NEW YORK (TheStreet) -- Shares of Vale SA are higher by 2.03% to $5.52 in mid-day trading on Wednesday afternoon, as iron ore makes a surprising return to a bull market, Bloomberg reports. Some larger Wall Street firms are still expecting the steel making ingredient to decline further, however the price has jumped by more than 20% from its low on July 8. The increase in iron ore prices helped Vale, the largest producer of the material in the world, rally at a time when more analysts are recommending "hold" or "sell" ratings on shares than they are "buy" ratings, Bloomberg noted. "That tells me traders are much more focused on short term prospects," Guide Investimentos analyst Rafel Ohmachi told Bloomberg. Additionally, Vale will release its 2015 second quarter earnings results before the market open on Thursday morning.