Goldman cuts Vale as limited catalysts dim upside after sharp rally

Investing.com -- Goldman Sachs on Monday downgraded Vale to “neutral” from “buy” rating, citing limited short-term catalysts for the Brazilian miner, and cut its 12-month price target to $16 from $18. Goldman Sachs said it now expects prices for Vale’s key metals to be flat to down, while operational performance "has been largely delivered and has limited room to improve due to macro tailwinds," and copper growth is long dated.
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Investing.com -- Goldman Sachs on Monday downgraded Vale to “neutral” from “buy” rating, citing limited short-term catalysts for the Brazilian miner, and cut its 12-month price target to $16 from $18. Goldman Sachs said it now expects prices for Vale’s key metals to be flat to down, while operational performance "has been largely delivered and has limited room to improve due to macro tailwinds," and copper growth is long dated. The broker also said valuation is now less attractive following a re-rate and a more than 70% rise in Vale’s share price since January 2025. Iron ore prices have proved more resilient than expected, but Goldman Sachs said the current roughly $100 per ton level is close to the peak for the cycle, citing rising global supply and limited demand growth.
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- Investing.com -- Goldman Sachs on Monday downgraded Vale to “neutral” from “buy” rating, citing limited short-term catalysts for the Brazilian miner, and cut its 12-month price target to $16 from $18. Goldman Sachs said it now expects prices for Vale’s key metals to be flat to down, while operational performance "has been largely delivered and has limited room to improve due to macro tailwinds," and copper growth is long dated.
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Goldman cuts Vale as limited catalysts dim upside after sharp rally
Sources1TypeCoverageInvesting.com · Stock Market