Vale Stock (NYSE:VALE), Trade Ideas

Vale

Vale is a large global miner and the world's largest producer of iron ore and pellets. In recent years the company has sold noncore assets such as its fertilizer, coal, and steel operations to concentrate on iron ore, nickel, and copper. Earnings are dominated by the bulk materials division, primarily iron ore and iron ore pellets. The base metals division is much smaller, consisting of nickel mines and smelters along with copper mines producing copper in concentrate. Vale has agreed to sell a minority 13% stake in energy transition metals, its base metals business, which is expected to become effective in 2024, and which is likely the first step in separating base metals and iron ore.

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Saudi Arabia&#39;s Manara Minerals is reportedly in advanced talks to acquire a minority stake in Pakistan&#39;s Reko Diq gold and copper mine project. The project, located in the commodity-rich province of Balochistan, is on track to start production by 2028.

Saudi Arabia Near Deal For Stake In Gold, Copper Mine Project In Pakistan&#39;s Troubled Province

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The &#34;Mad Money&#34; host recommended buying some Marvell Technology, and then wait until under $60 to buy the rest.

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President Biden announces new tariffs on Chinese steel and aluminum imports to protect American manufacturing jobs, while Compania de Minas Buenaventura meets production targets and Vale reports increased iron ore and copper output.

Biden&#39;s 25% China Tariff; Royal Gold Issues 2024 Guidance; Vale Reports Q1 Production And More: Wednesday&#39;s Top Mining Stories

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High-rolling investors have positioned themselves bullish on Vale (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>), and it's important for retail traders to take note. 
\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in VALE often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for Vale. This is not a typical pattern.
The sentiment among these major traders is split, with 37% bullish and 37% bearish. Among all the options we identified, there was one put, amounting to $30,030, and 7 calls, totaling $331,030.
<h3>What's The Price Target?</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $1.0 to $15.0 for Vale over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Vale's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Vale's substantial trades, within a strike price spectrum from $1.0 to $15.0 over the preceding 30 days.
<h3>Vale Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713899737_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>VALE</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>07/19/24</td>
<td>$11.1</td>
<td>$11.0</td>
<td>$11.05</td>
<td>$1.00</td>
<td>$66.3K</td>
<td>410</td>
<td style="text-align: right;">100</td>
</tr>
<tr>
<td>VALE</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$11.3</td>
<td>$11.25</td>
<td>$11.3</td>
<td>$1.00</td>
<td>$56.5K</td>
<td>410</td>
<td style="text-align: right;">160</td>
</tr>
<tr>
<td>VALE</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$11.3</td>
<td>$11.25</td>
<td>$11.27</td>
<td>$1.00</td>
<td>$56.3K</td>
<td>410</td>
<td style="text-align: right;">230</td>
</tr>
<tr>
<td>VALE</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$13.25</td>
<td>$10.65</td>
<td>$11.25</td>
<td>$1.00</td>
<td>$51.7K</td>
<td>1.7K</td>
<td style="text-align: right;">46</td>
</tr>
<tr>
<td>VALE</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>07/19/24</td>
<td>$11.1</td>
<td>$11.0</td>
<td>$11.05</td>
<td>$1.00</td>
<td>$44.2K</td>
<td>410</td>
<td style="text-align: right;">40</td>
</tr>
</tbody>
</table>

<h3>About Vale</h3>
Vale is a large global miner and the world's largest producer of iron ore and pellets. In recent years the company has sold noncore assets such as its fertilizer, coal, and steel operations to concentrate on iron ore, nickel, and copper. Earnings are dominated by the bulk materials division, primarily iron ore and iron ore pellets. The base metals division is much smaller, consisting of nickel mines and smelters along with copper mines producing copper in concentrate. Vale has agreed to sell a minority 13% stake in energy transition metals, its base metals business, which is expected to become effective in 2024, and which is likely the first step in separating base metals and iron ore.
Following our analysis of the options activities associated with Vale, we pivot to a closer look at the company's own performance.
<h3>Vale's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 25,204,551, the VALE's price is up by 0.45%, now at $12.26. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 1 days.</li>
</ul>
<h3>What Analysts Are Saying About Vale</h3>
In the last month, 4 experts released ratings on this stock with an average target price of $16.5.
<ul>
<li>An analyst from Barclays has decided to maintain their Overweight rating on Vale, which currently sits at a price target of $17. </li>
<li>An analyst from JP Morgan has decided to maintain their Overweight rating on Vale, which currently sits at a price target of $20. </li>
<li>Maintaining their stance, an analyst from Deutsche Bank continues to hold a Hold rating for Vale, targeting a price of $16. </li>
<li>An analyst from B of A Securities has revised its rating downward to Neutral, adjusting the price target to $13. </li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Vale with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

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Vale Options Trading: A Deep Dive into Market Sentiment

Saudi Arabia's Manara Minerals is reportedly in advanced talks to acquire a minority stake in Pakistan&#8217;s Reko Diq gold and <a href="https://www.benzinga.com/topic/copper">copper</a> mine project. The project, located in the commodity-rich province of Balochistan, is on track to start production by 2028.
According <a href="https://www.bloomberg.com/news/articles/2024-04-18/saudi-arabia-moves-closer-to-1-billion-barrick-pakistan-deal">to</a> Bloomberg and the state-run Radio Pakistan, the official announcement could come within a few weeks. Pakistan's Special Investment Facilitation Council, which was set up last year to revive the economy, is reportedly working on the deal.
The current ownership structure of Reko Diq sees Barrick Gold Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) holding a 50% stake, with the remaining 50% divided between the federal government of Pakistan (25%) and the Balochistan provincial government (25%). Although Manara&#8217;s entry would dilute ownership somewhat, Barrick's CEO Mark Bristow expressed openness to Saudi Arabia acquiring Pakistan&#8217;s stake.
Now Read:<a href="https://www.benzinga.com/news/24/04/38313888/new-canadian-budget-deemed-mixed-bag-for-mining-sector"> New Canadian Budget Deemed Mixed Bag For Mining Sector</a>
Manara Minerals is a joint effort between the Saudi Public Investment Fund (PIF) and the state-owned mining company Ma'aden. Formed in 2023, the company takes minority equity positions as a non-operating partner in projects connected to commodities such as iron ore, copper, nickel and lithium. 
Its notable investment is a <a href="https://www.benzinga.com/markets/equities/23/07/33446973/vale-divests-13-interest-in-base-metals-business-for-3-4b">13% stake</a> in Vale's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>) base metals business, estimated at $3.4 billion. Currently, the company is exploring an investment in First Quantum Mineral&#8217;s (OTCPK: FQVLF) <a href="https://www.benzinga.com/m-a/24/04/38318235/rio-tinto-saudis-manara-emerge-as-likely-bidders-for-first-quantums-zambian-assets-report">Zambian copper mines</a>.
The project&#8217;s location in Pakistan&#8217;s largest and resource-rich province introduces complexity. Balochistan has a long history of separatist movements fueled by a perception of central government resource exploitation. Poverty rates significantly exceed the national average, and the province has witnessed several armed uprisings since Pakistan&#8217;s independence in 1947.
Baloch nationalists and local communities fear that the Reko Diq project could repeat past patterns, where resource wealth enriches external stakeholders while leaving them with minimal economic benefits and negative externalities like environmental degradation. 
While the financial benefits are undeniable, neglecting to address the underlying grievances in the province could exacerbate existing tensions. A resource project perceived as enriching outsiders without delivering tangible improvements for Baloch communities could reignite separatist movements.
Still, Saudi's involvement could be a winner, as it would unlock significant capital for project development, expediting the process at favorable times in the new commodity cycle. Furthermore, the cooperation would further strengthen Pakistani relations with Saudi Arabia — its important economic and military ally.
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get started!
Also Read:<a href="https://www.benzinga.com/markets/commodities/24/04/38295033/rio-tintos-next-chief-commercial-officer-says-building-mines-is-better-than-buying-heres-how-"> </a><a href="https://www.benzinga.com/markets/commodities/24/04/38295033/rio-tintos-next-chief-commercial-officer-says-building-mines-is-better-than-buying-heres-how-">Rio Tinto&#8217;s Next Chief Commercial Officer Says Building Mines Is Better Than Buying: Here&#8217;s How Long It Takes</a>
Photo: Valley of Copper in Chagai district, Balochistan, Pakistan, <a href="https://www.shutterstock.com/g/Salik+Javed">Salik Javed</a> via Shutterstock

Saudi Arabia Near Deal For Stake In Gold, Copper Mine Project In Pakistan's Troubled Province

On <a href="https://www.benzinga.com/topic/mad-money">CNBC's &#8220;Mad Money Lightning Round,&#8221;</a> Jim Cramer recommended holding ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>)
Rhythm Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RYTM#NASDAQ">RYTM</a>) is a &#8220;speculative play,&#8221; Cramer said, &#8220;I am not against speculating biotechs right now. Looks like that there are so many bids, I'm willing to let a stock catch fire.&#8221;
The &#8220;Mad Money&#8221; host recommended buying some Marvell Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) and then wait until under $60 to buy the rest.
When asked about Enovix Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENVX#NASDAQ">ENVX</a>), he said, &#8220;You got to be making some money in that business. If you're not making any money in that business, then I can't say to buy the stock.&#8221;
Cramer said he likes Lam Research Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) very much. &#8220;I do think that right now we're having a pause in that group,&#8221; he added. &#8220;Let's wait until that stock goes lower, and we'll feel better.&#8221;
Aspen Aerogels, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASPN#NYSE">ASPN</a>) is &#8220;up so big, and what a great opportunity to sell the stock of a money-losing company after you've made a lot of money,&#8221; Cramer said. He recommended taking the profit.
Cramer recommended not selling McKesson Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCK#NYSE">MCK</a>).
When asked about The PNC Financial Services Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>), he said, &#8220;You buy some now, and you buy some down 10%, and you will have a terrific position that will last for a very long time.&#8221;
Vale S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>) is too low to sell, Cramer said.
Price Action:
<ul>
<li>ConocoPhillips shares fell 0.4% to settle at $127.81 on Thursday.</li>
<li>Enovix shares dipped 9.4% to close at $6.01.</li>
<li>Vale shares fell 0.1% to settle at $11.84 on Thursday.</li>
<li>PNC shares gained 0.4% to close at $147.89 on Thursday.</li>
<li>McKesson shares slipped 1.4% to settle at $518.81 on Thursday.</li>
<li>Shares of Aspen Aerogels fell 1.7% to settle at $14.82 on Thursday.</li>
<li>Rhythm Pharmaceuticals shares fell 0.9% to close at $38.11 on Thursday.</li>
<li>Marvell Technology shares fell 1.9% to settle at $65.24 during Thursday's session.</li>
<li>Lam Research shares fell 2.6% to close at $888.92.</li>
</ul>
Read More: <a href="https://www.benzinga.com/news/earnings/24/04/38329059/netflix-procter-gamble-and-3-stocks-to-watch-heading-into-friday">Netflix, Procter &amp; Gamble And 3 Stocks To Watch Heading Into Friday</a>
Image: Shutterstock

Jim Cramer Is 'Willing To Let This Pharma Stock Catch Fire,' Advises Not To Sell McKesson

<h1 class="wp-block-heading">Top Stories for April 17, 2024:</h1>
<ol>
<li>During a visit to Pittsburgh, President Joe Biden plans to announce <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38292245/biden-to-announce-tariff-hikes-on-chinese-steel-aluminum-imports-another-hit-to-rea">new trade policies</a> aimed at boosting the U.S. steel sector by imposing a 25% tariff on certain Chinese steel and aluminum imports.</li>
</ol>
The move seeks to protect American manufacturing jobs from China&#8217;s "unfair" trade practices by more than tripling U.S. tariffs to 25% for some products and increasing others from 0% or 7.5%.
U.S. Trade Representative Katherine Tai will decide the final measures after reviewing current tariffs.&nbsp;
Although Chinese steel and aluminum make up a small part of the U.S. market ($1.7 billion), these policies strive to protect American manufacturers from a potential increase in imports and competitive pressures.
<ol start="2">
<li>Royal Gold Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGLD#NASDAQ">RGLD</a>) issued its 2024 guidance, forecasting sales volumes, depreciation and amortization expense (DD&amp;A) and tax rates.&nbsp;</li>
</ol>
The company expects to sell 215,000 to 230,000 ounces of gold, 3.2 to 3.8 million ounces of silver, 14 million to 16 million pounds of copper and other metals worth $17 million to $20 million.&nbsp;
DD&amp;A expenses are projected to be between $141 million to $157 million, with an effective tax rate of 17% to 22%.
Given commodity price volatility, the guidance aims to enhance transparency by focusing on physical sales and royalty revenues instead of revenue conversion to gold equivalent ounces.
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38292100/freeport-mcmoran-vs-teck-resources-which-copper-stock-has-more-upside">Freeport-McMoRan Vs. Teck Resources — Which Copper Stock Has More Upside?</a>
<ol start="3">
<li>Vale&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>) first-quarter performance featured a 15% year-over-year increase in iron ore sales at 63.8 metric tons, with production up 6% to 70.8 metric tons due to improved operations at S11D and other initiatives.&nbsp;</li>
</ol>
Pellet production rose 2% to 8.5 metric tons while copper output grew 22% to 81.9 kilotons, mainly from the Salobo 3 ramp-up.&nbsp;
However, nickel production fell 4% to 39.5 kilotons, primarily due to the Onça Puma furnace rebuild, though this was partly mitigated by better output in Canada and Indonesia.
<ol start="4">
<li>Compania de Minas Buenaventura (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BVN#NYSE">BVN</a>) announced first-quarter results with several production targets met or exceeded.&nbsp;</li>
</ol>
Tambomayo surpassed gold, lead and zinc projections due to mining in higher-grade areas, though silver production was lower.&nbsp;
Gold production at Orcopampa and Coimolache aligned with expectations, with Coimolache also facing delays from environmental permitting issues.&nbsp;
Julcani and Uchucchacua met their production targets for silver, lead and zinc, while Yumpag started silver processing earlier than anticipated after receiving operational permits.&nbsp;
El Brocal&#8217;s copper production was on target, with higher silver output and lower zinc grades. Its lead and zinc operations are under maintenance, aiming for an underground exploitation rate of 10,500 tons per day.
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/news/rumors/24/04/38279955/barrick-misses-preliminary-gold-production-estimate-management-unfazed-by-risks-in-key-african-count">Barrick Misses Preliminary Gold Production Estimate, Management Unfazed By Risks In Key African Country</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
Photo: By Asiandelight via Shutterstock

Biden's 25% China Tariff; Royal Gold Issues 2024 Guidance; Vale Reports Q1 Production And More: Wednesday's Top Mining Stories

WIIM

Vale shares are trading higher after the company reported Q1 production results.

Vale Q1 Iron Ore Production Increased 6% YoY, Copper Production Increased 22%, Nickel Decreased 4%

Barclays analyst Amos Fletcher maintains Vale (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>) with a Overweight and raises the price target from $16 to $17.

Price Target

Analyst Ratings

Barclays Maintains Overweight on Vale, Raises Price Target to $17

Whales with a lot of money to spend have taken a noticeably bearish stance on Vale.
Looking at options history for Vale (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>) we detected 18 trades.
If we consider the specifics of each trade, it is accurate to state that 33% of the investors opened trades with bullish expectations and 66% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $1,478,019 and 10, calls, for a total amount of $603,356.
<h3>Projected Price Targets</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $1.0 to $17.0 for Vale over the last 3 months. 
<h3>Volume &amp; Open Interest Trends</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Vale's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Vale's significant trades, within a strike price range of $1.0 to $17.0, over the past month.
<h3>Vale Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713213950_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>VALE</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$1.32</td>
<td>$1.22</td>
<td>$1.29</td>
<td>$12.00</td>
<td>$903.0K</td>
<td>90.7K</td>
<td>0</td>
</tr>
<tr>
<td>VALE</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$1.18</td>
<td>$1.05</td>
<td>$1.08</td>
<td>$10.00</td>
<td>$270.0K</td>
<td>14.8K</td>
<td>2.5K</td>
</tr>
<tr>
<td>VALE</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/21/24</td>
<td>$11.1</td>
<td>$11.0</td>
<td>$11.05</td>
<td>$1.00</td>
<td>$148.0K</td>
<td>692</td>
<td>234</td>
</tr>
<tr>
<td>VALE</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$0.38</td>
<td>$0.37</td>
<td>$0.37</td>
<td>$12.00</td>
<td>$112.0K</td>
<td>27.6K</td>
<td>1.2K</td>
</tr>
<tr>
<td>VALE</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/21/24</td>
<td>$11.1</td>
<td>$11.0</td>
<td>$11.05</td>
<td>$1.00</td>
<td>$110.5K</td>
<td>692</td>
<td>468</td>
</tr>
</tbody>
</table>

<h3>About Vale</h3>
Vale is a large global miner and the world's largest producer of iron ore and pellets. In recent years the company has sold noncore assets such as its fertilizer, coal, and steel operations to concentrate on iron ore, nickel, and copper. Earnings are dominated by the bulk materials division, primarily iron ore and iron ore pellets. The base metals division is much smaller, consisting of nickel mines and smelters along with copper mines producing copper in concentrate. Vale has agreed to sell a minority 13% stake in energy transition metals, its base metals business, which is expected to become effective in 2024, and which is likely the first step in separating base metals and iron ore.
After a thorough review of the options trading surrounding Vale, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Where Is Vale Standing Right Now?</h3>
<ul>
<li>With a trading volume of 30,057,962, the price of VALE is down by -0.25%, reaching $11.99.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 14 days from now.</li>
</ul>
<h3>What Analysts Are Saying About Vale</h3>
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $16.333333333333332.
<ul>
<li>An analyst from JP Morgan persists with their Overweight rating on Vale, maintaining a target price of $20. </li>
<li>An analyst from B of A Securities has revised its rating downward to Neutral, adjusting the price target to $13. </li>
<li>An analyst from Deutsche Bank has decided to maintain their Hold rating on Vale, which currently sits at a price target of $16. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Vale, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Behind the Scenes of Vale's Latest Options Trends

JP Morgan analyst Rodolfo Angele maintains Vale (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>) with a Overweight and lowers the price target from $20.5 to $20.

JP Morgan Maintains Overweight on Vale, Lowers Price Target to $20

Deep-pocketed investors have adopted a bearish approach towards Vale (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in VALE usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 14 extraordinary options activities for Vale. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 14% leaning bullish and 85% bearish. Among these notable options, 3 are puts, totaling $254,900, and 11 are calls, amounting to $697,240.
<h3>Projected Price Targets</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $1.0 to $13.0 for Vale over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Vale's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Vale's whale trades within a strike price range from $1.0 to $13.0 in the last 30 days. 
<h3>Vale Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1712856684_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>VALE</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$0.56</td>
<td>$0.5</td>
<td>$0.5</td>
<td>$8.00</td>
<td>$200.0K</td>
<td>2.9K</td>
<td>4.0K</td>
</tr>
<tr>
<td>VALE</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>07/19/24</td>
<td>$0.47</td>
<td>$0.43</td>
<td>$0.45</td>
<td>$13.00</td>
<td>$148.5K</td>
<td>661</td>
<td>3.3K</td>
</tr>
<tr>
<td>VALE</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$2.73</td>
<td>$2.69</td>
<td>$2.69</td>
<td>$10.00</td>
<td>$67.2K</td>
<td>9.2K</td>
<td>181</td>
</tr>
<tr>
<td>VALE</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/21/24</td>
<td>$11.15</td>
<td>$11.05</td>
<td>$11.1</td>
<td>$1.00</td>
<td>$55.5K</td>
<td>530</td>
<td>434</td>
</tr>
<tr>
<td>VALE</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/21/24</td>
<td>$11.15</td>
<td>$11.05</td>
<td>$11.1</td>
<td>$1.00</td>
<td>$55.5K</td>
<td>530</td>
<td>334</td>
</tr>
</tbody>
</table>

<h3>About Vale</h3>
Vale is a large global miner and the world's largest producer of iron ore and pellets. In recent years the company has sold noncore assets such as its fertilizer, coal, and steel operations to concentrate on iron ore, nickel, and copper. Earnings are dominated by the bulk materials division, primarily iron ore and iron ore pellets. The base metals division is much smaller, consisting of nickel mines and smelters along with copper mines producing copper in concentrate. Vale has agreed to sell a minority 13% stake in energy transition metals, its base metals business, which is expected to become effective in 2024, and which is likely the first step in separating base metals and iron ore.
Having examined the options trading patterns of Vale, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Present Market Standing of Vale</h3>
<ul>
<li>With a volume of 12,948,527, the price of VALE is up 0.08% at $12.16. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 13 days.</li>
</ul>
<h3>Professional Analyst Ratings for Vale</h3>
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $14.5.
<ul>
<li>An analyst from B of A Securities has revised its rating downward to Neutral, adjusting the price target to $13. </li>
<li>Maintaining their stance, an analyst from Deutsche Bank continues to hold a Hold rating for Vale, targeting a price of $16. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Vale options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Decoding Vale's Options Activity: What's the Big Picture?

4 analysts have shared their evaluations of Vale (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $16.62, a high estimate of $19.00, and a low estimate of $13.00. A decline of 12.53% from the prior average price target is evident in the current average. 
<img src="https://www.benzinga.com/files/images/story/2024/1712674827_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive Vale. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Caio Ribeiro</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$13.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Liam Fitzpatrick</td>
<td>Deutsche Bank</td>
<td>Lowers</td>
<td>Hold</td>
<td>$16.00</td>
<td>$18.00</td>
</tr>
<tr>
<td>Marina Calero</td>
<td>RBC Capital</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$18.50</td>
<td>$19.00</td>
</tr>
<tr>
<td>Marina Calero</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$19.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Vale. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Vale compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Vale's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Vale's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/VALE/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Vale analyst ratings.</a>
<h2>Delving into Vale's Background</h2>
Vale is a large global miner and the world's largest producer of iron ore and pellets. In recent years the company has sold noncore assets such as its fertilizer, coal, and steel operations to concentrate on iron ore, nickel, and copper. Earnings are dominated by the bulk materials division, primarily iron ore and iron ore pellets. The base metals division is much smaller, consisting of nickel mines and smelters along with copper mines producing copper in concentrate. Vale has agreed to sell a minority 13% stake in energy transition metals, its base metals business, which is expected to become effective in 2024, and which is likely the first step in separating base metals and iron ore.
<h3>Vale's Financial Performance</h3>
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Positive Revenue Trend: Examining Vale's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 22.88% as of 31 December, 2023, showcasing a substantial increase in top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Materials sector.
Net Margin: Vale's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 18.52%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Vale's ROE excels beyond industry benchmarks, reaching 6.24%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Vale's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 2.64%, the company showcases efficient use of assets and strong financial health.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.43.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Unveiling 4 Analyst Insights On Vale

B of A Securities analyst Caio Ribeiro downgrades Vale (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>) from Buy to Neutral and lowers the price target from $20 to $13.

Downgrades

B of A Securities Downgrades Vale to Neutral, Lowers Price Target to $13

Shares of several iron ore-related companies are trading higher amid strength in iron ore futures on hopes Chinese demand will improve.

Whales with a lot of money to spend have taken a noticeably bearish stance on Vale.
Looking at options history for Vale (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>) we detected 16 trades.
If we consider the specifics of each trade, it is accurate to state that 43% of the investors opened trades with bullish expectations and 56% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $1,183,000 and 14, calls, for a total amount of $844,688.
<h3>What's The Price Target?</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $1.0 to $14.0 for Vale over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Vale's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Vale's whale trades within a strike price range from $1.0 to $14.0 in the last 30 days. 
<h3>Vale Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1712596583_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>VALE</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$1.89</td>
<td>$1.75</td>
<td>$1.82</td>
<td>$12.00</td>
<td>$728.0K</td>
<td>28.7K</td>
<td>3</td>
</tr>
<tr>
<td>VALE</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$1.89</td>
<td>$1.73</td>
<td>$1.82</td>
<td>$12.00</td>
<td>$455.0K</td>
<td>28.7K</td>
<td>6.5K</td>
</tr>
<tr>
<td>VALE</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$0.21</td>
<td>$0.2</td>
<td>$0.2</td>
<td>$14.00</td>
<td>$199.9K</td>
<td>14.9K</td>
<td>10.0K</td>
</tr>
<tr>
<td>VALE</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$11.5</td>
<td>$11.45</td>
<td>$11.49</td>
<td>$1.00</td>
<td>$57.4K</td>
<td>0</td>
<td>480</td>
</tr>
<tr>
<td>VALE</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$11.5</td>
<td>$11.45</td>
<td>$11.49</td>
<td>$1.00</td>
<td>$57.4K</td>
<td>0</td>
<td>380</td>
</tr>
</tbody>
</table>

<h3>About Vale</h3>
Vale is a large global miner and the world's largest producer of iron ore and pellets. In recent years the company has sold noncore assets such as its fertilizer, coal, and steel operations to concentrate on iron ore, nickel, and copper. Earnings are dominated by the bulk materials division, primarily iron ore and iron ore pellets. The base metals division is much smaller, consisting of nickel mines and smelters along with copper mines producing copper in concentrate. Vale has agreed to sell a minority 13% stake in energy transition metals, its base metals business, which is expected to become effective in 2024, and which is likely the first step in separating base metals and iron ore.
Having examined the options trading patterns of Vale, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Vale's Current Market Status</h3>
<ul>
<li>With a volume of 37,682,285, the price of VALE is up 2.2% at $12.06. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 16 days.</li>
</ul>
<h3>Professional Analyst Ratings for Vale</h3>
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $16.0.
<ul>
<li>An analyst from Deutsche Bank has decided to maintain their Hold rating on Vale, which currently sits at a price target of $16. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Vale, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Top Stories for April 4, 2024:
<ol>
<li>Radius Recycling (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDUS#NASDAQ">RDUS</a>) reported a fiscal second-quarter loss of $34 million (per-share loss of $1.19), adjusted EBITDA of $3 million and per-share loss of $1.04 <a href="https://www.benzinga.com/news/earnings/24/04/38088715/schnitzer-steel-q2-adj-1-04-beats-1-09-estimate-sales-621-06m-miss-626-15m-estimate">from continuing operations</a>. </li>
</ol>
The company faced challenges in the quarter due to tight recycled metal supplies, adverse weather and low U.S. manufacturing activity.&nbsp;
Ferrous sales dropped 15% quarter-over-quarter, nonferrous sales fell 3% but grew 7% year-over-year and finished steel sales rose 5% year-over-year but fell 11% quarter-over-quarter.&nbsp;
The company initiated a plan to cut SG&amp;A by 10% and improve production efficiency, aiming for $40 million in annual benefits and adding to a prior $30 million benefits plan.
<ol start="2">
<li>American Battery Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABAT#NASDAQ">ABAT</a>) was granted an additional $40.5 million through the 48C program for a new battery recycling facility in the U.S., adding to an initial $20 million tax credit for a Nevada project.&nbsp;</li>
</ol>
This award comes from a competitive process by the U.S. Department of Energy to support the company's efforts in low-cost, environmentally friendly lithium-ion battery recycling and the production of recycled battery materials.&nbsp;
CEO Ryan Melsert mentioned extensive engagement with major automotive and battery manufacturers and plans for this new facility to increase domestic critical battery mineral manufacturing, leveraging the new government-supported investment.
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/markets/commodities/24/04/38079319/gold-fields-celebrates-first-gold-pour-at-salares-norte-boosts-chilean-production-outlook">Gold Fields Celebrates First Gold Pour At Salares Norte, Boosts Chilean Production Outlook</a>
<ol start="3">
<li>Nexa Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEXA#NYSE">NEXA</a>) priced a $600-million offering of 6.75% senior unsecured notes guaranteed by two subsidiaries due in 2034, aiming for an April 9, 2024, closing. </li>
</ol>
The proceeds are mainly intended to fund a cash tender offer for existing notes due in 2027 and 2028, with any remainder for general corporate purposes.&nbsp;
The sale is targeting qualified institutional buyers and non-U.S. persons.
<ol start="4">
<li>Large investors are showing a predominantly bearish stance on Newmont (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), as revealed by Benzinga&#8217;s tracking of public options activities, which detected unusual activity of nine notable transactions.&nbsp;</li>
</ol>
The sentiment among these investors is mixed, with 44% bullish and 55% bearish. The trading involved two puts worth $250,920 and seven calls valued at $805,535, suggesting an expected price range for Newmont of $30 to $42.50 in the coming three months.
<ol start="5">
<li>Deutsche Bank analyst Liam Fitzpatrick maintained Vale S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>) with a Hold and lowered his <a href="https://www.benzinga.com/quote/VALE/analyst-ratings">price target</a> from $18 to $16.</li>
</ol>
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Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
Illustration created using artificial intelligence via MidJourney.

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Deutsche Bank analyst Liam Fitzpatrick maintains Vale (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>) with a Hold and lowers the price target from $18 to $16.

Deutsche Bank Maintains Hold on Vale, Lowers Price Target to $16

Iron ore prices were boosted by hopes of an industrial recovery in China following data that showed improving activity in the country&#8217;s manufacturing sector.
Singapore iron ore 58% futures rose 3.8% on Monday, reversing earlier losses that took the prices nearly 4% lower, while futures on the Dalian exchange in China ended 3.8% higher. However, iron ore futures on the Chicago Mercantile Exchange (CME) fell 0.3%. 
The catalyst for the gains in Asia appeared to be data from the latest purchasing manager index (PMI) survey on <a href="https://www.benzinga.com/markets/asia/24/04/38021682/chinas-march-manufacturing-growth-could-dump-into-global-markets-thus-triggering-deflation-expert-wa">China&#8217;s manufacturing sector</a> that showed further improvement in economic activity during the first quarter.
This was driven by greater inflows of new work, including from overseas, which helped increase production and levels of purchasing of raw materials. The March Caixin PMI rose to 51.1, up from 50.9 in the previous month, and marked the fifth-successive monthly improvement.
Dr. Wang Zhe, senior economist at Caixin Insight Group, said: &#8220;Overall, the manufacturing sector continued to improve in March, with expansion in supply and demand accelerating, and overseas demand picking up. 
&#8220;Manufacturers increased purchases and raw material inventories amid continued improvement in business optimism.&#8221;
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<h1 class="wp-block-heading">Construction: Thorn In The Side For Steel Producers</h1>
That said, construction — a key industry for the demand dynamics of steel products — remains subdued, with China still facing a sharp slowdown in the property sector.
Meanwhile, the inventory of steel in Chinese ports was at its highest level in more than a year, according to <a href="https://www.bloomberg.com/news/articles/2024-04-01/iron-ore-sinks-to-10-month-low-on-gloom-over-china-construction?srnd=homepage-americas&amp;sref=TBDibEcD">data</a> by Bloomberg, with around 143 tons in reserve.
This was reflected by the sharp losses seen for iron ore in recent months. Singapore futures were down 20% since the start of 2024, while CME futures were down 19.7% since the start of the year.
This was also knocked-on to the iron ore miners and steel refiners, and the exchange-traded funds that hold their stocks.
The VanEck Steel ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLX#NYSE">SLX</a>), was up 0.4% on Monday but is down 1.3% in 2024. Its top two holdings are Rio Tinto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) and Vale (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>). Rio was up 0.7% on Monday, but remained 13.8% lower in 2024, while Vale fell 0.9% on Monday, and was down 24% on the year.
The broader SPDR S&amp;P Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>) was up 0.9% on Monday and up 1.23 in 2024. Its top two holdings are Freeport McMoRan Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) and Steel Dynamics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>). 
Freeport specializes in copper and gold, which — <a href="https://www.benzinga.com/topic/gold">particularly gold</a> — have performed relatively well this year, was up 1.3% on Monday and is up 11.7% in 2024. Steel Dynamics was up 1.2% on Monday and is up 27 on the year.
Read Now: <a href="https://www.benzinga.com/markets/equities/24/04/38025851/turkish-stock-markets-welcome-change-will-erdo-an-defeat-prompt-economic-reforms">Turkish Stock Markets Welcome Change: Will Erdoğan Defeat Prompt Economic Reforms?</a>
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Large Cap

Sector ETFs

Economics

ETFs

General

STLD

Miners Cheer As China's Manufacturers Continue To Increase Pace

Vale's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>) short percent of float has fallen 11.71% since its last report. The company recently reported that it has 42.52 million shares sold short, which is 0.98% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.44 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Vale Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1711572307_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Vale has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Vale's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Vale's peer group average for short interest as a percentage of float is 4.66%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

(VALE) - Analyzing Vale's Short Interest

Top Stories for March 26, 2024:
1. TMC The Metals Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMC#NASDAQ">TMC</a>) reported Q4 and FY <a href="https://www.benzinga.com/insights/earnings/24/03/37922973/tmc-metals-q4-earnings-insights">2023 financial results</a>. 
The company saw Q4 operational cash usage of $15.2 million and a quarterly net loss of $33.5 million (11 cents per share).
For 2023, TMC reported an annual loss of $73.8 million (26 cents per share), improving from 2022&#8217;s $171 million loss.&nbsp;
As of Dec. 31 2023, the company had $6.8 million in cash, with total liquidity of about $61 million, including upcoming proceeds and credit facilities. 
CEO Gerard Barron highlighted TMC's progress in marine research, with encouraging findings on the impact of nodule collection on the seafloor ecosystem, and noted positive developments in U.S. policies and international interest in deep-sea mining.
2. Ampco-Pittsburgh Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AP#NYSE">AP</a>) also reported Q4 and FY 2023 results.
The company saw a 16% increase in Q4 sales and an 8% increase in annual sales, with the Air and Liquid Processing segment jumping 35% in Q4 and 31% annually.&nbsp;
Ampco saw record sales in the Air and Liquid segment, increased forged roll shipments and higher pricing, despite a decrease in certain product shipments.
Despite a $34.6 million operational loss in 2023 due to a $40.9 million asbestos-related charge, non-GAAP adjusted income from operations improved by $4.5 million from 2022.&nbsp;
The company also completed its U.S. forged business equipment modernization program in early 2024.
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37868388/3-top-stock-picks-in-metals-mining-sector-to-consider-right-now">3 Top Stock Picks In Metals, Mining Sector To Consider Right Now</a>
3. Vale's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>) U.S. subsidiary is set to <a href="https://www.benzinga.com/news/24/03/37934431/vales-partnership-with-doe-signals-domestic-shift-toward-sustainable-steel-production">negotiate funding</a> with the Department of Energy for an innovative iron ore briquette facility in the U.S., leveraging a unique cold-agglomeration process. 
This initiative is aimed at reducing emissions in hard-to-abate sectors and marks a significant step in commercializing technology developed over 20 years at Vale's Brazilian tech center.&nbsp;
The project, aligning with Vale's decarbonization goals for the steel industry, could receive up to $282.9 million in funding.&nbsp;
Vale plans to expand its production of agglomerates globally, targeting 100 metric tons per year by 2030+, contributing to its commitment to reduce emissions in line with the Paris Agreement.
4. Atlas Lithium (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATLX#NASDAQ">ATLX</a>), a company aiming to capitalize on lithium reserves in Brazil's Lithium Valley, which is estimated to hold 85% of the country's reserves, announced a new chief operating officer. 
The company appointed industry veteran Brian Talbot as COO and Board member, starting April 1, 2024. 
Talbot brings over 30 years of experience in mining, including DMS plant development and operations at other lithium companies.
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/markets/esg/24/03/37914506/bidens-475m-for-mining-aims-to-power-communities-hit-hardest-by-our-evolving-energy-landscape">Biden&#8217;s $475M For Mining Aims To Power Communities &#8216;Hit Hardest By Our Evolving Energy Landscape&#8217;</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
Image generated using artificial intelligence with Midjourney.

Earnings

ATLX

TMC, Ampco Report Financial Results; Vale To Negotiate DOE Funding And More: Tuesday's Top Mining Stories

Brazilian mining giant Vale (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>) has announced a deal with the Department of Energy (DOE) to develop a new <a href="https://www.benzinga.com/money/best-iron-stocks">iron ore briquette plant in the U.S.</a> 
The DOE has selected the project for potential financing of up to $282.9 million, underscoring a growing domestic commitment to innovative technologies aimed at reducing carbon emissions and strengthening the<a href="https://www.benzinga.com/topic/clean-energy"> clean energy sector</a>.
The Biden administration <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/03/11/fact-sheet-the-presidents-budget-creates-good-paying-clean-jobs-cuts-energy-costs-and-delivers-on-the-presidents-ambitious-climate-agenda/">allocated</a> substantial funds towards environmental programs, including over $2.9 billion for climate-related initiatives for the Environmental Protection Agency (EPA) and $10.6 billion for DOE climate and clean energy research. 
Such investments pave the way for transformative technologies like the iron ore briquette, which has the potential to reduce emissions by up to 10% compared to traditional steelmaking processes.
Central to this endeavor is the <a href="https://vale.com/w/brazilian-innovation-recognized-vale-is-selected-by-the-us-government-to-begin-award-negotiations-for-a-briquette-plant/-/categories/1968809">development</a> of iron ore briquettes—a product generated through the low-temperature agglomeration of high-quality iron ore. 
These briquettes offer a sustainable alternative to traditional steelmaking processes that typically use sinters, pellets, and granules. 
Not only do they cut greenhouse gas emissions, but they also emit fewer particulates and gases such as sulfur dioxide and nitrogen oxide.
See Also: <a href="https://www.benzinga.com/markets/esg/24/03/37914506/bidens-475m-for-mining-aims-to-power-communities-hit-hardest-by-our-evolving-energy-landscape">Biden&#8217;s $475M For Mining Aims To Power Communities &#8216;Hit Hardest By Our Evolving Energy Landscape&#8217;</a>
Vale&#8217;s foray into the realm of iron ore briquettes began with the inauguration of its first plant in Brazil in December.
&#8220;The interest shown by clients makes us confident that briquettes are here to revolutionize steel production,&#8221; <a href="https://vale.com/w/revolution-in-the-global-steel-industry-vale-inaugurates-the-worlds-first-briquette-plant-in-vitoria-brazil/-/categories/1968809">said</a> Vale's Executive VP, Marcello Spinelli, who explained the transitional process.
"The decarbonization of the steel industry will take place in stages. In the first, our clients are looking for ways to increase operational efficiency in the blast furnace route, reducing energy expenditure and, consequently, reducing CO2 emissions. At this stage, the briquette already makes a difference. And in the final stage, when green hydrogen will be available, the briquette will contribute to the production of zero-emission steel, which will be done through the direct reduction route, considered &#8216;cleaner&#8217; than the blast furnace, &#8221; he said.
With plans to ramp up production at its Tubarão plants, reaching a capacity of 6 million tons per year, the company is poised to meet growing demand for environmentally friendly steel production methods. 
So far, the management has set a target to reduce scope 3 emissions by 15% by 2035. With decarbonization solution agreements signed with more than 50 clients, Vale is on the right path to becoming one of the main beneficiaries of the steel industry decarbonization.
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get started!
Now Read: <a href="https://www.benzinga.com/news/24/03/37923760/cleveland-cliffs-secures-575m-for-renewable-powered-steel-production-critical-for-the-industrial-mig">Cleveland-Cliffs Secures $575M For Renewable-Powered Steel Production Critical For &#8216;The Industrial Might Of The US&#8217;</a>
Image: Unsplash

Financing

Vale's Partnership With DOE Signals Domestic Shift Toward Sustainable Steel Production

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Iron ore prices surge as Fortescue shipments slide on derailment, weather

Vale SA (VALE) has released an update. Vale S.A., a major player in the global mining industry, has filed its monthly report with the U.S. Securiti...

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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
In a bull market, the role of <a href="https://investorplace.com/stock-types/blue-chip-stocks/">blue-chip stocks</a> is often understated. Investors look for <a href="https://investorplace.com/stock-types/growth-stocks/">growth stocks</a> with millionaire-maker potential. However, when markets are volatile or trending lower, blue-chip stocks are a fortress for the portfolio. With relatively volatile market conditions, this column discusses three undervalued blue-chip <a href="https://investorplace.com/stock-types/dividend-stocks/">dividend stocks</a> to consider.



It&rsquo;s worth noting that inflation continues to dampen investor sentiment. Interest rate cuts will likely be delayed as inflation remains stubborn. Equities like expansionary policies and a delay in rate cuts might imply some correction. The S&amp;P 500 index has declined by 2.8% in the last month.



Therefore, I would look at increasing exposure to high-quality, undervalued blue-chip dividend stocks. Also, it&rsquo;s a bonus if it&rsquo;s a low-price blue chip. Investors can create a diversified portfolio even with small capital. Let&rsquo;s discuss the blue-chip stocks with limited downside but significant upside potential from depressed levels.



<h2>AT&amp;T (T)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/att-t-stock1600-300x169.png" alt="AT&amp;T Retail cell phone and mobility store. T stock"><div>Source: Jonathan Weiss / Shutterstock.com</div></div>AT&amp;T (NYSE:<a href="https://investorplace.com/stock-quotes/t-stock-quote/">T</a>) stock has remained depressed for an extended period. However, at a forward price-earnings ratio of 7.4, I don&rsquo;t see further downside for T stock. On the contrary, with positive business metrics, a breakout on the upside seems likely. It&rsquo;s worth noting that T stock offers an attractive dividend yield of 6.8%.



An important point is that AT&amp;T has made some big investments in the last five years, focusing on its wireline and wireless network. The investments have also implied that AT&amp;T is significantly leveraged.



The company&rsquo;s story concerns improving business metrics and deleveraging in the next five years. Last year, AT&amp;T reported a free cash flow of $16.8 billion. For 2024, the company has <a href="https://investors.att.com/~/media/Files/A/ATT-IR-V2/financial-reports/quarterly-earnings/2023/4q-2023/4Q23_ATT_Earnings.pdf">guided for FCF</a> of $17 to $18 billion. Therefore, there is ample headroom for dividends and deleveraging.



Another note is that the business and <a href="https://investors.att.com/~/media/Files/A/ATT-IR-V2/financial-reports/quarterly-earnings/2023/4q-2023/T_4Q23_Trending_Schedule.pdf">operational trend indicates</a> an upside in several subscribers. This holds true for phone and fiber subscribers. At the same time, there is a positive trend in average revenue per user. This will likely boost the EBITDA margin and translate into further upside in FCF.



<h2>Vale (VALE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/08/vale-1600-300x169.jpg" alt="the Vale logo displayed on a mobile phone with the company's webpage in the background"><div>Source: rafapress / Shutterstock.com</div></div>Vale (NYSE:<a href="https://investorplace.com/stock-quotes/vale-stock-quote/">VALE</a>) is trading at a deep valuation gap among industrial commodity blue-chip stocks. It has been sideways for the last 12 months and trades at a forward price-earnings ratio of 5. Further, the stock offers an attractive dividend yield of 9%.



I must mention at the onset that the first-rate cut is likely before the Presidential elections. This will be positive news for industrial commodity stocks. I would not be surprised if VALE stock surges higher than undervalued in the second half of 2024.



Specific to Vale, there are two key positives. First, the iron ore business remains the cash cow. For Q4 2023, Vale <a href="https://api.mziq.com/mzfilemanager/v2/d/53207d1c-63b4-48f1-96b7-19869fae19fe/9ada1d38-5da8-2e02-18e3-03d7bec4b1e0?origin=2">reported an</a> adjusted EBITDA of $6.7 billion. Therefore, the company&rsquo;s robust cash flow ensures stable dividends and continued deleveraging.



Further, Vale increasingly focuses on portfolio diversification. The company has invested in metals likely to support the transition to global energy. This includes copper and nickel. As production ramped up, these metals will increasingly contribute to cash flows in the next five years.



<h2>Barrick Gold (GOLD)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/10/GOLD1600n-300x169.jpg" alt="How to Play Barrick Gold Stock Ahead of Today's Earnings"><div>Source: Piotr Swat / Shutterstock.com</div></div>Barrick Gold (NYSE:<a href="https://investorplace.com/stock-quotes/gold-stock-quote/">GOLD</a>) stock is another name that has remained depressed in the last 12 months. However, with gold trending higher, I am bullish on GOLD stock. Rate cuts might be delayed, but it&rsquo;s likely in the next few quarters. This will ensure that the precious metal continues to trend higher. As realized gold price increases, Barrick is well positioned to benefit.



From a valuation perspective, GOLD stock trades at a forward price-earnings ratio of 16.5. Further, the stock offers a dividend yield of 2.44%.



It&rsquo;s worth noting that last year, Barrick Gold <a href="https://s25.q4cdn.com/322814910/files/doc_presentations/2024/02/Barrick_Q4_2023_Results_Presentation.pdf">reported operating cash flow</a> of $3.7 billion for 2023. With a higher realized price, OCF will likely be more than $4.5 billion for the year. This will provide ample flexibility to increase dividends and invest in exploration activities.



From a long-term perspective, Barrick Gold ended 2023 with <a href="https://www.barrick.com/English/news/news-details/2024/geologically-driven-asset-management-delivers-third-successive-year-of-reserve-growth/default.aspx">proven</a> and probable mineral resources of 77 million ounces. With high reserves replacement, Barrick will deliver steady production growth in the coming years.



On the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/3-underappreciated-blue-chip-dividend-stocks-to-buy-under-20/">3 Underappreciated Blue-Chip Dividend Stocks to Buy Under $20</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Underappreciated Blue-Chip Dividend Stocks to Buy Under $20

AAUKF

ACGL

ACGLN

ACGLO

ACRE

AGNC

ATHM

BABA

BABAF

EGBN

ESEA

EURN

FSUMF

GBDC

GLCNF

GLNCY

HEES

HSBC

HTGC

MSCI

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NHNCF

OBDC

OXLC

PILBF

RYLPF

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Opinion

Press Releases

Thinking about trading options or stock in PayPal Holdings, Vale, Box, Fluence Energy, or Yext?

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Thinking about trading options or stock in Toast Inc, MicroStrategy, Vale SA, Netflix, or Aehr Test Systems?

Thinking about trading options or stock in Robinhood Markets, Lufax Holding, Buckle Inc, Vale SA, or Home Depot?

Contracts

Vale Base Metals Finalizes Plans to Reduce Equity Interest in PT Vale Indonesia Tbk

Small Cap

Thinking about buying stock in Vale SA, Virpax Pharmaceuticals, Paymentus, Futu Holdings, or Coya Therapeutics?

Thinking about buying stock in Aquestive Therapeutics, Spruce Biosciences, Vale, Marathon Digital Holdings, or Cybin?

Thinking about trading options or stock in Amazon.com, Micron Technology, JPMorgan Chase, Vale, or Lithium Americas?

Thinking about trading options or stock in NVIDIA, Vale, Viking Therapeutics, GigaCloud Technology, or Crowdstrike Holdings?

AEHR

AMZN

AQST

BRZE

CERE

COYA

CRWD

CYBN

FLNC

FUTU

GOOG

HOOD

MARA

MSTR

NFLX

NVDA

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PYPL

SPRB

TOST

TSX:NVO

VKTX

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YEXT

Alpha Metallurgical Resources, Inc. Common Stock

Alpha Metallurgical

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Commercial Metals

Carpenter Technology Corporation Common Stock

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Ramaco Resources

Ramaco Resources, Inc. - Class B Common Stock

ArcelorMittal

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POSCO Holdings Inc. American Depositary Shares (Each representing 1/4th of a share of Common Stock)

POSCO Holdings