Vale S.A. (NYSE:VALE) was the target of a significant decline in short interest in January. As of January 31st, there was short interest totalling 77,467,582 shares, a decline of 25.6% from the January 13th total of 104,069,337 shares. Based on an average trading volume of 28,686,145 shares, the short-interest ratio is presently 2.7 days.
Several research firms have commented on VALE. BMO Capital Markets restated an “underperform” rating and issued a $5.00 price target on shares of Vale in a research note on Wednesday, November 30th. Vetr downgraded shares of Vale from a “buy” rating to a “hold” rating and set a $10.90 price target for the company. in a research note on Monday, January 23rd. Zacks Investment Research downgraded shares of Vale from a “buy” rating to a “hold” rating in a research note on Friday, February 3rd. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Vale in a research report on Saturday, January 14th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $9.00 price objective (up from $7.50) on shares of Vale in a research report on Thursday, December 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $7.06.
Vale (NYSE:VALE) opened at 11.16 on Wednesday. The firm’s market capitalization is $57.51 billion. The firm’s 50-day moving average is $9.56 and its 200 day moving average is $7.30. Vale has a 12 month low of $2.70 and a 12 month high of $11.49.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Meridian Wealth Management LLC bought a new position in Vale during the fourth quarter worth approximately $276,000. Wetherby Asset Management Inc. increased its position in Vale by 10.9% in the fourth quarter. Wetherby Asset Management Inc. now owns 27,995 shares of the company’s stock worth $213,000 after buying an additional 2,753 shares during the period. Wexford Capital LP bought a new position in Vale during the fourth quarter worth approximately $218,000. Pacad Investment Ltd. bought a new position in Vale during the fourth quarter worth approximately $390,000. Finally, BigSur Wealth Management LLC bought a new position in Vale during the fourth quarter worth approximately $663,000. Hedge funds and other institutional investors own 7.98% of the company’s stock.
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Vale Company Profile
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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