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Vale Surging On High Volume (VALE)
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Posted on 02/09/10 at 4:43pm by Bud Fox
Brazilian mining conglomerate Vale (NYSE: VALE) is climbing higher today on above average volume. The trend in commodity stocks has been down over the last month, but these names have seen an influx of buyers today. Vale (VALE) has moved 4.29% higher to $26.27. Over 25 million shares have traded hands versus a daily average of 23 million.
Vale is expected to report its quarterly earnings tomorrow. Analysts consensus estimates are that the company will report earnings per share of $0.32 on $6.44 billion.
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