Barometer Capital Management Inc. acquired a new stake in shares of Vale S.A. (NYSE:VALE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 97,200 shares of the basic materials company's stock, valued at approximately $1,546,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC purchased a new stake in shares of Vale in the fourth quarter worth approximately $26,000. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna lifted its stake in Vale by 128.3% in the fourth quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna now owns 2,055 shares of the basic materials company's stock valued at $27,000 after acquiring an additional 1,155 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of Vale during the 4th quarter worth $33,000. Triumph Capital Management bought a new position in shares of Vale during the 3rd quarter valued at $34,000. Finally, Cornerstone Planning Group LLC raised its holdings in shares of Vale by 15,360.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 3,092 shares of the basic materials company's stock valued at $40,000 after purchasing an additional 3,072 shares in the last quarter. 21.85% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have commented on VALE shares. Morgan Stanley reissued an "equal weight" rating and set a $16.50 target price (down from $19.50) on shares of Vale in a research report on Wednesday, July 8th. Bank of America raised Vale from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $18.00 to $19.00 in a research report on Thursday, April 2nd. JPMorgan Chase & Co. upped their price target on Vale from $19.50 to $21.00 and gave the stock an "overweight" rating in a research note on Friday, June 12th. Weiss Ratings reissued a "hold (c)" rating on shares of Vale in a report on Wednesday, July 8th. Finally, Wall Street Zen cut Vale from a "buy" rating to a "hold" rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, Vale presently has an average rating of "Moderate Buy" and a consensus price target of $16.31.
Read Our Latest Stock Analysis on VALE
Vale Price Performance
VALE opened at $14.24 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.24 and a quick ratio of 0.79. The stock has a market capitalization of $64.66 billion, a P/E ratio of 21.26 and a beta of 0.46. The company's 50 day simple moving average is $15.44 and its 200-day simple moving average is $15.78. Vale S.A. has a one year low of $9.36 and a one year high of $17.94.
Vale (NYSE:VALE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.08). Vale had a net margin of 7.21% and a return on equity of 21.10%. The business had revenue of $9.26 billion during the quarter, compared to the consensus estimate of $9.53 billion. Sell-side analysts anticipate that Vale S.A. will post 1.98 earnings per share for the current fiscal year.
Vale Profile
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Free Report)
Vale SA is a Brazilian multinational mining company and one of the world's largest producers of iron ore and iron ore pellets. In addition to iron ore, the company produces and sells a range of bulk commodities and metals, including nickel, copper, coal, manganese, ferroalloys and cobalt, and it participates in the fertilizer inputs market. Vale also operates extensive logistics assets — including rail, port and maritime logistics — that support its mining and export activities and provide services to third parties in some regions.
Headquartered in Brazil, Vale maintains a global operational footprint with mining, processing and shipping activities across the Americas, Africa, Asia and Oceania.
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