NEW YORK (TheStreet) -- Shares of Vale (VALE) - Get Report  are rising 6.65% to $5.70 this afternoon ahead of the company's 2016 second quarter earnings report expected on Thursday before the opening bell.

Analysts are looking for the Brazilian mining company to report earnings of 38 cents per share on revenue of $6.58 billion.

For the 2015 second quarter, the company earned 19 cents per share and reported revenue of $7.08 billion.

Last week Vale reported higher second quarter iron ore production volumes, up 12% over the previous quarter. However, production fell 2.8% year-over-year, which analysts at Cowen attribute to a reduction of production at lower margin operations.

The company also said that annual volumes will fall at the lower end of its guidance of 380-400 million metric tons.

Cowen said the miner is focusing on production optimization, leading to the lower annual production forecast. The firm has a "market perform" rating and a $6 price target on the stock.

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.

You can view the full analysis from the report here: VALE

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