Vale to relinquish mining prospect rights on Brazil's indigenous lands

  • Vale ( Vale ) says it gives up all rights to mining prospects on indigenous lands in Brazil, including applications for exploration permits and mining concessions, noting they require consent of communities and legislation regulating such activity.
  • Vale says it has returned to the National Mining Agency 89 licenses for mineral research and mining activities this year in lands that interfere with indigenous reservations, and will file withdrawals and waivers for another 15 prospects in the coming days.
  • Separately, Bank of America 's Jason Fairclough downgrades Vale to Hold from Buy with a $20 price target, cut from $27, citing disappointing economic growth in China and the government's steel policies that are forcing capacity reductions at steel mills.
  • The combination will drive a "major [ore] price correction," Fairclough says, cutting his 2022 iron ore price forecast to $91/metric ton with potential downside to $80.
  • Iron ore prices in China have plunged ~60% from a record above $230/ton in May, tumbling well below $100/ton earlier this week.

    Over the current book year the company from Null could achieve a revenue around 60.14 billion USD (consensus estimates). This is quite lower than 2021's revenue of 208.53 billion USD.

    Historical revenues and results Vale plus estimates 2021

    aandeel

    The analysts expect for 2021 a net profit of 25.68 billion USD. For this year the consensus of Vale 's result per share is a profit of 5.2 USD. The PE-ratio therefore is 2.73.

    Huge dividend Vale

    Per share the analysts expect a dividend of 2.37 USD per share. The dividend yield is then 16.69 percent. The average dividend yield of the mining companies is a limited 0.81 percent.

    Vale 's market capitalization is around 72.82 billion USD. 60

    On Friday the stock closed at 14.2 USD.

    Historical stock prices Vale2007-2021

    fundamental research vale

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