VALE S.A. (VALE) : Traders are bullish on VALE S.A. (VALE) as it has outperformed the S&P 500 by a wide margin of 12% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 5.88%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 5.85% in the last 1 week, and is up 12.43% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Vale S.A. is up 50% in the last 3-month period. Year-to-Date the stock performance stands at 81.46%. The stock has recorded a 20-day Moving Average of 3.4% and the 50-Day Moving Average is 14.25%.
VALE S.A. (NYSE:VALE): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $5.86 and $5.80 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $6.00. The buying momentum continued till the end and the stock did not give up its gains. It closed at $5.97, notching a gain of 1.02% for the day. The total traded volume was 20,636,151 . The stock had closed at $5.91 on the previous day.
Also, Morgan Stanley upgrades their rating on the shares of VALE S.A. (NYSE:VALE). The current rating of the shares is Equal-weight. Earlier, the shares were rated a Underweight by the brokerage firm. Equity Analysts at the Firm raises the price target to $6.2 per share from $4.8 per share. The rating by the firm was issued on August 9, 2016.
Vale S.A. (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.