The stock of Vale SA (ADR) (NYSE:VALE) hit a new 52-week high and has $8.38 target or 3.00% above today’s $8.14 share price. The 5 months bullish chart indicates low risk for the $40.42B company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $8.38 price target is reached, the company will be worth $1.21B 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 25.92M shares traded hands. Vale SA (ADR) (NYSE:VALE) has risen 26.19% since April 20, 2016 and is uptrending. It has outperformed by 21.64% 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. Goldman Sachs initiated Vale SA (ADR) (NYSE:VALE) on Thursday, June 9 with “Neutral” rating. The company was upgraded on Monday, October 19 by UBS. The rating was maintained by Jefferies on Tuesday, August 23 with “Hold”. The rating was upgraded by Bank of America on Thursday, March 24 to “Buy”. The firm has “Buy” rating by BB&T Capital given on Monday, May 2. On Thursday, March 10 the stock rating was downgraded by Stifel Nicolaus to “Hold”. The stock of Vale SA (ADR) (NYSE:VALE) earned “Outperform” rating by Itau BBA on Thursday, October 20. The rating was maintained by Stifel Nicolaus on Tuesday, October 20 with “Buy”. Citigroup upgraded Vale SA (ADR) (NYSE:VALE) rating on Tuesday, November 1. Citigroup has “Neutral” rating and $7.30 price target. The firm earned “Strong-Buy” rating on Friday, August 28 by Vetr.
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.”
Another recent and important Vale SA (ADR) (NYSE:VALE) news was published by Fool.com which published an article titled: “A Big Weight Has Been Lifted Off of Vale SA (ADR) Stock Today” on March 03, 2016.
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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