Vale S.A. (NYSE:VALE) Shares Bought by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp significantly increased its holdings in Vale S.A. by 248.4%, acquiring 531,572 shares during the first quarter, bringing their total ownership to 745,598 shares valued at approximately $7.44 million.
• Vale's stock price has experienced a decrease of 1.1%, with current trading at $9.53 after reaching a one-year high of $12.05 and a low of $8.06.
• Analysts have mixed opinions on Vale, with ratings ranging from "hold" to "buy", and a consensus price target of $11.73, reflecting varied expectations on the company's performance.

Mackenzie Financial Corp lifted its stake in Vale S.A. (NYSE:VALE - Free Report) by 248.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 745,598 shares of the basic materials company's stock after purchasing an additional 531,572 shares during the period. Mackenzie Financial Corp's holdings in Vale were worth $7,441,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. FMR LLC grew its position in Vale by 28.8% in the 4th quarter. FMR LLC now owns 47,163,226 shares of the basic materials company's stock valued at $418,338,000 after acquiring an additional 10,557,888 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of Vale by 49.3% during the 4th quarter. Lazard Asset Management LLC now owns 18,238,313 shares of the basic materials company's stock valued at $161,773,000 after buying an additional 6,023,144 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Vale by 20.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 33,995,398 shares of the basic materials company's stock valued at $301,541,000 after buying an additional 5,775,590 shares during the period. Balyasny Asset Management L.P. raised its position in shares of Vale by 6,547.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 4,782,424 shares of the basic materials company's stock worth $42,420,000 after purchasing an additional 4,710,481 shares during the last quarter. Finally, Woodline Partners LP purchased a new stake in shares of Vale during the fourth quarter worth $39,775,000. Institutional investors own 21.85% of the company's stock.

Vale Stock Up 0.2%

VALE stock traded up $0.02 during trading on Tuesday, reaching $9.87. The stock had a trading volume of 19,755,398 shares, compared to its average volume of 38,227,418. 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 fifty day moving average price of $9.69 and a 200 day moving average price of $9.57. The company has a market capitalization of $44.79 billion, a P/E ratio of 8.03 and a beta of 0.74. Vale S.A. has a 1-year low of $8.06 and a 1-year high of $12.05.

Vale (NYSE:VALE - Get Free Report) last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.16. The business had revenue of $8.80 billion for the quarter, compared to analyst estimates of $9.54 billion. Vale had a return on equity of 18.58% and a net margin of 14.23%. On average, equities analysts anticipate that Vale S.A. will post 1.85 earnings per share for the current year.

Vale Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 13th will be paid a dividend of $0.3417 per share. This represents a dividend yield of 740.0%. The ex-dividend date is Wednesday, August 13th. Vale's dividend payout ratio is 60.98%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on VALE shares. Wall Street Zen initiated coverage on shares of Vale in a research note on Wednesday, May 7th. They set a "hold" rating on the stock. Barclays raised their price objective on shares of Vale from $12.75 to $13.00 and gave the company an "overweight" rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada restated a "sector perform" rating and set a $11.00 target price (down from $12.00) on shares of Vale in a research report on Thursday, April 17th. Scotiabank decreased their price target on Vale from $13.00 to $12.50 and set a "sector perform" rating on the stock in a research note on Tuesday, July 22nd. Finally, UBS Group boosted their price objective on shares of Vale from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Monday. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $11.84.

About Vale

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.