Oxbow Advisors LLC acquired a new position in shares of VALE S.A. (NYSE:VALE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 489,803 shares of the basic materials company's stock, valued at approximately $4,888,000.
Several other hedge funds have also recently bought and sold shares of the stock. Oppenheimer & Co. Inc. acquired a new position in VALE during the first quarter valued at approximately $228,000. Golden State Wealth Management LLC grew its stake in shares of VALE by 193.0% during the first 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 last quarter. Cornerstone Wealth Management LLC grew its stake in shares of VALE by 20.4% during the first quarter. Cornerstone Wealth Management LLC now owns 15,954 shares of the basic materials company's stock worth $159,000 after buying an additional 2,707 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of VALE by 38.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 22,522 shares of the basic materials company's stock worth $225,000 after buying an additional 6,261 shares during the last quarter. Finally, Merit Financial Group LLC grew its stake in shares of VALE by 44.4% during the first quarter. Merit Financial Group LLC now owns 20,847 shares of the basic materials company's stock worth $208,000 after buying an additional 6,412 shares during the last quarter. 21.85% of the stock is currently owned by institutional investors and hedge funds.
VALE Price Performance
NYSE VALE traded up $0.10 on Wednesday, hitting $9.79. The stock had a trading volume of 46,678,784 shares, compared to its average volume of 33,222,242. The firm has a 50-day moving average of $9.60 and a 200-day moving average of $9.44. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.74 and a current ratio of 1.11. The company has a market capitalization of $44.41 billion, a price-to-earnings ratio of 7.09, a price-to-earnings-growth ratio of 0.31 and a beta of 0.77. VALE S.A. has a 52-week low of $8.06 and a 52-week high of $12.05.
VALE (NYSE:VALE - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $8.12 billion for the quarter, compared to analysts' expectations of $8.39 billion. VALE had a net margin of 15.54% and a return on equity of 17.65%. Equities analysts expect that VALE S.A. will post 1.85 EPS for the current year.
Wall Street Analyst Weigh In
A number of analysts have weighed in on VALE shares. UBS Group decreased their target price on shares of VALE from $10.50 to $9.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Wall Street Zen started coverage on shares of VALE in a research note on Wednesday, May 7th. They issued a "hold" rating on the stock. CICC Research started coverage on shares of VALE in a research note on Monday, May 12th. They issued an "outperform" rating and a $11.30 price objective on the stock. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $11.00 price target (down previously from $12.00) on shares of VALE in a research report on Thursday, April 17th. Finally, Bank of America raised shares of VALE from a "neutral" rating to a "buy" rating and upped their price target for the company from $11.00 to $11.50 in a research report on Thursday, April 10th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $11.79.
Read Our Latest Report on VALE
About VALE
(
Free Report)
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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