Company Of The Day: Vale
Mining giant Vale (NYSE:VALE) posted a stronger than expected set of Q4 2021 results, with net profits surging to $5.4 billion, up from around $739 million in the year-ago quarter. However, revenue declined about 10% year-over-year to $13.1 billion.
While the rise in reported net profits was driven primarily by the reclassification of cumulative foreign exchange gains, revenues are being impacted by weaker price realizations for iron ore – the company’s main product.
Vale stock gained about 1% in after-hours trading on Thursday.
See Our Complete Analysis For Vale
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