Commodities > Bulks

Vale plan paying off: bank

Morgan Stanley analysts have backed Vale (BZ:VALE5) to catch up to Rio Tinto (LN:RIO) in shareholder returns as the Brazilian miner ups its yield and dividends.

Commodities > Bulks

Vale plan paying off: bank

Morgan Stanley analysts have backed Vale (BZ:VALE5) to catch up to Rio Tinto (LN:RIO) in shareholder returns as the Brazilian miner ups its yield and dividends.

Vale plan paying off: bank

Steady gait: Vale's investment in S11D is one reason it has caught up to Rio Tinto in attractiveness

The bank's mining team has upgraded Vale to overweight (outperform) and would see a 12% improvement in its share price by the end of 2018, to US$11.70 per share, compared to Rio's 4% increase to $49/share, which has it rated as the equivalent of sector perform.