Vale S.A. VALE shares have gained 4% since it reported fourth-quarter 2020 adjusted earnings per share of $1.09, which improved 85% from the prior-year quarter. The bottom line also beat the Zacks Consensus Estimate of 90 cents. This can primarily be attributed to strong performance of Ferrous Minerals business, which was aided by a 17% increase in iron ore prices and 26% higher sales volumes in the quarter under review.
Net operating revenues surged 48% year over year to around $14.8 billion. The top line beat the Zacks Consensus Estimate of $14.3 billion.
Of the total net operating revenues, sales of ferrous minerals accounted for 82.6%, base metals comprised 16%, coal contributed 0.9%, and the remaining 0.5% was sourced miscellaneously.
Production of LME deliverable KAS-branded aluminium at Kazakhstan’s Eurasian Resources Group has reached the four-million-tonnes milestone
