Vale's strong cash flow generation of US$3.1bn led the company to virtually achieve its net debt target for the third quarter.
According to the bank, the Brazilian miner's investment case offers an attractive valuation, a deleveraged balance sheet, and a healthy dividend yield.
Higher grades and throughput at Peñasquito and Cerro Negro will help boost Goldcorp's output in Q4, with further improvements due for 2019.
Production slumps and costs soar at Goldcorp's Mexican mine due to commissioning of the US$420mn pyrite leach plant project, contributing to a US$101mn Q3 loss.
The company with assets in across Latin America reported a Q3 net loss and lower adjusted net earnings also because of lower gold and copper prices.
The ruling, which is not subject to appeal, represents a severe setback to Julio Ponce's efforts to keep the Chinse company out of SQM.
The Mexican miner lowers silver production guidance for the second time following challenges at its Fresnillo and Saucito operations, while gold guidance rises.