Equities Analysts Offer Predictions for Vale FY2024 Earnings

Vale S.A. (NYSE:VALE) – Equities research analysts at Scotiabank reduced their FY2024 earnings per share (EPS) estimates for shares of Vale in a research report issued on Wednesday, January 8th. Scotiabank analyst A. Salazar now forecasts that the basic materials company will post earnings of $1.66 per share for the year, down from their previous forecast of $2.26. Scotiabank currently has a “Sector Perform” rating and a $13.00 target price on the stock. The consensus estimate for Vale’s current full-year earnings is $2.08 per share. Scotiabank also issued estimates for Vale’s FY2026 earnings at $2.53 EPS.

Vale (NYSE:VALE) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. Vale had a net margin of 22.59% and a return on equity of 21.07%. The business had revenue of $9.55 billion for the quarter, compared to analysts’ expectations of $9.61 billion. During the same quarter last year, the company earned $0.66 EPS.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley cut Vale from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $14.50 to $11.30 in a report on Thursday, December 12th. JPMorgan Chase & Co. decreased their target price on Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, September 23rd. StockNews.com began coverage on shares of Vale in a report on Friday, December 13th. They issued a “buy” rating for the company. Wolfe Research raised shares of Vale from an “underperform” rating to a “peer perform” rating in a report on Wednesday. Finally, Barclays cut their target price on shares of Vale from $16.00 to $15.25 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $13.89.

Vale Stock Down 0.7 %

VALE opened at $8.50 on Friday. The company has a fifty day moving average of $9.56 and a two-hundred day moving average of $10.38. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.58 and a current ratio of 0.91. Vale has a fifty-two week low of $8.42 and a fifty-two week high of $15.06. The stock has a market capitalization of $38.11 billion, a price-to-earnings ratio of 3.94, a PEG ratio of 0.27 and a beta of 0.92.

Institutional Trading of Vale

A number of hedge funds have recently bought and sold shares of VALE. Connor Clark & Lunn Investment Management Ltd. grew its position in Vale by 6.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,951,020 shares of the basic materials company’s stock worth $92,868,000 after acquiring an additional 468,432 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Vale in the 3rd quarter valued at about $1,126,000. Bank of Montreal Can grew its holdings in Vale by 274.4% during the 3rd quarter. Bank of Montreal Can now owns 162,453 shares of the basic materials company’s stock worth $1,915,000 after acquiring an additional 119,061 shares in the last quarter. Bridgewater Associates LP grew its stake in shares of Vale by 723.2% during the third quarter. Bridgewater Associates LP now owns 2,035,477 shares of the basic materials company’s stock worth $23,774,000 after purchasing an additional 1,788,205 shares in the last quarter. Finally, Polar Asset Management Partners Inc. purchased a new position in shares of Vale in the 3rd quarter valued at about $1,422,000. Institutional investors and hedge funds own 21.85% of the company’s stock.

Vale Company Profile

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.