Published On: September 9th, 2024Categories: Trade Ideas
In this investment case, we focus our attention on Vale SA, the world’s second largest producer of iron ore and iron ore pellets, and the world’s largest producer of nickel. We appreciate the solidity of Vale’s balance sheet, characterized by low leverage metrics, a conservative capital structure, and robust EBITDA and cash flow generation capabilities. We have a positive view on Vale’s bonds, which offer attractive spread levels and should benefit from the still decent operating environment.
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