Why VALE S.A. (VALE) Dipped More Than Broader Market Today

VALE S.A. (VALE) closed at $13.30, down 2.13%, underperforming the S&P 500. The stock has fallen 9.94% over the past month. Upcoming earnings are projected at $0.57 per share (down 9.52% YoY), with quarterly revenue expected at $11.38 billion (up 9.2% YoY). VALE holds a Zacks Rank #3 (Hold) with a Forward P/E of 7.14, trading at a slight discount to its industry average of 7.17.