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 closed yesterday at $12.37.
According to TipRanks, Salazar is a 3-star analyst with an average return of 7.4% and a 61.11% success rate. Salazar covers the Basic Materials sector, focusing on stocks such as Vale SA, Ternium SA, and FRESNILLO.
Currently, the analyst consensus on Vale SA is a Moderate Buy with an average price target of $16.37, representing a 32.34% upside. In a report released on April 9, Bank of America Securities also downgraded the stock to a Hold with a $13.00 price target.
VALE market cap is currently $52.58B and has a P/E ratio of 6.67.
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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.
