10 Best Low Priced Stocks to Invest in Now

2. Vale S.A. (NYSE:VALE)

Number of Hedge Fund Investors: 41

Stock Price as of December 24: $8.94

Vale S.A. (NYSE:VALE) is one of the world’s largest miners and processors of iron ore and nickel, headquartered in Brazil. The company supplies raw materials to industries such as steelmaking, construction, and electronics manufacturing. Vale S.A.’s (NYSE:VALE) competitive advantage comes from its vast resource reserves, efficient logistics infrastructure, and sustainable mining practices.

Vale S.A. (NYSE:VALE) is actively expanding and optimizing its iron ore portfolio to enhance its commercial flexibility and value creation. The company is making significant progress on its projects, with the recent successful startup of the Vargem Grande project, with the implementation of new assets. The Vargem Grande project is expected to add 15 million tons per year of iron ore production capacity. The next major project, Capanema, is 91% complete and is scheduled to start up in the first half of 2025, adding another 15 million tons of capacity. These projects are critical for the company to achieve its goal of structurally producing about 350 million tons of iron ore annually, with 80% to 90% being high-quality products such as Brazilian Blend Fines (BRBF), a product produced after blending fines from Carajas mine, along with other agglomerated products.

Vale S.A. (NYSE:VALE) is also committed to growing its Energy Transition Metals (ETM) business, which includes copper and nickel production. The company has seen strong year-on-year production performance in both metals, driven by the successful implementation of asset review initiatives. The company has recently revised its 2024 all-in cost guidance for copper downward to between $2,900 and $3,300 per ton, reflecting improved operational efficiency and higher unit by-product revenues.