Mackenzie Financial Corp Acquires 531,572 Shares of Vale S.A. (NYSE:VALE)

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 holdings in shares of Vale S.A. (NYSE:VALE - Free Report) by 248.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 745,598 shares of the basic materials company's stock after acquiring an additional 531,572 shares during the period. Mackenzie Financial Corp's holdings in Vale were worth $7,441,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LPL Financial LLC lifted its holdings in Vale by 9.6% during the 4th quarter. LPL Financial LLC now owns 735,445 shares of the basic materials company's stock valued at $6,523,000 after purchasing an additional 64,448 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Vale by 3.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 94,408 shares of the basic materials company's stock valued at $837,000 after purchasing an additional 3,416 shares during the last quarter. Orion Portfolio Solutions LLC lifted its holdings in Vale by 31.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 16,242 shares of the basic materials company's stock valued at $144,000 after purchasing an additional 3,923 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Vale by 64.6% during the 4th quarter. Wellington Management Group LLP now owns 3,713,475 shares of the basic materials company's stock valued at $32,939,000 after purchasing an additional 1,457,586 shares during the last quarter. Finally, Summit Financial LLC bought a new position in Vale during the 4th quarter valued at about $231,000. 21.85% of the stock is owned by institutional investors.

Vale Stock Down 1.1%

Shares of NYSE:VALE opened at $9.53 on Friday. Vale S.A. has a one year low of $8.06 and a one year high of $12.05. The company has a 50 day moving average of $9.68 and a 200-day moving average of $9.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.11 and a quick ratio of 0.74. The stock has a market cap of $43.23 billion, a price-to-earnings ratio of 6.90, a P/E/G ratio of 0.32 and a beta of 0.77.

Vale (NYSE:VALE - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.44 by $0.06. Vale had a net margin of 15.54% and a return on equity of 17.65%. On average, sell-side analysts forecast that Vale S.A. will post 1.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Scotiabank cut their price target on shares of Vale from $13.00 to $12.50 and set a "sector perform" rating for the company in a report on Tuesday, July 22nd. Wall Street Zen assumed coverage on shares of Vale in a research report on Wednesday, May 7th. They issued a "hold" rating for the company. CICC Research assumed coverage on shares of Vale in a research report on Monday, May 12th. They issued an "outperform" rating and a $11.30 price objective for the company. Bank of America upgraded shares of Vale from a "neutral" rating to a "buy" rating and raised their price objective for the company from $11.00 to $11.50 in a research report on Thursday, April 10th. Finally, UBS Group lowered their price objective 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. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $11.73.

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.

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