May was bad for stocks mining and steel mills Brazilian. A OK (VOUCH3) to say so. Accumulating a fall of more than 11%, the company’s stock was among the negative highlights of the Ibovespa last month, amid the strong correction in the prices of the iron ore at China.
Despite this, analysts continue to look at Vale as one of the main bets in the short term. Cited in 15 of 26 different portfolios, the company leads the number of recommendations in wallets of analysts in June. This is what the new survey of the Money Times.
A Agora Investimentos argues that, although the latest results presented have been weak, the impact felt by the mining company in the first three months of the year reflects “one-off” events, such as greater rainfall and anticipation of maintenance, which impacted costs.
Even with the bad start to the year, the brokerage analysis team is confident that the fundamentals of the iron ore market should improve in the coming months, sustained by the increase in Chinese demand and low stocks of the steel raw material.
“Vale should directly benefit from this positive environment, with strong cash generation and prospects for shareholder compensation”, assesses Ágora.
O Santander takes a similar view. According to the bank, the “persistent challenges” of supply should sustain iron ore prices above US$ 100/ton for longer. In addition, the institution understands that the demand for high quality iron ore will remain “decent” in the short term, benefiting Vale.
One of the five bets in the stock portfolio of the modalmore for June, Vale has an expected gain potential of more than 18%, in the assessment of analysts.
favorite oil company
The list of most analyst-nominated stocks for June also features another name exposed to commodities. It’s about the Prio (PRIO3), which received 12 recommendations.
After the disclosure of the balance sheet for the first quarter of 2023, Ágora recently revised the estimates for the company, considering:
- stronger than expected figures for the new Frade wells, with an average production per well of 9,000 barrels per day, against an estimate of 4,000;
- inclusion of ODP5 with production of 6 thousand barrels per day from may, representing the fifth well of the Frade expansion; It is
- peak production of 76 thousand barrels per day (against a previous estimate of 66,000) from Albacora Leste, in line with the latest certification of 1P reservations (proven).
Within the ranking of favorite stocks for this month, two banks stand out: Itau (ITUB4), cited 11 times, and Bank of Brazil (BBAS3), with eight nominations.
| Company | ticker | Indications |
|---|---|---|
| OK | VOUCH3 | 15 |
| Prio | PRIO3 | 12 |
| Itaú Unibanco | ITUB4 | 11 |
| Multiplan | MULT3 | 11 |
| Bank of Brazil | BBAS3 | 8 |
| find | RENT3 | 7 |
| Raya Drogasil | RADL3 | 6 |
| Petrobras | PETR4 | 6 |
| Sum | SUM3 | 6 |
survey
The lifting of Money Times was carried out based on information from recommended portfolios disclosed by 26 institutions. For June, 87 actions were indicated, totaling 250 recommendations.
Participated in the survey Ágora Investimentos, Ativa Investimentos, BB Investimentos, BTG Pactual, CM Capital, Eleven, Empiricus, Empiricus Investimentos, Genial Investimentos, Guide Investimentos, Inter, Itaú BBA, Levante, Mirae Asset, MyCap, Modalmais, Nova Futura, Órama, Planner, RB Investimentos, Banco Safra, Santander, Terra Investimentos, XP Investimentos, Warren It is PagBank.
Source: Moneytimes
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