RBC Capital downgrades Vale SA (VALE) to a Hold
Vale SA received a Hold rating and a $15.50 price target from RBC Capital analyst Ben Davis today.
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According to TipRanks, Davis is a 5-star analyst with an average return of 33.3% and a 74.70% success rate. Davis covers the Basic Materials sector, focusing on stocks such as Rio Tinto, Glencore, and Valterra Platinum Limited.
In addition to RBC Capital, Vale SA also received a Hold from Bernstein’s Bob Brackett in a report issued on March 9. However, on March 2, Barclays 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
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