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, with a price target of $16.50.
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Salazar covers the Basic Materials sector, focusing on stocks such as Vale SA, Ternium SA, and Hochschild Mining. According to TipRanks, Salazar has an average return of 4.1% and a 60.00% success rate on recommended stocks.
In addition to Scotiabank, Vale SA also received a Hold from Barclays’s Amos Fletcher in a report issued today. However, on April 13, BMO Capital maintained a Buy rating on Vale SA (NYSE: VALE).
Based on Vale SA’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $11.06 billion and a GAAP net loss of $3.9 billion. In comparison, last year the company earned a revenue of $9.6 billion and had a GAAP net loss of $756.23 million
Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VALE in relation to earlier this year. Earlier this month, Sami Arap Sobrinho, the Executive VP Legal Officer of VALE bought 12,990.00 shares for a total of $209,268.90.
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