61,113 Shares in Vale S.A. (NYSE:VALE) Bought by Perigon Wealth Management LLC

Perigon Wealth Management LLC purchased a new position in shares of Vale S.A. (NYSE:VALE - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 61,113 shares of the basic materials company's stock, valued at approximately $610,000.

A number of other hedge funds have also recently added to or reduced their stakes in VALE. IFP Advisors Inc raised its position in Vale by 206.4% during the fourth quarter. IFP Advisors Inc now owns 2,877 shares of the basic materials company's stock worth $26,000 after acquiring an additional 1,938 shares during the period. Atlas Capital Advisors Inc. raised its position in Vale by 68.3% during the fourth quarter. Atlas Capital Advisors Inc. now owns 4,000 shares of the basic materials company's stock worth $35,000 after acquiring an additional 1,623 shares during the period. Golden State Wealth Management LLC raised its position in Vale by 193.0% during the first quarter. Golden State Wealth Management LLC now owns 4,119 shares of the basic materials company's stock worth $41,000 after acquiring an additional 2,713 shares during the period. Mountain Hill Investment Partners Corp. acquired a new position in Vale during the fourth quarter worth $80,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Vale by 88.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 9,738 shares of the basic materials company's stock valued at $86,000 after buying an additional 4,580 shares during the last quarter. 21.85% of the stock is owned by hedge funds and other institutional investors.

Vale Trading Up 2.8%

Shares of VALE opened at $9.74 on Monday. The company has a current ratio of 1.11, a quick ratio of 0.74 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $44.19 billion, a P/E ratio of 7.05, a P/E/G ratio of 0.31 and a beta of 0.76. The firm has a 50-day moving average price of $9.47 and a 200 day moving average price of $9.36. Vale S.A. has a 12-month low of $8.06 and a 12-month high of $12.05.

Vale (NYSE:VALE - Get Free Report) last announced its earnings results on Thursday, April 24th. The basic materials company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.02). The company had revenue of $8.12 billion for the quarter, compared to analysts' expectations of $8.39 billion. Vale had a return on equity of 17.65% and a net margin of 15.54%. Sell-side analysts forecast that Vale S.A. will post 1.85 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on VALE. CICC Research began coverage on shares of Vale in a research report on Monday, May 12th. They issued an "outperform" rating and a $11.30 target price for the company. UBS Group reduced their target price on shares of Vale from $10.50 to $9.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Wall Street Zen began coverage on shares of Vale in a research report on Wednesday, May 7th. They issued a "hold" rating for the company. Royal Bank Of Canada reissued a "sector perform" rating and issued a $11.00 price objective (down previously from $12.00) on shares of Vale in a report on Thursday, April 17th. Finally, Bank of America raised shares of Vale from a "neutral" rating to a "buy" rating and upped their price objective for the company from $11.00 to $11.50 in a report on Thursday, April 10th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Vale currently has a consensus rating of "Hold" and a consensus target price of $12.04.

Vale Company Profile

Vale SA, together with its subsidiaries, produces and sells iron ore and iron ore pellets for use as raw materials in steelmaking in Brazil and internationally. The company operates through Iron Solutions and Energy Transition Materials segments. The Iron Solutions segment produces and extracts iron ore and pellets, manganese, and other ferrous products; and provides related logistic services.

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