17 Cheap Stocks Under $20 to Buy Now

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

Stock Price: $13.10

Forward P/E: 6.20

Number of Hedge Fund Holders: 37

Vale S.A. (NYSE:VALE) is one of the top cheap stocks under $20 to buy now. Wells Fargo analyst Timna Tanners lifted the price target on Vale S.A. (NYSE:VALE) to $13 from $12 on December 23 and maintained an Equal Weight rating on the shares, telling investors that supply constraints have the potential to support aluminum and copper prices, especially through fiscal Q3 2026. The firm added that steep power costs and copper switching are particularly significant for a boost in aluminum.

In a separate development, Vale S.A. (NYSE:VALE) announced on December 8 the signing of an agreement with Caterpillar and Sotreq for the expansion of the fleet of autonomous haul trucks in iron ore operations in the Northern System, in the Carajás region, in Pará.

Management explained that the technology would gradually be expanded over the next five years at the Serra Norte and Serra Sul units, allowing further growth in the company’s safety standards, operational efficiency, and sustainability. The implementation would be supported by an initiative to develop and prepare employees to undertake strategic functions in the digital environment.

The Northern System operation presently has 14 autonomous haul trucks and holds the capacity to carry up to 320 tons, with the new agreement expanding the fleet to around 90 autonomous trucks in the region by 2028. This would be operated by Cat® MineStar™ Command for hauling, and includes trucks with a capacity to carry up to 400-tons.

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.