10 Best Affordable Stocks Under $30

5. Vale S.A. (NYSE:VALE)

Stock Price: $13.98

Forward P/E: 6.57

Number of Hedge Fund Holders: 37

Vale S.A. (NYSE:VALE) is one of the best affordable stocks under $30. Barclays lifted the price target on Vale S.A. (NYSE:VALE) to $15.50 from $14.50 on January 8 and reiterated an Overweight rating, telling investors that it is “constructive” on the European miners while seeing upside risks for copper and precious metals in a backdrop expecting a Federal Reserve easing cycle. The same day, Scotiabank downgraded Vale S.A. (NYSE:VALE) to Sector Perform from Outperform and set a $15 price target.

Vale S.A. (NYSE:VALE) also received several updates in December. Wells Fargo lifted the price target on the stock to $13 from $12 on December 23 while maintaining an Equal Weight rating on the shares. The firm supported the rating update by telling investors in a research note that supply constraints have the potential to support aluminum and copper prices, especially through fiscal Q3 2026. It added that steep power costs and copper switching are particularly significant for a boost in aluminum.

Vale S.A. (NYSE:VALE) produces and exports copper, pellets, iron ore, manganese, and iron alloys. Its operations are divided into the Energy Transition Materials, Iron Solutions, and Coal and Others segments.