352,044 Shares of Vale S.A. $VALE Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments bought 352,044 Vale shares in the third quarter, valued at approximately $4.72 million.
• Vale reported quarterly EPS of $0.29, below the $0.38 analyst consensus, while revenue of $10.60 billion exceeded estimates of $10.45 billion.
• Analyst sentiment is largely neutral: 10 analysts rate the stock Hold, and its average price target is $14.96. Several firms recently lowered their targets.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Vale S.A. (NYSE:VALE - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 352,044 shares of the basic materials company's stock, valued at approximately $4,721,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nykredit A S purchased a new position in Vale in the second quarter worth approximately $3,162,000. Corient Private Wealth LP acquired a new stake in Vale during the second quarter worth $1,119,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Vale by 445.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 115,656 shares of the basic materials company's stock valued at $1,739,000 after purchasing an additional 94,466 shares during the period. Amundi raised its position in Vale by 27.4% in the second quarter. Amundi now owns 2,243,230 shares of the basic materials company's stock valued at $33,738,000 after purchasing an additional 482,313 shares during the period. Finally, Kapitalo Investimentos Ltda raised its position in Vale by 16.6% in the second quarter. Kapitalo Investimentos Ltda now owns 766,128 shares of the basic materials company's stock valued at $11,523,000 after purchasing an additional 109,092 shares during the period. Institutional investors and hedge funds own 21.85% of the company's stock.

Vale Stock Down 0.1%

Shares of NYSE VALE opened at $11.41 on Friday. The firm has a market cap of $51.81 billion, a price-to-earnings ratio of 7.99 and a beta of 0.50. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.44. Vale S.A. has a 52-week low of $10.96 and a 52-week high of $17.94. The business's 50 day moving average is $13.57 and its two-hundred day moving average is $15.18.

Vale (NYSE:VALE - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The basic materials company reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.09). Vale had a return on equity of 16.54% and a net margin of 1.64%. The firm had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.45 billion. Research analysts predict that Vale S.A. will post 1.56 EPS for the current year.

Analyst Upgrades and Downgrades

VALE has been the subject of a number of research analyst reports. Barclays lowered their price target on Vale from $15.00 to $14.50 and set an "equal weight" rating for the company in a report on Monday. Wells Fargo & Company reduced their price objective on shares of Vale from $15.00 to $13.00 and set an "equal weight" rating on the stock in a report on Tuesday. Freedom Broker decreased their target price on shares of Vale from $12.00 to $9.50 and set a "buy" rating on the stock in a research report on Monday. Weiss Ratings cut shares of Vale from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, October 29th. Finally, Sanford C. Bernstein increased their target price on shares of Vale from $12.00 to $12.50 and gave the stock a "market perform" rating in a research note on Wednesday, September 9th. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Vale has an average rating of "Hold" and an average target price of $14.96.

Vale Company Profile

Vale SA is a Brazil-based global mining and logistics company best known for producing iron ore and iron ore pellets, key raw materials used in steelmaking. The company also produces nickel, copper, manganese ore, coal and other mineral products, with operations spanning exploration, extraction, processing and transportation.

Vale operates an extensive logistics network that includes railways, ports and maritime transportation systems, primarily supporting the movement of minerals from its production sites to domestic and international customers.

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