Vale S.A. (NYSE:VALE – Get Free Report) shares were up 0.5% during trading on Tuesday . The stock traded as high as $10.01 and last traded at $10.00. Approximately 11,545,647 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 26,080,934 shares. The stock had previously closed at $9.95.
Wall Street Analyst Weigh In
Several research analysts have recently commented on VALE shares. Barclays boosted their price target on Vale from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Morgan Stanley dropped their target price on Vale from $18.00 to $15.50 and set an “overweight” rating on the stock in a research note on Friday, June 21st. UBS Group dropped their target price on Vale from $15.00 to $14.50 and set a “buy” rating on the stock in a research note on Friday, July 5th. Wolfe Research downgraded Vale from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. dropped their target price on Vale from $20.50 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.72.
Vale Price Performance
The firm has a market cap of $45.28 billion, a PE ratio of 5.52, a price-to-earnings-growth ratio of 3.57 and a beta of 0.96. The stock’s fifty day moving average price is $11.25 and its 200-day moving average price is $12.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.08 and a quick ratio of 0.79.
Vale Increases Dividend
The company also recently declared a semi-annual dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Monday, August 5th will be given a dividend of $0.3698 per share. This is a boost from Vale’s previous semi-annual dividend of $0.32. The ex-dividend date of this dividend is Monday, August 5th. This represents a dividend yield of 12.1%. Vale’s payout ratio is presently 65.19%.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. Richardson Financial Services Inc. acquired a new position in Vale in the fourth quarter valued at about $31,000. Rakuten Securities Inc. acquired a new stake in shares of Vale during the fourth quarter worth about $31,000. GAMMA Investing LLC acquired a new stake in shares of Vale during the fourth quarter worth about $32,000. Versant Capital Management Inc acquired a new stake in shares of Vale during the first quarter worth about $26,000. Finally, Pacifica Partners Inc. acquired a new stake in shares of Vale during the second quarter worth about $27,000. Institutional investors and hedge funds own 21.85% of the company’s stock.
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.