National Bank of Canada FI Purchases 33,268 Shares of Vale S.A. $VALE

Key Points

• National Bank of Canada FI increased its holdings in Vale S.A. by 35.1% during Q1, acquiring an additional 33,268 shares, bringing their total to 128,082 shares valued at approximately $1.28 million.
• Vale reported a Q2 earnings per share (EPS) of $0.50, exceeding analyst expectations, with revenue of $8.80 billion, below the anticipated $9.54 billion.
• The company announced a semi-annual dividend of $0.3417 per share, with a high dividend yield of 740.0% and a payout ratio of 58.54%.

National Bank of Canada FI grew its holdings in Vale S.A. (NYSE:VALE - Free Report) by 35.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,082 shares of the basic materials company's stock after purchasing an additional 33,268 shares during the quarter. National Bank of Canada FI's holdings in Vale were worth $1,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. J.Safra Asset Management Corp acquired a new position in Vale during the 1st quarter worth approximately $41,000. Golden State Wealth Management LLC raised its stake in 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 buying an additional 2,713 shares during the period. Allworth Financial LP raised its stake in Vale by 233.7% during the 1st quarter. Allworth Financial LP now owns 5,440 shares of the basic materials company's stock worth $53,000 after buying an additional 3,810 shares during the period. Wayfinding Financial LLC acquired a new position in Vale during the 1st quarter worth approximately $64,000. Finally, Deuterium Capital Management LLC acquired a new position in Vale during the 1st quarter worth approximately $100,000. 21.85% of the stock is owned by institutional investors and hedge funds.

Vale Stock Performance

Shares of VALE stock traded down $0.1050 during trading on Tuesday, hitting $9.7050. The company's stock had a trading volume of 24,904,015 shares, compared to its average volume of 37,590,844. The business has a fifty day moving average of $9.81 and a 200-day moving average of $9.64. Vale S.A. has a 52 week low of $8.06 and a 52 week high of $12.05. The company has a market cap of $44.05 billion, a PE ratio of 7.89 and a beta of 0.74. The company has a current ratio of 1.22, a quick ratio of 0.85 and a debt-to-equity ratio of 0.48.

Vale (NYSE:VALE - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.16. Vale had a return on equity of 18.14% and a net margin of 14.23%.The business had revenue of $8.80 billion during the quarter, compared to analyst estimates of $9.54 billion. As a group, research analysts anticipate that Vale S.A. will post 1.85 earnings per share for the current year.

Vale Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, September 10th. Investors of record on Wednesday, August 13th will be given a $0.3417 dividend. This represents a dividend yield of 740.0%. The ex-dividend date is Wednesday, August 13th. Vale's dividend payout ratio (DPR) is 58.54%.

Analyst Upgrades and Downgrades

VALE has been the topic of a number of research reports. UBS Group reaffirmed a "neutral" rating and set a $10.00 price target (up from $9.00) on shares of Vale in a research note on Monday, August 4th. Scotiabank decreased their price objective on Vale from $13.00 to $12.50 and set a "sector perform" rating for the company in a report on Tuesday, July 22nd. Barclays boosted their price objective on Vale from $12.75 to $13.00 and gave the stock an "overweight" rating in a report on Wednesday, July 2nd. Wall Street Zen started coverage on Vale in a report on Wednesday, May 7th. They set a "hold" rating for the company. Finally, CICC Research started coverage on Vale in a report on Monday, May 12th. They set an "outperform" rating and a $11.30 price objective for the company. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.