Mining
Brazilian multinational mining corporation and one of the largest iron ore producers globally.
View forensic reportVale accelerated its Oman maintenance outages to offset war-related disruptions. Meanwhile, analysts are quietly lifting price targets. The iron ore supply story is tightening.
Revenue down 30%, net income halved, margins compressed from 48% to 22% — and yet Vale generates $7 billion in free cash flow at trough with a 17% FCF yield.
BofA just upgraded Vale to Buy. At 6.3x trailing earnings with iron ore production rising, the market's Brazil discount has become an opportunity.