VALE - Vale S.A.
| Previous Close | 11.17 |
| Open | 11.24 |
| Bid | 11.15 x 21500 |
| Ask | 11.16 x 34100 |
| Day's Range | 11.14 - 11.35 |
| 52 Week Range | 10.20 - 15.92 |
| Volume | 12,979,975 |
| Avg. Volume | 18,978,223 |
| Market Cap | 57.18B |
| Beta (3Y Monthly) | 0.34 |
| PE Ratio (TTM) | 17.21 |
| EPS (TTM) | 0.65 |
| Earnings Date | N/A |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | 2018-08-03 |
| 1y Target Est | 14.11 |
- Reuters
Nothing changes at Brazil's BNDES after departure of director - CEO
The recent departure of a senior official at Brazilian development bank BNDES does not change the bank's strategy and was part of the normal turnover at the institution that oversees privatizations, its chief executive said on Friday. "Nothing changes in the bank's strategy, nothing changes in its plans," Gustavo Montezano said in a statement to reporters. Two people with knowledge of the matter told Reuters on Thursday that the majority of BNDES' board voted to dismiss director Andre Laloni, who requested a leave of absence last week amid disagreements over asset sales.
- Zacks
Vale Q3 Iron Ore Output Up 35% Q/Q, To Recover 50 Mt by 2021
Vale S.A's (VALE) iron ore production numbers in the third quarter exhibit a sequential improvement as mines shut in the wake of the Brumadinho disaster resumed operations.
- Reuters
EMERGING MARKETS-Brazil's real lags the most as trade optimism wanes
The real fell 0.7% to the 4.1262 per dollar level, on track for its biggest percentage decline in a week, while the Chilean peso and the Peruvian sol also edged lower. Late on Friday, Washington and Beijing outlined the first stage of a trade deal and suspended this week's scheduled U.S. tariff hikes on Chinese goods, sparking a rally in risk assets including emerging market currencies and stocks. Bloomberg reported on Monday that China wants more talks to hammer out the details, including scrapping the planned tariffs in December, before it signs the partial deal.
- Reuters
UPDATE 1-Vale Q3 iron ore output falls 17.4% year-on-year following Brazil dam break
Brazil's Vale SA said on Monday its third-quarter iron ore production was up from the previous quarter but still down 17.4% from a year ago, as the miner slowly began to resume production at mines that were shut down following a deadly dam burst in January. The company produced 86.704 million tonnes in the July-September period, up more-than two-thirds from the second quarter as operations resumed at Brucutu, its largest mine in the southeastern state of Minas Gerais, and at part of its Vargem Grande complex. In a securities filing, the world's top iron ore exporter added it expects to lift production capacity to around 50 million tonnes at its Vargem Grande complex by the end of 2021.
- Insider Monkey
Is Vale SA (VALE) A Good Stock To Buy?
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- Reuters
EMERGING MARKETS-Latam FX mixed, stocks slip as trade concerns weigh
Oct 8 (Reuters) - Latin American currencies were mixed on Tuesday with Brazil's real bouncing back from its steepest drop in more than two weeks, while stock markets in the region declined on fading hopes for progress in the upcoming U.S.-China trade talks. Reports that the Trump administration was moving ahead with discussions around possible curbs on capital flows into China and Beijing would cut short the stay of its delegation by one night kept investors nervous about the outcome of the trade talks, scheduled for Oct. 10-11. The Brazilian real edged up 0.4% after shedding about 1.2% on Monday following a report Brazilian Economy Minister Paulo Guedes would leave in February.
- Zacks
Vale Expects to Conclude Dam Burst Disbursements by 2022
Vale S.A (VALE) anticipates annual outflow associated with taking down risky dams, repairing environment and compensation to peak at $1.5-$2.1 billion next year before declining through 2022.
- Moody's
Navios South American Logistics Inc. -- Moody's announces completion of a periodic review of ratings of Navios South American Logistics Inc.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Navios South American Logistics Inc. London, 04 October 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Navios South American Logistics Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
- Reuters
UPDATE 1-Brazil miner Vale expects to mostly finish paying for burst dam by 2021
RIO DE JANEIRO/BRASILIA, Oct 2 (Reuters) - Brazilian miner Vale SA on Wednesday said it expects to finish paying for most of the expenses related to the disaster at one of its facilities that killed at least 250 people by 2021. In securities filings, Vale laid out its expectations for expenses related to the rupture of a mining dam at its facility in the town of Brumadinho in January, which released a torrent of mud burying buildings and people. Vale faces a variety of legal actions related to the disaster including lawsuits in Brazil, U.S. class actions and Brazilian exchange regulator probes.
- Bloomberg
After Dumping Vale, Church of England Says Miner Has ‘Way to Go’
(Bloomberg) -- The Church of England has dumped Vale SA, and it doesn’t look like the Brazilian miner will make it back into the good books any time soon.The church sold its shares in Vale after a tailings dam collapse in January killed at least 249 people in the Brazilian town of Brumadinho. It has also blocked investments in the miner through an ethical exclusion process, according to Adam Matthews, director of ethics and engagement at the church’s pension board.There’s a “long way to go” before the church is ready to backtrack, he said by phone before the Financial Times Commodities Americas Summit in Rio de Janeiro, where he is scheduled to speak.“We obviously need to see the outcome of various investigations,” Matthews said. “We also need to further understand that the company has done all it possibly can to ensure the community locally has been supported and compensated -- to the extent that’s even possible -- and then at that point we will make a judgment but I think that’s quite some way off.”The Church of England has been at the forefront of a divestment movement targeting companies failing to meet environmental rules and tackle climate change. While its total holdings in Vale were less than 10 million pounds ($12.5 million), the move highlights how investors are flexing their muscles to pressure companies to adhere to environmental standards.The collapse at the Feijao mine was Vale’s second fatal disaster since 2015. That year, a Samarco Mineracao SA mine co-owned by Vale spewed billions of gallons of waste in Mariana, in what was largely considered Brazil’s worst environmental disaster ever. Iron ore producer Samarco, a joint venture between Vale and BHP Group, is currently awaiting an environmental permit to resume operations.The Church of England wrote to Vale and more than 700 other companies requesting details on all their tailings dam operations and asking for full disclosure of their responses as part of its Investor Mining & Tailings Safety Initiative. Representatives of the church will also meet Vale in a few weeks in London at the company’s request to discuss the issue, Matthews said.“Tailings management isn’t just an issue related to Vale, although obviously we now have two disasters connected to that company specifically,” he said. “It’s a global issue that has implications across multiple jurisdictions and we are looking at how you can fix that issue across the whole of mining.”Vales has faced increased government oversight following the two disasters. Upstream dams have to be taken out of service or drained of mining waste by 2027, the National Mining Agency said last month. The producer said it would invest 11 billion reais ($2.6 billion) in the next five years on a dry method for processing iron ore that eliminates the need for riskier wet waste storage dams.Investors and business forces are aligning on climate change in ways that will reshape energy and mining for years to come. The Church of England played a major role in pressuring Royal Dutch Shell Plc to cut carbon in its portfolio and increasing pressure on firms to disclose more about their lobbying.“We do feel that disinvestment has a role, but we don’t believe in just disinvestment from the whole sector and walking away,” Matthews said. “We haven’t walked away from the oil and gas sector, we haven’t walked away from the mining sector. We do think there’s the potential for companies in those sectors to transition.”But when it’s clear that some companies don’t have a way forward, the church is willing to use disinvestment on both financial and ethical grounds, he said.To contact the reporters on this story: Isis Almeida in Chicago at ialmeida3@bloomberg.net;Sabrina Valle in Rio de Janeiro at svalle@bloomberg.netTo contact the editors responsible for this story: Tina Davis at tinadavis@bloomberg.net, Nicholas Larkin, Luzi Ann JavierFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Zacks
Vale (VALE) Temporarily Halts Operations at Brucutu Mine
Vale (VALE) remains on track to meet its guidance of sales of iron ore and pellets of 307 million to 332 million ton for 2019 despite a partial suspension of operations at Brucutu mine.
- Investopedia
How the Iron Ore Market Works (VALE, RIO)
The market for this essential industrial material tanked in recent years but there are signs it's settling down, with fewer big players in the market.
- Reuters
UPDATE 2-Brazil police accuse Vale and TÜV SÜD of fraud before dam burst -document
Brazilian federal police proposed criminal charges against Vale SA, auditor TÜV SÜD and 13 of their employees, alleging fraud in relation to a deadly dam collapse in January, according to a document seen by Reuters on Friday. Federal police accused the companies of working with falsified documents attesting to the stability of the dam in Brumadinho, in the southeastern state of Minas Gerais, a source with knowledge of the matter said. Vale said in a Friday securities filing that it was aware of the police investigation, but would not comment further until it has more details.
- Reuters
FOCUS-Vale misled public on dangerous dams, prompting Brazil probe -source
RIO DE JANEIRO/BRASILIA/SAO PAULO, Sept 17 (Reuters) - Faced with public outrage after its second mining dam collapse in four years killed at least 240 people in Brazil, Vale SA misrepresented what it had done to shut down its riskiest dams, a review of the company's statements shows. Fabio Schvartsman, Vale's then-chief executive, said at a nationally broadcast news conference days after the dam burst in late January that the company had already decommissioned nine "upstream dams" in the wake of a 2015 disaster involving the same type of structure, and planned to dismantle 10 more over the next few years. The company repeated the claim in a statement on its website.
- Reuters
Brazil probe into Vale dam collapse to conclude within days, prosecutor says
A criminal investigation into the fatal collapse of a dam owned by mining firm Vale SA should be concluded in the coming days, a Brazilian prosecutor said on Tuesday, with charges to follow. "State prosecutors are working with the state police, federal prosecutors and federal police, and we're of the conviction that we'll deliver a solution in the coming days," Antônio Sérgio Tonet, the top prosecutor in the state of Minas Gerais, told journalists. In January, a tailings dam at a Vale-owned mine in Minas Gerais collapsed, unleashing more than 12 million cubic meters of mining waste on the small town of Brumadinho and killing hundreds.
- Reuters
Vale misled public on dangerous dams, prompting Brazil probe: source
RIO DE JANEIRO/BRASILIA/SAO PAULO (Reuters) - Faced with public outrage after its second mining dam collapse in four years killed at least 240 people in Brazil, Vale SA misrepresented what it had done to shut down its riskiest dams, a review of the company's statements shows. Fabio Schvartsman, Vale's then-chief executive, said at a nationally broadcast news conference days after the dam burst in late January that the company had already decommissioned nine "upstream dams" in the wake of a 2015 disaster involving the same type of structure, and planned to dismantle 10 more over the next few years. The company repeated the claim in a statement on its website.
- Reuters
EMERGING MARKETS-Latam stocks scale one-month highs on China-U.S. trade optimism
The Sao Paulo. index rose 1%, with materials stocks pushing up the index the most. Chilean stocks rose about 0.3% and were slated for a seventh straight session of gains. The Mexican peso rose about 0.4% to near a one-month high.
- Reuters
Brazil development bank BNDES mulls strategy for Petrobras, Vale asset sales -sources
Brazil's development bank BNDES is mulling strategies to sell its stakes in listed companies such as state-controlled oil company Petrobras SA , two sources with knowledge of the matter said on Thursday. As discussions are still ongoing, BNDES may start divestments only next year, the sources added. BNDES, which has nearly 110 billion reais ($27.23 billion) in listed assets, has been considering either a direct sale of shares through its treasury desk or share offerings, the sources said.
