Vale SA ADR
VALE: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$24.40 | Hbwpg | Nvv |
Retaining Vale's FVE at USD 14.50 Per Share; Shares Undervalued
Business Strategy and Outlook
Vale is the world's largest iron ore miner and a key supplier to the global steel industry. It is leveraged to Chinese raw materials demand, which we expect to slow as the country's infrastructure-led investment boom wanes and as recycled steel becomes a growing source of supply.