OMERS ADMINISTRATION Corp Makes New Investment in Vale S.A. $VALE

Key Points

• OMERS ADMINISTRATION Corp disclosed a new position in Vale S.A., buying 8.06 million shares in the first quarter worth about $128.2 million.
• Vale shares were down slightly, with the stock opening at $14.79; the company has a market cap of about $67.15 billion and trades below its 52-week high of $17.94.
• Vale’s latest quarterly results missed analyst expectations, reporting EPS of $0.44 versus $0.52 expected and revenue of $9.26 billion versus $9.53 billion expected, though Wall Street still rates the stock a Moderate Buy overall.

OMERS ADMINISTRATION Corp bought a new stake in shares of Vale S.A. (NYSE:VALE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,060,262 shares of the basic materials company's stock, valued at approximately $128,239,000. OMERS ADMINISTRATION Corp owned 0.18% of Vale as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the business. N.E.W. Advisory Services LLC bought a new position in shares of Vale during the fourth quarter valued at approximately $26,000. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna increased its holdings in Vale by 128.3% during the fourth quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna now owns 2,055 shares of the basic materials company's stock valued at $27,000 after buying an additional 1,155 shares during the period. Bruce G. Allen Investments LLC bought a new position in Vale in the fourth quarter worth approximately $33,000. Triumph Capital Management bought a new position in Vale in the third quarter worth approximately $34,000. Finally, Cornerstone Planning Group LLC lifted its holdings in Vale by 15,360.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 3,092 shares of the basic materials company's stock worth $40,000 after buying an additional 3,072 shares during the period. Institutional investors own 21.85% of the company's stock.

Vale Trading Down 0.2%

NYSE:VALE opened at $14.79 on Friday. The stock has a market capitalization of $67.15 billion, a price-to-earnings ratio of 22.08 and a beta of 0.46. Vale S.A. has a 52 week low of $9.36 and a 52 week high of $17.94. The company has a quick ratio of 0.79, a current ratio of 1.24 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average of $15.34 and a 200 day moving average of $15.80.

Vale (NYSE:VALE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The basic materials company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.08). The business had revenue of $9.26 billion for the quarter, compared to analysts' expectations of $9.53 billion. Vale had a net margin of 7.21% and a return on equity of 21.10%. As a group, sell-side analysts anticipate that Vale S.A. will post 1.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on VALE shares. JPMorgan Chase & Co. increased their target price on Vale from $19.50 to $21.00 and gave the company an "overweight" rating in a research report on Friday, June 12th. Bank of America raised Vale from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $18.00 to $19.00 in a research report on Thursday, April 2nd. Morgan Stanley restated an "equal weight" rating and set a $16.50 price objective (down from $19.50) on shares of Vale in a research note on Wednesday, July 8th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Vale in a research report on Monday, June 15th. Finally, Wells Fargo & Company cut their target price on Vale from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Vale currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.31.

Vale Profile

Vale SA is a Brazilian multinational mining company and one of the world's largest producers of iron ore and iron ore pellets. In addition to iron ore, the company produces and sells a range of bulk commodities and metals, including nickel, copper, coal, manganese, ferroalloys and cobalt, and it participates in the fertilizer inputs market. Vale also operates extensive logistics assets — including rail, port and maritime logistics — that support its mining and export activities and provide services to third parties in some regions.

Headquartered in Brazil, Vale maintains a global operational footprint with mining, processing and shipping activities across the Americas, Africa, Asia and Oceania.

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