Vale (VALE3) drops 6% and goes to lowest level for the year; “Inexpensive and has profits,” says analyst – Money Times

The yes (VALE3) and other steelmakers in Thursday’s session (14) along with Ibovespa.

Recession fears gained more strength after the results from JP Morgan And the Morgan Stanley smaller than expected.

a necklace iron ore For the month of August, the Singapore Stock Exchange fell 8.2% to $99.90 a ton, the weakest level since last November.

As a result, the miner’s share decreased by 6.66%, to R$67.95, the lowest level during the year.

Buying opportunity for Vale?

According to analyst Pedro Galdi, from Mira’s originsThe stock is trading at attractive prices with good dividends on the way.

Matthews Spies, from Empiricusstates that the works goods They are “too cheap” and now “might be a good time to buy these papers”.

Of course, these procedures can become cheaper. In the short term, they are reacting to lower commodity prices. In the long run, they interact with the evaluation and operational efficiency they have gained over the past few years. These companies have a lot of money. He adds that having this sector in the portfolio is attractive.”

Watch the biggest drops

See the highest elevations

Money Times are Top 10 Investments!

It is our pleasure to share with you, our reader, that Money Times has been approved as one of the 10 largest Brazilian initiatives in the digital world in investments. With open voting and a panel of experts, the iBest award will determine the top three places in the 2022 category. If you rely on our content to nurture your investment and keep you informed, Vote here!