Ninety One SA PTY Ltd Makes New Investment in Vale S.A. (NYSE:VALE)

Ninety One SA PTY Ltd bought a new position in shares of Vale S.A. (NYSE:VALE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 44,875 shares of the basic materials company's stock, valued at approximately $444,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Assetmark Inc. raised its position in shares of Vale by 11.3% during the fourth quarter. Assetmark Inc. now owns 204,231 shares of the basic materials company's stock worth $1,812,000 after purchasing an additional 20,735 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Vale during the fourth quarter worth about $11,122,000. Amundi raised its position in shares of Vale by 7.6% during the fourth quarter. Amundi now owns 1,407,451 shares of the basic materials company's stock worth $11,963,000 after purchasing an additional 100,000 shares during the period. Pzena Investment Management LLC raised its position in shares of Vale by 12.8% during the fourth quarter. Pzena Investment Management LLC now owns 285,881 shares of the basic materials company's stock worth $2,536,000 after purchasing an additional 32,483 shares during the period. Finally, Wealthfront Advisers LLC acquired a new stake in shares of Vale during the fourth quarter worth about $1,962,000. Institutional investors own 21.85% of the company's stock.

Vale Stock Down 2.6%

NYSE:VALE opened at $9.95 on Tuesday. The firm has a market capitalization of $45.16 billion, a price-to-earnings ratio of 7.21, a price-to-earnings-growth ratio of 0.33 and a beta of 0.77. Vale S.A. has a twelve month low of $8.06 and a twelve month high of $12.05. The stock's 50 day moving average price is $9.54 and its two-hundred day moving average price is $9.41. The company has a quick ratio of 0.74, a current ratio of 1.11 and a debt-to-equity ratio of 0.49.

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

Analyst Upgrades and Downgrades

VALE has been the topic of a number of research analyst reports. CICC Research initiated coverage on Vale in a research report on Monday, May 12th. They set an "outperform" rating and a $11.30 price target on the stock. UBS Group dropped their price target on Vale from $10.50 to $9.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Bank of America raised Vale from a "neutral" rating to a "buy" rating and raised their price target for the stock from $11.00 to $11.50 in a research report on Thursday, April 10th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $11.00 target price (down previously from $12.00) on shares of Vale in a research report on Thursday, April 17th. Finally, Barclays lifted their target price on Vale from $12.75 to $13.00 and gave the company an "overweight" rating in a research report on Wednesday, July 2nd. Six equities research 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.com, Vale presently has a consensus rating of "Hold" and a consensus price target of $11.79.

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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