Finally, NINE MASTS CAPITAL Ltd lifted its holdings in shares of Vale by 201.4% during the 2nd quarter. NINE MASTS CAPITAL Ltd now owns 2,415,425 shares of the basic materials company’s stock valued at $21,135,000 after purchasing an additional 1,613,942 shares during the last quarter. Hedge funds and other institutional investors own 18.89% of the company’s stock.

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Vale Company Profile

Vale SA is a global producer of iron ore and iron ore pellets, key raw materials for steelmaking, and producer of nickel. The Company also produces copper, metallurgical and thermal coal, potash, phosphates and other fertilizer nutrients, manganese ore, ferroalloys, platinum group metals, gold, silver and cobalt.

Analyst Recommendations for Vale (NYSE:VALE)

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