Jefferies Reiterates a Hold Rating on Vale SA

By Ryan Adsit

Jefferies analyst Chris LaFemina reiterated a Hold rating on Vale SA (NYSE: VALE) today and set a price target of $10. The company’s shares closed yesterday at $8.

According to, LaFemina is ranked 0 out of 5 stars with an average return of -6.4% and a 41.3% success rate. LaFemina covers the Basic Materials sector, focusing on stocks such as Newmont Mining Corporation, Randgold Resources Limited, and Anglogold Ashanti Ltd.

Currently, the analyst consensus on Vale SA is Hold and the average price target is $9.75, representing a 21.9% upside.

In a report issued on May 12, Credit Suisse also maintained a Hold rating on the stock with a $8 price target.

The company has a one year high of $11.33 and a one year low of $3.70. Currently, Vale SA has an average volume of 29.01M.

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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.