Pacific Heights Asset Management LLC Increases Stake in VALE S.A. (NYSE:VALE)

Pacific Heights Asset Management LLC raised its position in VALE S.A. (NYSE:VALE - Free Report) by 25.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 500,000 shares of the basic materials company's stock after acquiring an additional 100,000 shares during the period. Pacific Heights Asset Management LLC's holdings in VALE were worth $4,990,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC increased its position in shares of VALE by 28.8% during the fourth quarter. FMR LLC now owns 47,163,226 shares of the basic materials company's stock worth $418,338,000 after acquiring an additional 10,557,888 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in VALE by 20.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 33,995,398 shares of the basic materials company's stock valued at $301,541,000 after purchasing an additional 5,775,590 shares during the last quarter. Lazard Asset Management LLC increased its holdings in VALE by 49.3% during the 4th quarter. Lazard Asset Management LLC now owns 18,238,313 shares of the basic materials company's stock worth $161,773,000 after purchasing an additional 6,023,144 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in VALE by 328.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 17,349,581 shares of the basic materials company's stock worth $153,891,000 after purchasing an additional 13,298,912 shares in the last quarter. Finally, Mondrian Investment Partners LTD raised its stake in shares of VALE by 13.3% in the fourth quarter. Mondrian Investment Partners LTD now owns 11,754,809 shares of the basic materials company's stock worth $109,202,000 after purchasing an additional 1,381,475 shares during the last quarter. Institutional investors own 21.85% of the company's stock.

Analyst Upgrades and Downgrades

VALE has been the topic of several analyst reports. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $11.00 target price (down previously from $12.00) on shares of VALE in a research report on Thursday, April 17th. CICC Research assumed coverage on shares of VALE in a report on Monday, May 12th. They set an "outperform" rating and a $11.30 price objective on the stock. Barclays upped their target price on shares of VALE from $12.75 to $13.00 and gave the stock an "overweight" rating in a research note on Wednesday. Wall Street Zen started coverage on shares of VALE in a research report on Wednesday, May 7th. They set a "hold" rating on the stock. Finally, Bank of America raised shares of VALE from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $11.00 to $11.50 in a research report on Thursday, April 10th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, VALE currently has a consensus rating of "Hold" and a consensus target price of $11.79.

VALE Stock Performance

NYSE VALE traded down $0.03 during trading hours on Friday, reaching $10.25. 23,864,295 shares of the company were exchanged, compared to its average volume of 32,557,208. VALE S.A. has a 1 year low of $8.06 and a 1 year high of $12.05. The business's 50 day simple moving average is $9.51 and its 200-day simple moving average is $9.38. The company has a quick ratio of 0.74, a current ratio of 1.11 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $46.52 billion, a P/E ratio of 7.43, a P/E/G ratio of 0.33 and a beta of 0.77.

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

VALE Company Profile

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.