NEW YORK (TheStreet) -- Shares of Vale (VALE) - Get Report were higher in late afternoon trading on Tuesday as the company moves to decide on the sale of two important assets this Thursday, Reuters said, citing the Valor Economico newspaper.
The mining company is looking to sell its Moatze coal mine, railway and port project in Mozambique to Japanese company Mitsui. The board is expected to approve the deal, according to Reuters.
Vale's potential sale of its fertilizer units will also be discussed at the meeting, Valor reports, Reuters notes.
Selling the two assets would earn Vale $5 billion by year's end 2017.
Also, the Rio de Janeiro-based company's Samarco mine missed an interest payment on a $500 million bond due yesterday, Reuters said, citing sources from the Bank of New York Mellon (BK).
Samarco will have 30 days to make the payment before investors would be allowed to declare that the principle be due immediately.
The Samarco mine is a joint venture with miner BHP Billiton, but operations were halted last year following a collapse which devastated the area and killed 19 people.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "sell" with a ratings score of D.
The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity and feeble growth in its earnings per share.
You can view the full analysis from the report here: VALE