SPX Gestao de Recursos Ltda Grows Position in Vale S.A. $VALE

Key Points

• SPX Gestao de Recursos Ltda sharply increased its Vale stake in Q1, boosting holdings by 1,302.4% to 5.54 million shares. The position is now Vale’s 4th largest in the fund and represents about 7.3% of its portfolio.
• Other institutions also added to or initiated positions in Vale, and institutional ownership now stands at 21.85% of the company’s shares. This suggests continued interest from professional investors despite mixed market views.
• Analysts remain cautious overall: Vale has a Moderate Buy average rating with a $16.54 target, but the stock recently traded at $14.20 after a quarter in which earnings and revenue both missed estimates.

SPX Gestao de Recursos Ltda lifted its position in Vale S.A. (NYSE:VALE - Free Report) by 1,302.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,539,608 shares of the basic materials company's stock after buying an additional 5,144,590 shares during the quarter. Vale comprises approximately 7.3% of SPX Gestao de Recursos Ltda's holdings, making the stock its 4th largest position. SPX Gestao de Recursos Ltda owned 0.12% of Vale worth $88,135,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of VALE. NewEdge Advisors LLC boosted its position in shares of Vale by 4.9% in the first quarter. NewEdge Advisors LLC now owns 79,400 shares of the basic materials company's stock valued at $792,000 after acquiring an additional 3,704 shares during the period. Jones Financial Companies Lllp grew its position in Vale by 46.6% in the 1st quarter. Jones Financial Companies Lllp now owns 37,613 shares of the basic materials company's stock worth $375,000 after purchasing an additional 11,964 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Vale during the 1st quarter worth about $171,000. Strs Ohio bought a new position in shares of Vale during the 1st quarter worth about $117,000. Finally, Sivia Capital Partners LLC acquired a new position in shares of Vale during the second quarter valued at about $123,000. Institutional investors own 21.85% of the company's stock.

Wall Street Analysts Forecast Growth

VALE has been the topic of a number of recent research reports. Scotiabank set a $19.00 target price on Vale in a research report on Monday, June 15th. Wall Street Zen cut Vale from a "buy" rating to a "hold" rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $18.00 target price on shares of Vale in a research report on Friday, May 15th. UBS Group increased their price objective on shares of Vale from $12.00 to $16.00 and gave the company a "neutral" rating in a research note on Friday, March 27th. Finally, Royal Bank Of Canada reissued a "sector perform" rating on shares of Vale in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, Vale has an average rating of "Moderate Buy" and an average price target of $16.54.

Vale Price Performance

NYSE:VALE opened at $14.20 on Friday. The firm has a market cap of $64.47 billion, a PE ratio of 21.20 and a beta of 0.46. Vale S.A. has a 12 month low of $9.36 and a 12 month 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 company's 50-day moving average price is $15.56 and its two-hundred day moving average price is $15.74.

Vale (NYSE:VALE - Get Free Report) last announced its earnings results 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 during the quarter, compared to analyst estimates of $9.53 billion. Vale had a return on equity of 21.10% and a net margin of 7.21%. On average, equities analysts anticipate that Vale S.A. will post 1.98 EPS for the current fiscal year.

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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