10.86 +0.09 (0.84%)
Before hours: 9:23AM EDT
|Bid||0.00 x 43500|
|Ask||10.84 x 45900|
|Day's Range||10.75 - 11.10|
|52 Week Range||6.49 - 14.19|
|Beta (5Y Monthly)||0.82|
|PE Ratio (TTM)||92.93|
|Forward Dividend & Yield||0.69 (6.44%)|
|Ex-Dividend Date||Dec. 27, 2019|
|1y Target Est||13.81|
Vale (VALE) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.
* Brazilian President Bolsonaro tests positive for coronavirus * Brazil's real erases earlier gains * Chile's peso supported by strong export data * Mexican peso pressured by weak oil (Updates prices throughout) By Shreyashi Sanyal July 7 (Reuters) - Brazil's real erased gains from earlier in the session on Tuesday, on caution about the alarming spread of the coronavirus after the country's president, Jair Bolsonaro, tested positive for the virus, while the Mexican peso weakened with sliding oil prices. The real, after having shed more than 25% for the year on heightened political risks and soaring COVID-19 cases, came under pressure as Bolsonaro, long a skeptic about the coronavirus, tested positive for it. The pandemic has killed more than 65,000 people in Brazil, which currently stands as the second-worst hit country in the world by the pandemic after the United States, in terms of infections.
* Chile's peso supported by strong export data * Mexican peso pressured by weak oil * Brazil's real leads FX gains By Ambar Warrick July 7 (Reuters) - Mexico's peso dropped on Tuesday, tracking weak oil prices while major Latin American stocks came off four-month highs as a recent risk rally paused for breath. While positive economic data had spurred several sessions' gains in Latin American markets, a continued uptick in global coronavirus cases kept caution alive. Regional currencies were pressured by safe-haven flows into the U.S. dollar.
Zacks.com featured highlights include: Bristol-Myers Squibb, Vale, Gilead Sciences, Kroger and Delek Logistics Partners
Earnings yield is very important in comparing a stock with other stocks and with fixed income securities. A stock with higher earnings yield fetches better returns.
Mining companies should be required to buy private insurance for tailings dams and their board of directors should be held legally responsible for any disasters, a coalition of 140 environmental groups said in a report published on Tuesday. Earthworks and MiningWatch Canada, two prominent environmental nonprofits, co-wrote the report https://earthworks.org/safety-first that includes 16 recommendations they hope will be adopted by regulators across the world and used by bankers as they consider whether to lend to miners. Tailings dams, which are embankments constructed near mines to store mining waste in a liquid or solid form, can sometimes tower dozens of meters high and stretch for several kilometers.
Brazilian miner Vale SA has signed an agreement on monitoring for possible coronavirus cases at its Itabira complex, a major iron ore production facility temporarily shuttered earlier this month out of health concerns, authorities said on Thursday. A number of sanitary measures including testing all workers every 21 days were agreed with labor prosecutors in Minas Gerais state and with a local court, the authorities said, adding that Vale now had 15 days to draw up the details of a virus mitigation plan. Prosecutors will use reports the company has agreed to produce regularly to decide on possible new actions at the complex, where changes in production levels can potentially affect iron ore prices internationally.
The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry commodities around the world, posted its biggest weekly gain ever, underpinned by a rebound in global commodities trading as iron ore demand from China picked up. "Most of the strength is due to increased Chinese steel mill demand for iron ore coupled with the increased production and exports out of Brazil," said Randy Giveans, vice-president, equity research, at Jefferies. Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes, including iron ore and coal, increased by $231 to $25,511.
Vale (VALE) is gearing up to resume operations at Voisey's Bay mine in Canada, which had been moved to care and maintenance in March amid the coronavirus crisis.
ST. JOHN'S, NL, June 18, 2020 /CNW/ - Vale S.A. ("Vale") informs that it has moved from care and maintenance into a planned maintenance period at the Voisey's Bay Mine in Labrador, Canada as a first step to resuming operations in early July. This includes restarting critical path activities related to the Voisey's Bay Mine Expansion Project. In line with World Health Organization (WHO) protocols to test, remove, track and treat positive or suspicious cases, Vale is partnering with a private testing lab in Newfoundland & Labrador to provide extensive PCR testing of all employees entering the site.
(Bloomberg) -- Vale SA, the top commercial nickel producer, will resume operations next month at its Voisey’s Bay mine in Canada after halting work to monitor the coronavirus outbreak.Production at the nickel-cobalt-copper mine in Labrador is expected to restart early July and reach full capacity by early August, the Rio de Janeiro-based company said in a statement Thursday.Voisey’s Bay was placed on care and maintenance in mid-March as mining companies around the world paused while governments implemented measures to stem the spread of the disease. Its resumption comes as economies begin to reopen and prices of steel-making inputs recover.The restart of Voisey’s Bay may be more significant for the copper market than nickel. Vale continued processing nickel inventories during the mining shutdown but didn’t have enough stockpiles to keep supplying copper, BMO analyst Edward Sterck said in a report.Vale is partnering with a private testing lab in Newfoundland & Labrador to provide testing of all employees entering the site. There have been no cases of Covid-19 to date at the site, Vale said.“Vale remains firm in its commitment to the safety of its people and the communities in which it operates and will continue to consult and cooperate with local health authorities to establish world-class initiatives in the fight against Covid-19,” the company said.The resumption includes restarting critical path activities related to an expansion project.The announcement comes a day after Vale said it got approval to resume operations at three iron-ore mines in southern Brazil after authorities approved its revised Covid-19 protocols.(Adds comment on copper and nickel markets in fourth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Vale (VALE) issues a level one emergency alert for three inactive dams in Brazil as a preventive measure and affirms production outlook for 2020.
Concerns over worsening coronavirus situation in Brazil likely to lead to a supply crunch for iron ore as demand in China remains strong have driven iron prices north.
On April 3, the Vale COVID-19 challenge was launched in Canada to help propel innovative COVID-19 solutions developed by companies, startups, institutions, universities or professionals into the marketplace by offering financial support of up to USD $1M. A total of nearly 1,800 solutions were submitted globally, of which over 300 came from within Canada.
Brazilian state prosecutors filed a lawsuit on Tuesday requesting that miner Anglo American PLC's <AAL.L> licence to expand a mining dam be suspended, following a fatal mining disaster last year. The state of Minas Gerais passed a law last year commonly called "Sea of Mud, Never Again" to change mining rules following the collapse of a dam at a Vale SA <VALE3.SA> facility that released a torrent of mining waste, killing at least 270 people. Based on that law, Minas Gerais prosecutors are seeking to block the planned expansion in capacity of Anglo's Minas-Rio facility, which includes raising the height of a dam that contains mining tailings.
* Brazil confirms first coronavirus case in LatAm * Brazilian stocks eye worst day in more than 33 months * Mexico central bank cuts 2020 growth forecast * Argentine peso hits six-month low (Adds Brazil's movement, market strategist comments, updates prices throughout) By Shreyashi Sanyal Feb 26 (Reuters) - Brazil's real touched a record low on Wednesday as traders returned from the Carnival holiday only to be alarmed by concerns about the spread of the new coronavirus after Sao Paulo confirmed its first case. "Brazil is trying to catch up to all the drops we have seen in the global market and with the new case that came out, put all that together and you expect this type of reaction to show up," said Gaurav Mallik, chief portfolio strategist at State Street Global Advisors in Boston.
While the prices of most major commodities are wilting in the face of the coronavirus spreading out of China, iron ore is rallying, proving that supply disruptions can overcome the bearish sentiment over the economic fallout of the epidemic. Spot iron ore has rallied 14% since hitting a low of $79.85 a tonne on Feb. 3, closing at $90.85 on Monday, according to commodity price reporting agency Argus. Chinese iron ore futures on the Dalian Commodity Exchange enjoyed their longest winning streak in four years, rising 16.6% from a closing low of 580 yuan ($82.50) a tonne on Feb. 10 to end at 676 yuan on Monday.
Brazil's real came off all-time lows to rise for the first time in five sessions, up 0.2%. Crude exporter Colombia's peso rallied 0.7%, despite falling oil prices, while higher copper prices helped the Chilean peso recover from a 1.4% slide in the previous session.