Vale's Voisey's Bay and Long Harbour Sites Represent 'Attractive' Growth Options, RBC Says

MT Newswires Live06-15

Vale's (VALE) Voisey's Bay and Long Harbour sites in Newfoundland and Labrador are "attractive" growth options for the company, RBC Capital Markets analysts said in a Monday note.

Analysts said that operational turnaround is starting to bear fruit, and the underground transition is largely complete with throughput at nameplate capacity.

RBC said that Voisey's Bay and Long Harbour strengthen Vale's investment case, noting the potential for longer-term rerating as their contribution to group EBITDA increases in the medium term.

The sites carry a strategic advantage in the context of growing Western demand for resilient non-Chinese supply chains, analysts said.

RBC has a sector perform rating and a $15 price target on the stock.

Price: 16.29, Change: +0.57, Percent Change: +3.66

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