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

Pekin Hardy Strauss Inc. raised its holdings in Vale S.A. (NYSE:VALE - Free Report) by 78.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. 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.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fullcircle Wealth LLC acquired a new position in shares of Vale during the 1st quarter worth about $122,000. Envestnet Asset Management Inc. increased its stake in shares of Vale by 21.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 902,300 shares of the basic materials company's stock worth $9,005,000 after purchasing an additional 158,194 shares during the last quarter. Wayfinding Financial LLC acquired a new position in shares of Vale during the 1st quarter worth about $64,000. Pacific Heights Asset Management LLC increased its stake in shares of Vale by 25.0% during the 1st quarter. Pacific Heights Asset Management LLC now owns 500,000 shares of the basic materials company's stock worth $4,990,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Checchi Capital Advisers LLC increased its stake in shares of Vale by 5.7% during the 1st quarter. Checchi Capital Advisers LLC now owns 37,339 shares of the basic materials company's stock worth $373,000 after purchasing an additional 1,997 shares during the last quarter. 21.85% of the stock is currently owned by institutional investors and hedge funds.

Vale Price Performance

VALE stock traded up $0.05 during trading on Tuesday, reaching $9.99. 49,339,071 shares of the company were exchanged, compared to its average volume of 32,659,106. The company has a 50-day moving average of $9.54 and a two-hundred day moving average of $9.41. The company has a market capitalization of $45.34 billion, a price-to-earnings ratio of 7.24, a P/E/G 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 company has a debt-to-equity ratio of 0.49, a current ratio of 1.11 and a quick ratio of 0.74.

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. UBS Group reduced their target price on shares of Vale from $10.50 to $9.00 and set a "neutral" rating for the company in a report on Monday, April 28th. CICC Research initiated coverage on shares of Vale in a report on Monday, May 12th. They set an "outperform" rating and a $11.30 target price for the company. Barclays boosted their price objective on shares of Vale from $12.75 to $13.00 and gave the company an "overweight" rating in a report on Wednesday, July 2nd. Royal Bank Of Canada reissued a "sector perform" rating and issued a $11.00 price objective (down previously from $12.00) on shares of Vale in a report on Thursday, April 17th. Finally, Bank of America raised shares of Vale from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $11.00 to $11.50 in a report on Thursday, April 10th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $11.79.

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.