Jennison Associates LLC Purchases 317,150 Shares of Vale S.A. (NYSE:VALE)

Jennison Associates LLC grew its holdings in shares of Vale S.A. (NYSE:VALE - Free Report) by 81.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 706,538 shares of the basic materials company's stock after purchasing an additional 317,150 shares during the quarter. Jennison Associates LLC's holdings in Vale were worth $7,051,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in VALE. Atlas Capital Advisors Inc. grew 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 valued at $35,000 after buying an additional 1,623 shares during the period. J.Safra Asset Management Corp purchased a new position in shares of Vale during the 1st quarter worth $41,000. Golden State Wealth Management LLC boosted its stake in shares of Vale by 193.0% during the 1st 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 last quarter. Allworth Financial LP grew its position in shares of Vale by 233.7% during the 1st quarter. Allworth Financial LP now owns 5,440 shares of the basic materials company's stock valued at $53,000 after acquiring an additional 3,810 shares during the period. Finally, Wayfinding Financial LLC purchased a new stake in shares of Vale in the 1st quarter worth $64,000. Institutional investors own 21.85% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. UBS Group lowered their target price on Vale from $10.50 to $9.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. CICC Research started coverage on Vale in a research note on Monday, May 12th. They issued an "outperform" rating and a $11.30 price objective on the stock. Wall Street Zen began coverage on Vale in a research note on Wednesday, May 7th. They set a "hold" rating for the company. Barclays increased their target price on shares of Vale from $12.75 to $13.00 and gave the stock an "overweight" rating in a report on Wednesday, July 2nd. Finally, Bank of America raised shares of Vale from a "neutral" rating to a "buy" rating and lifted their price target 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, Vale has an average rating of "Hold" and an average target price of $11.73.

Vale Price Performance

NYSE VALE traded down $0.18 during trading hours on Thursday, reaching $10.23. The company's stock had a trading volume of 58,863,130 shares, compared to its average volume of 52,263,780. Vale S.A. has a 1 year low of $8.06 and a 1 year high of $12.05. The company has a quick ratio of 0.74, a current ratio of 1.11 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $46.41 billion, a price-to-earnings ratio of 7.41, a PEG ratio of 0.35 and a beta of 0.77. The firm's 50-day moving average price is $9.67 and its 200-day moving average price is $9.50.

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

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.