Vale Catches a Downgrade Because Iron Ore Prices Will Drop

Iron ore prices are sliding, and Wall Street sees that trend continuing. That isn’t great for sales and cash flows for iron ore miners.

Bank of America analyst Jason Fairclough cut his rating on iron ore miner Vale (ticker: VALE) to Hold from Buy. He lowered his price target to $20 a share from $27.

“Earnings downgrades coming,” wrote Fairclough...