The stock of Vale SA (ADR) (NYSE:VALE) hit a new 52-week high and has $8.77 target or 24.00% above today’s $7.07 share price. The 6 months bullish chart indicates low risk for the $36.03B company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $8.77 price target is reached, the company will be worth $8.65B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 7.92 million shares traded hands. Vale SA (ADR) (NYSE:VALE) has risen 61.50% since April 5, 2016 and is uptrending. It has outperformed by 59.54% the S&P500.
Vale SA (ADR) (NYSE:VALE) Ratings Coverage
Out of 20 analysts covering Vale S.A. (NYSE:VALE), 5 rate it a “Buy”, 2 “Sell”, while 13 “Hold”. This means 25% are positive. Vale S.A. has been the topic of 37 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The stock of Vale SA (ADR) (NYSE:VALE) earned “Market Perform” rating by Cowen & Co on Friday, November 20. RBC Capital Markets maintained the stock with “Sector Perform” rating in Monday, August 3 report. The company was upgraded on Monday, October 19 by UBS. The firm has “Hold” rating given on Wednesday, January 20 by HSBC. As per Friday, May 6, the company rating was maintained by RBC Capital Markets. The stock of Vale SA (ADR) (NYSE:VALE) earned “Buy” rating by Stifel Nicolaus on Tuesday, October 20. Nomura downgraded Vale SA (ADR) (NYSE:VALE) on Thursday, March 17 to “Neutral” rating. Bank of America upgraded the stock to “Buy” rating in Thursday, March 24 report. The firm has “Neutral” rating given on Thursday, June 9 by Goldman Sachs. The stock has “Outperform” rating given by Itau BBA on Thursday, October 20.
According to Zacks Investment Research, “Vale SA is a mining company engaged in the mining of iron ore and pellets, nickel, manganese and ferro-alloys, gold, nickel, copper, kaolin, bauxite, alumina, aluminum, and potash. It operates logistics systems in Brazil, including railroads, maritime terminals and a port. Vale SA is based in Rio de Janeiro, Brazil.”
More news for Vale SA (ADR) (NYSE:VALE) were recently published by: Fool.com, which released: “A Big Weight Has Been Lifted Off of Vale SA (ADR) Stock Today” on March 03, 2016. Investorplace.com‘s article titled: “Vale SA (ADR): Buy the Deep Pullback in VALE Stock” and published on May 10, 2016 is yet another important article.
VALE Company Profile
Vale S.A. (Vale), incorporated on January 11, 1943, is a metals and mining company. The Firm is also a producer of iron ore and iron ore pellets, and nickel. The Company’s divisions include Ferrous minerals, Coal, Base metals, Fertilizers and Others. The Firm produces manganese ore, ferroalloys, metallurgical and thermal coal, copper, platinum group metals (PGMs), gold, silver, cobalt, potash, phosphates and other fertilizer nutrients. The Firm is engaged in greenfield mineral exploration in over six countries. The Firm operates logistics systems in Brazil and other regions of the world, including railroads, maritime terminals and ports, which are integrated with its mining operations. In addition, the Company has a portfolio of maritime freight assets, floating transfer stations and distribution centers to support the distribution of iron ore around the world. Directly and through affiliates and joint ventures, the Company also has investments in energy and steel businesses.
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