Brokerage firm Morgan Stanley Upgrades its rating on Vale SA (ADR)(NYSE:VALE). In a research note issued to the investors, the brokerage major Raises the price-target to $6.20 per share. The shares have been rated Equal-weight. Previously, the analysts had a Underweight rating on the shares. The rating by Morgan Stanley was issued on Aug 9, 2016.
In a different note, Goldman Sachs said it Initiates Coverage on Vale SA (ADR), according to a research note issued on Jun 9, 2016. The shares have been rated ‘Neutral’ by the firm.
Vale SA (ADR) (VALE) made into the market gainers list on Wednesdays trading session with the shares advancing 0.34% or 0.02 points. Due to strong positive momentum, the stock ended at $5.97, which is also near the day’s high of $5.99. The stock began the session at $5.8 and the volume stood at 1,88,48,353 shares. The 52-week high of the shares is $6.26 and the 52 week low is $2.13. The company has a current market capitalization of $30,766 M and it has 5,15,33,74,900 shares in outstanding.
Vale SA (ADR)(VALE) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $6.63B. Analysts had an estimated revenue of $6.54B. Earnings per share were $0.22. Analysts had estimated an EPS of $0.17.
Vale S.A. (Vale) is a metals and mining company. The Company is also a producer of iron ore and iron ore pellets and nickel. The Company also produces manganese ore ferroalloys metallurgical and thermal coal copper platinum group metals (PGMs) gold silver cobalt potash phosphates and other fertilizer nutrients. The Company operates through four business segments: Bulk Material Base metals Fertilizers and Other. The Bulk Material segment includes the production and extraction of ferrous minerals and the extraction of coal and its logistic services (railroads ports and terminals). The Base metals segment produces and extracts non-ferrous minerals. The Fertilizers segment produces three groups of nutrients such as potash phosphate and nitrogen. The Other segment includes sales and expenses of other products services and investments in joint ventures and associate in other businesses.