Vale Q3 Profit Surges On Higher Prices, Volume

Iron ore sales reached 76.38 million tonnes in Q3 or 10.7% more than the previous quarter, due to the ramp-up of the S11D mine, the company says. The firm has a 50-day moving average of $10.42 and a 200-day moving average of $9.39. For the current quarter Vale S.A. (NYSE:VALE) has high EPS estimates of $0.61 in contradiction of low EPS estimates of $0.03.

Total shares held by institutions as of the most recent company filings are 4,402,036,578 with a reported 89,542,414 bought and 31,467,782 sold. BidaskClub downgraded shares of Vale from a "strong-buy" rating to a "buy" rating in a report on Tuesday, July 25th. However, the figure was shy of an average consensus estimate of $2.439 billion. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock.

Wall Street analysts are predicting that Vale S.A. (NYSE:VALE) will report earnings per share of $0.33 in their quarterly report. State of Wisconsin Investment Board increased its holdings in shares of Vale by 108.9% in the 2nd quarter. Royal Bank Of Canada set a $11.00 price objective on shares of Vale and gave the company a "hold" rating in a report on Tuesday, October 10th.

Previously Vale S.A. (NYSE:VALE) reported $0 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by $-0.17 with surprise factor of -100%. JPMorgan Chase & Co. raised shares of Vale SA from a "neutral" rating to an "overweight" rating and set a $7.00 target price for the company in a research report on Monday, September 12th. Jefferies Group LLC reissued a "hold" rating and issued a $8.50 price target on shares of Vale in a research report on Friday, July 14th. Vale had a net margin of 11.01% and a return on equity of 16.74%. Wedbush Securities Inc. now owns 12,991 shares of the basic materials company's stock valued at $114,000 after acquiring an additional 84 shares during the last quarter. Capital expenditure in the quarter was $863 million. Acadian Asset Management LLC now owns 10,948,983 shares of the basic materials company's stock valued at $95,804,000 after buying an additional 3,892,825 shares during the period. Private Advisor Group LLC purchased a new stake in shares of Vale in the 2nd quarter valued at $127,000. Finally, GAM Holding AG increased its holdings in shares of Vale by 1.8% in the 2nd quarter.

Investors may be trying to get a read on the next big stock market move. The stock's market cap is $28.76 billion.

For 2017 the Brazilian miner expects to produce 360-380m tonnes, but in comments with the release of the financial results Vale said ore production will grow to 390m tonnes next year and 400m tonnes in 2019.

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