Scotiabank analyst Alfonso Salazar maintained a Hold rating on Vale SA (VALE – Research Report) today and set a price target of $17.00. The company’s shares closed yesterday at $13.25.
Salazar covers the Basic Materials sector, focusing on stocks such as Vale SA, Southern Copper, and FRESNILLO. According to TipRanks, Salazar has an average return of 10.4% and a 62.86% success rate on recommended stocks.
Vale SA has an analyst consensus of Strong Buy, with a price target consensus of $18.06.
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VALE market cap is currently $56.84B and has a P/E ratio of 6.29.
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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.
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