BMO Capital Keeps a Hold Rating on Vale SA

By Austin Angelo

BMO Capital analyst David Gagliano reiterated a Hold rating on Vale SA (NYSE: VALE) yesterday and set a price target of $10. The company’s shares closed yesterday at $8.21.

According to, Gagliano is a 4-star analyst with an average return of 5.4% and a 50.6% success rate. Gagliano covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Newmont Mining Corporation, and Stillwater Mining Company.

Currently, the analyst consensus on Vale SA is Hold and the average price target is $9.75, representing a 18.8% upside.

In a report issued on May 19, Jefferies also reiterated a Hold rating on the stock with a $10 price target.

Vale SA’s market cap is currently $26.15B and has a P/E ratio of 9.15. The company has a book value ratio of 1.0085.

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Vale SA engages in the production and exportation of iron ore, pellets, manganese, and iron alloys, which are raw materials needed for steelmaking. It operates through the following segments: Ferrous Minerals, Coal, Base Metals, Fertilizers and Others. The Ferrous Minerals segment includes the extraction of iron ore and the production of pellets, manganese ore, iron alloys, and coal, and logistics services. The Coal segment comprises the extraction of coal and its logistic services. The Base Metals segment involves the production of non-ferrous minerals, which include nickel, copper, and aluminum. The Fertilizers segment is comprised of three major groups of nutrients: potassium, phosphate, and nitrogen. The Others segment encompasses joint ventures and affiliates of other businesses. The company was founded on June 1, 1942 and is headquartered in Rio de Janeiro, Brazil.