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Vale’s Share Price Drops as Miner Posts Quarterly Loss
Feb. 27, 2015 08:34AM PST
Base Metals Investing MINING.com reported that shares in Brazil’s Vale SA (NYSE:VALE) dropped after the miner posted a second consecutive quarterly loss.
MINING.com reported that shares in Brazil’s Vale SA (NYSE:VALE) dropped after the miner posted a second consecutive quarterly loss.
As quoted in the market news:
The stock was down over 4% to $7.40 at 12:55 pm ET, after having shed almost 6% in early trading.
The company’s fourth-quarter net loss narrowed to $1.85 billion, or 36 cents a share, from a record loss of $6.45 billion, or $1.26, a year earlier, as prices fell and Brazil’s weakening currency increased debt costs.