Vale (VALE3) opened trading on Wednesday (27) among the five most traded shares, up 4.38% and quoted at R$ 81.42 around 11:07 am (Brasília time). The mining company releases today, after the market closes (5 pm), its balance sheet for the first quarter of 2022 and the expectation is, in general, of neutral numbers.
See below for more details on prospects for Vale’s results and what experts heard by the UOL recommend doing with actions.
Last week, Vale published its production and sales report for the period from January to March this year.
Iron ore production was 22.5% lower than in the last quarter of 2021. In the annual comparison, the drop was 6%. Heavy rains in Minas Gerais hampered mining, according to the company.
Is it time to sell or buy Vale shares?
“We see these results as slightly negative from the production point of view, as they were below the consensus numbers. But we maintain our buy recommendation for Vale, with a target price of R$97.10 per share”, said XP Investimentos in report.
Guide Investimentos has the same recommendation. For the broker, the mining company’s asset is cheap and should rise again soon.
“We believe that, in the very short term, Vale may have a stronger rise given that stocks suffered the most in the recent correction,” said Guide.
