VALE, US91912E1055

Vale completes Thompson mine deal and Scotiabank keeps USD 16 target for Vale stock

Published on 10/20/2026 at 11:38 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The company retains 18.90 percent and secures a multiyear nickel offtake agreement. Vale stock costs EUR 11.65 on October 20, 2026.

Ownership shifts at Thompson

Vale completed the Thompson Mine Complex transaction on October 16, 2026, retaining 18.90 percent.
Scotiabank kept a USD 16.00 target and Sector Perform rating on October 13, 2026.
Vale stock trades at EUR 11.65 at 11:33 a.m. CEST at Lang & Schwarz on October 20, 2026.
Vale will release third-quarter 2026 results on October 29, 2026, followed by a webcast on October 30, 2026.

VALE, US91912E1055, Illustration mit AI erstellt.

Vale (US91912E1055) retained an 18.90 percent stake in the Thompson Mine Complex after completing a transaction on October 16, 2026, according to MarketScreener. Scotiabank kept a USD 16.00 price target and Sector Perform rating in a report dated October 13, 2026, while cutting its fiscal year 2026 earnings-per-share forecast to USD 1.66 from USD 2.22, MarketBeat reported.

Thompson keeps a minority stake

The transaction gives Exiro Minerals, Orion Resource Partners and Canada Growth Fund collective ownership of 81.10 percent of Exiro Nickel, leaving Vale Base Metals with the minority position. Vale also entered a multiyear offtake agreement for nickel concentrate from the Thompson mill, linking the retained stake to future material flows.

The structure marks a portfolio-management decision rather than a full exit. Vale's subsidiary keeps exposure to the operation while the new owners assume control and investment responsibility. For investors, the 81.10 percent majority position versus Vale's 18.90 percent stake defines the economic balance of the transaction.

What does the target signal?

Scotiabank's USD 16.00 target stands above the USD 13.11 New York price cited in the October 16 market coverage, but the bank's forecast reduction from USD 2.22 to USD 1.66 shows a more cautious earnings view. MarketBeat also reported that Vale's consensus rating was Hold with an average target of USD 15.81 on October 16, 2026.

Three dates set the next steps

On October 1, 2026, Vale filed its schedule for third-quarter results and said operational, sales and financial information would be combined in a new Performance Report, according to StockTitan. On October 13, 2026, Scotiabank revised its fiscal year 2026 estimate. On October 16, 2026, Vale completed the Thompson transaction.

Results arrive October 29

Vale's third-quarter 2026 results are scheduled for October 29, 2026, after the market close. The conference call and webcast follow on October 30, 2026, with the schedule specifying 10:00 a.m. New York time, according to StockTitan. Those dates put operating performance and the new integrated reporting format next in line for investors.

Stock price and market context

Vale's market capitalization was USD 59.03 billion and its 52-week range was USD 11.00 to USD 17.94 as of October 16, 2026. The company is listed on the NYSE under ticker VALE, and its business spans iron ore, nickel and copper.

Vale was trading at EUR 11.65 at Lang & Schwarz on October 20, 2026, at 11:33 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Vale stock.