10 Ridiculously Cheap Stocks to Buy Right Now

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

Analyst Upside as of November 25, 2024: 42%

Forward P/E as of November 25, 2024: 4.97

Market Capitalization as of November 25, 2024: $42.8 Billion

Vale S.A. (NYSE:VALE) is a mining company headquartered in Brazil and present in more than 20 countries. The company engages in sustainable mining and is one of the largest producers of iron ore, pellets, and nickel. It also has operations in the logistics of mineral exporting.

On the financial front, Vale S.A. (NYSE:VALE) logged $9.55 billion in revenue during the third quarter of 2024. In addition to that, the company reported record performances in production. During the quarter, iron ore production reached its highest levels in more than five years. Vale S.A. (NYSE:VALE) is set to add another 50 metric tons of capacity by 2026 and it also signed a partnership for a new iron ore concentration plant in Sohar, which will be completed by 2027.

In October the company’s second underground mine achieved mechanical completion status. This means that the mine will be able to begin production in the coming months. Previously in September, Vale S.A. (NYSE:VALE) announced an investment in Mantel, a startup that develops low-cost solutions to capture carbon from industrial sources directly. The investment will help Vale pioneer the development of the mining industry.