Vale's iron ore earnings limited by low prices, but copper boosts base metals segment value.

Vale's iron ore segment struggles with prices near $95 per ton and rising costs, limiting profit growth. However, its Base Metals division, especially copper, now drives most of its earnings, improving the company's overall profitability. This shift may justify a higher valuation for Vale, but the company remains primarily focused on ferrous metals. Currently trading at about 4.8 times forward EV/EBITDA, Vale appears fairly valued rather than cheap, needing stronger growth prospects to become more attractive to investors.

Vale stock trades at USD 14.51 on Pluang as of Sep 18, 2026 09:01 WIB, up 2.69% in one day. The company’s market cap stands at $60.37 billion with a dividend yield of 8.43%. Trading volume is active at over 45 million shares, reflecting steady investor interest despite mixed segment performance.