Vale SA ADR
VALE: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$95.60 | Klff | Qdyf |
Modestly Lowering Vale's Valuation by 3% on Higher Samarco Costs
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.