No-moat Vale VALE reported a solid 2022 result, albeit down on 2021, driven by lower iron ore prices and higher unit costs. Adjusted net profit after tax was USD 16.7 billion, or USD 3.61 per share, ...
Vale is executing the last part of its ‘bold buyback program’. To fund this program, cash levels dropped from US$13.5Bn in 2020 to a current level of US$4.8Bn. Secondly, net debt quadrupled in 2022 ...