Scotiabank Sticks to Their Hold Rating for Vale SA (VALE)

In a report released today, Alfonso Salazar from Scotiabank maintained a Hold rating on Vale SA (VALE – Research Report), with a price target of $17.00. The company’s shares opened today at $13.58.

Salazar covers the Basic Materials sector, focusing on stocks such as Vale SA, Southern Copper, and Ternium SA. According to TipRanks, Salazar has an average return of 10.0% and a 58.33% success rate on recommended stocks.

Currently, the analyst consensus on Vale SA is a Strong Buy with an average price target of $18.19.

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VALE market cap is currently $57.48B and has a P/E ratio of 6.35.

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Vale SA (VALE) Company Description:

Founded in 1942, Brazil-based Vale SA produces and exports iron ore, pellets, manganese, and iron alloys, which are used as raw materials in steelmaking. It operates through the following segments: Ferrous Minerals, Coal and Base Metals.

Read More on VALE:

• VALE Earnings this Week: How Will it Perform?
• Here’s Why BHP’s Half-Year Profits Could be Under Pressure
• Vale call volume above normal and directionally bullish
• BHP, Vale Slapped With $9.7B Fine for Brazil Dam Collapse
• Vale, BHP ordered to pay R$47.6B for dam collapse, O Globo reports