HSBC cut shares of Vale SA (NYSE:VALE) from a buy rating to a hold rating in a research report sent to investors on Wednesday, MarketBeat Ratings reports.

Shares of Vale SA (NYSE:VALE) traded down 4.85% during trading on Wednesday, reaching $2.16. 18,364,592 shares of the company’s stock were exchanged. The firm’s market capitalization is $11.13 billion. Vale SA has a 52 week low of $2.14 and a 52 week high of $9.14. The company’s 50-day moving average price is $2.95 and its 200 day moving average price is $4.32.

A number of other analysts have also recently weighed in on VALE. Scotiabank dropped their target price on shares of Vale SA from $9.50 to $8.50 in a report on Tuesday, September 29th. CIBC lowered their price target on shares of Vale SA from $7.15 to $5.80 in a research report on Friday, October 2nd. Vetr lowered shares of Vale SA from a strong-buy rating to a buy rating and set a $5.86 price target for the company. in a research report on Thursday, October 8th. Canaccord Genuity upped their price target on shares of Vale SA to $7.00 and gave the stock a buy rating in a research report on Monday, October 19th. Finally, Stifel Nicolaus lowered their price target on shares of Vale SA from $13.00 to $10.00 and set a buy rating for the company in a research report on Tuesday, October 20th. Seven investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Vale SA presently has an average rating of Hold and a consensus price target of $5.99.

Vale S.A. (NYSE:VALE) is a metals and mining company. The Company is also a producer of iron ore and iron ore pellets, and nickel. The Company also produces manganese ore, ferroalloys, metallurgical and thermal coal, copper, platinum group metals (PGMs), gold, silver, cobalt, potash, phosphates and other fertilizer nutrients. The Company operates through four business segments: Bulk Material, Base metals, Fertilizers and Other. The Bulk Material segment includes the production and extraction of ferrous minerals, and the extraction of coal and its logistic services (railroads, ports and terminals). The Base metals segment produces and extracts non-ferrous minerals. The Fertilizers segment produces three groups of nutrients, such as potash, phosphate and nitrogen. The Other segment includes sales and expenses of other products, services and investments in joint ventures and associate in other businesses.

12 Month Chart for NYSE:VALE

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