Vale (ADR)
Mines iron ore, nickel, and copper through integrated extraction and logistics systems.
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Profile
Produces iron ore and pellets through an integrated mine-to-port logistics system and runs a separate nickel-and-copper platform. Iron Ore Solutions is anchored in Brazil, while Vale Base Metals is multinational; dam-safety controls and Mariana and Brumadinho reparations remain operating dependencies.
Operates two business platforms: Iron Ore Solutions and Vale Base Metals. The first produces iron ore and pellets through Brazilian mining systems linked to railways, maritime terminals, ports, and distribution centers; the second centers on nickel and copper.
The iron-ore system remains anchored in Brazil, while the base-metals platform became multinational after the Inco acquisition. Integration of extraction with dedicated logistics is a defining operating capability, supporting mineral movement from mines to export channels.
Portfolio focus has increased since the coal exit and the creation of Vale Base Metals as a separately structured subsidiary. Operations and capital allocation remain shaped by long-duration Mariana and Brumadinho reparations, dam-safety controls, and the continuing elimination of upstream tailings structures. Complete environmental consequences of both disasters remain uncertain.
Company facts
Key statistics
Year to date +13.4% · Average volume (30d) 24.1M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 11, 2026 | UBS | Reiterate | Neutral | $16 | $16.50 | |
| Aug 5, 2026 | B of A Securities | Downgrade | Buy | Neutral | ||
| Jul 27, 2026 | Goldman Sachs | Downgrade | Buy | Neutral | ||
| Jul 9, 2026 | Wells Fargo | Reiterate | Equal Weight | $17 | $15 | |
| Jul 8, 2026 | Morgan Stanley | Downgrade | Overweight | Equal Weight | $19.50 | $16.50 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | $0.41 | $0.36 | −12.2% | $10.47B | $10.50B | +0.2% | +2.32% |
| Apr 28, 2026Q1 FY26 | $0.47 | $0.44 | −6.4% | $9.53B | $9.26B | −2.8% | −6.27% |
| Feb 12, 2026Q4 FY25 | $0.57 | −$0.90 | −257.9% | $10.90B | $11.06B | +1.5% | −2.29% |
| Oct 30, 2025Q3 FY25 | $0.49 | $0.63 | +28.6% | $10.81B | $10.41B | −3.7% | +1.68% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $8.12B | $8.80B | $10.41B | $11.06B | $9.26B | $10.49B | |
| Gross profit | $2.67B | $2.72B | $3.79B | $4.08B | $3.06B | $3.22B | |
| Operating income | $1.80B | $2.00B | $3.42B | $2.91B | $2.67B | $2.67B | |
| Net income | $1.39B | $2.12B | $2.68B | −$3.90B | $1.89B | $1.35B | |
| Diluted EPS | $0.33 | $0.50 | $0.63 | −$0.91 | $0.44 | $0.32 | |
| Gross margin | 32.9% | 30.9% | 36.4% | 36.9% | 33.0% | 30.7% | |
| Operating margin | 22.2% | 22.8% | 32.8% | 26.3% | 28.8% | 25.5% |
Fiscal years (4-quarter sums)FY21 $54.55B · FY22 $43.76B · FY23 $41.75B · FY24 $37.54B · FY25 $38.39B
Revenue by product · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $5.77B · Total debt $18.94B · Total assets $89.29B · Shareholders' equity $37.99B
Dividends
Raised for 2 straight years — most recently to $0.3998 from $0.3475 in Aug 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 13, 2026 | Aug 13 | Sep 10 | $0.3998 | raised from $0.3475 |
| Dec 12, 2025 | Dec 12 | Mar 11 | $0.6684 | special dividend |
| Aug 13, 2025 | Aug 13 | Sep 10 | $0.3475 | cut from $0.3726 |
| Mar 10, 2025 | Mar 10 | Mar 21 | $0.3726 | cut from $0.5436 |
| Dec 12, 2024 | Dec 12 | Mar 21 | $0.0905 | special dividend |
| Aug 5, 2024 | Aug 5 | Sep 11 | $0.3713 | special dividend |
| Mar 12, 2024 | Mar 13 | Mar 26 | $0.5436 | raised from $0.347 |
| Nov 22, 2023 | Nov 24 | Dec 8 | $0.4738 | special dividend |
Ownership
Shares outstanding 4.26B · Float 4.26B · 100.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Capital World Investors | 131.51M | 3.08% | 13F | Aug 12, 2026 |
| BlackRock, Inc. | 63.83M | 1.50% | 13F | Aug 7, 2026 |
| FMR LLC | 55.35M | 1.30% | 13F | Aug 13, 2026 |
| Arrowstreet Capital, Limited Partnership | 31.95M | 0.75% | 13F | Aug 13, 2026 |
| Robeco Institutional Asset Management B.V. | 30.22M | 0.71% | 13F | Jul 21, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 4, 2026 | Madeira Andre Viana | director | +4 | $14.99 |
| Aug 3, 2026 | Madeira Andre Viana | director | +5 | $14.63 |
| Jul 2, 2026 | Madeira Andre Viana | director | +1 | $15.06 |
| Jul 1, 2026 | Madeira Andre Viana | director | +1 | $15.02 |
| Jul 3, 2026 | Funo Elaine Maria de Souza | officer: Accounting Officer | +406 | $15.25 |
Peers
- BHP (ADR)
Broad rival across seaborne iron ore and copper
- Rio Tinto (ADR)
Closest iron-ore-scale peer with an expanding copper portfolio
- Freeport-McMoRan
Global copper specialist competing in mined and refined copper
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Vale (ADR) | $15.10 | +0.40% | $64.10B | 31.3 | 8.3 | 1.6 | +19.2% |
| BHP (ADR) | $94.75 | −0.42% | $241.71B | 24.5 | — | 4.2 | +19.9% |
| Rio Tinto (ADR) | $103.71 | +0.37% | $167.86B | 13.9 | — | 2.7 | +14.5% |
| Freeport-McMoRan | $76.29 | −0.20% | $109.92B | 37.5 | 21.6 | 4.2 | −7.3% |
| Median | 24.5 | 21.6 | 4.2 | +14.5% |