9.94
0.85%
-0.09
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Why is Vale S A Adr (VALE) Stock down?
We've noticed a 5.53% decline in Vale S A Adr (VALE) stock during the 2024-11-08 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
18 Oct, 2023:
Shares of Vale S.A. American Depositary (VALE) dropped by 4.16% from $13.46 to $12.90 in the trading on Wednesday, October 18, 2023. The reason why VALE stock down is due to its disappointing Q3 earnings
- Vale reported a 4% year-over-year decrease in iron ore production, primarily due to various factors, including lower production at the Paraopeba complex, temporary stoppages at the Viga operations, and an incident with the conveyor belt system at S11D. However, there was some improvement in iron ore quality, with higher iron content attributed to increased production at S11D and higher pellet feed output from Brucutu.
- While copper production showed growth, nickel production declined significantly due to ongoing transitions and maintenance.
- Vale's production guidance for 2023 suggests lower expectations for copper and nickel production compared to previous estimates. These factors likely contributed to the decline in VALE's stock price.
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