Vale SA ADR

VALE: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Vale Earnings: Weaker Due to Its Key Iron Ore Business, Though Base Metals Stronger

Jon Mills

Nov 3, 2026

Vale's third-quarter adjusted EBITDA fell 20% from the same quarter last year to USD 3.5 billion, and 14% from the prior quarter. Reduced iron ore earnings on lower realized prices and higher unit costs were partially offset by improved base metals earnings due to stronger prices.

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Vale SA ADR

Vale Earnings: Weaker Due to Its Key Iron Ore Business, Though Base Metals Stronger

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