VALE (VALE $20.19, Rating raised to Neutral from Underweight; price target raised to $25 from $22) ANALYSIS OF GOLD STREAM SALE TO SILVER WHEATON (SLW, $36.79); HIGHER 2013 ESTIMATED IRON ORE PRICES AND FUTURE EXPANSIONS HELP TO INCREASE EARNINGS AND REDUCE NET DEBT 2/6/2013

VALE (VALE $20.19, Rating raised to Neutral from Underweight; price target raised to
$25 from $22) ANALYSIS OF GOLD STREAM SALE TO SILVER WHEATON
(SLW, $36.79); HIGHER 2013 ESTIMATED IRON ORE PRICES AND FUTURE
EXPANSIONS HELP TO INCREASE EARNINGS AND REDUCE NET DEBT 2/6/2013