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Vale S.A.

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Over the last three months, Vale's shares outperformed the industry. The company's second-quarter 2017 earnings and revenues improved 28.6% and 17.4% respectively, on a year-over -year basis. Vale is gradually bringing down its costs, by boosting productivity. Even so, the company is deleveraging its balance sheet with the help of its ongoing liability management program. Moreover, improving iron-ore prices will likely bolster Vale's results in the quarters ahead. However, we perceive that headwinds such as stiff industry rivalry, sudden outbreak of any natural disaster or unfavorable government policies might hurt the company's results in the quarters ahead. Also, over the last 30 days Zacks Consensus Estimate for the stock has moved south for both 2017 and 2018.


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