Pekin Hardy Strauss Inc. Has $875,000 Stock Position in Vale S.A. (NYSE:VALE)

Pekin Hardy Strauss Inc. increased its position in Vale S.A. (NYSE:VALE - Free Report) by 78.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 87,664 shares of the basic materials company's stock after buying an additional 38,650 shares during the period. Pekin Hardy Strauss Inc.'s holdings in Vale were worth $875,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in VALE. Atlas Capital Advisors Inc. grew its holdings in Vale by 68.3% during the fourth quarter. Atlas Capital Advisors Inc. now owns 4,000 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 1,623 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in Vale during the first quarter valued at approximately $41,000. Golden State Wealth Management LLC grew its holdings in 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 valued at $41,000 after purchasing an additional 2,713 shares during the last quarter. Wayfinding Financial LLC acquired a new position in Vale during the first quarter valued at approximately $64,000. Finally, Mountain Hill Investment Partners Corp. acquired a new position in Vale during the fourth quarter valued at approximately $80,000. Institutional investors and hedge funds own 21.85% of the company's stock.

Vale Stock Performance

VALE stock traded up $0.17 during midday trading on Friday, hitting $10.13. The stock had a trading volume of 47,687,536 shares, compared to its average volume of 33,001,492. The firm has a market capitalization of $45.98 billion, a price-to-earnings ratio of 7.34, a P/E/G ratio of 0.32 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. The stock has a 50-day simple moving average of $9.58 and a 200 day simple moving average of $9.43. The company has a current ratio of 1.11, a quick ratio of 0.74 and a debt-to-equity ratio of 0.49.

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

Wall Street Analysts Forecast Growth

VALE has been the subject of several research reports. Royal Bank Of Canada reissued a "sector perform" rating and issued a $11.00 price objective (down from $12.00) on shares of Vale in a research report on Thursday, April 17th. Wall Street Zen initiated coverage on Vale in a research report on Wednesday, May 7th. They issued a "hold" rating for the company. Barclays increased their price objective on Vale from $12.75 to $13.00 and gave the company an "overweight" rating in a research report on Wednesday, July 2nd. CICC Research initiated coverage on Vale in a research report on Monday, May 12th. They issued an "outperform" rating and a $11.30 price objective for the company. Finally, UBS Group reduced their price objective on Vale from $10.50 to $9.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $11.79.

Vale 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.