Vale S.A. $VALE Shares Acquired by Renaissance Technologies LLC

Key Points

• Renaissance Technologies LLC increased its Vale stake by 27.3% in the first quarter, buying 3,012,700 additional shares and bringing its total holding to 14,053,337 shares worth about $223.6 million.
• Vale reported first-quarter earnings of $0.44 per share, missing analyst expectations of $0.52, while revenue came in at $9.26 billion versus the $9.53 billion consensus.
• Wall Street’s view on Vale is mixed, with a Moderate Buy consensus and an average price target of $16.31; recent analyst actions included hold/equal-weight ratings and a few modest target adjustments.

Renaissance Technologies LLC increased its position in shares of Vale S.A. (NYSE:VALE - Free Report) by 27.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,053,337 shares of the basic materials company's stock after buying an additional 3,012,700 shares during the period. Renaissance Technologies LLC owned about 0.31% of Vale worth $223,589,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Compound Planning Inc. boosted its position in Vale by 9.6% in the 1st quarter. Compound Planning Inc. now owns 105,911 shares of the basic materials company's stock valued at $1,685,000 after buying an additional 9,259 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Vale by 15.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 47,947,703 shares of the basic materials company's stock worth $762,848,000 after acquiring an additional 6,351,703 shares during the last quarter. Bank of Nova Scotia lifted its stake in shares of Vale by 91.1% in the first quarter. Bank of Nova Scotia now owns 107,067 shares of the basic materials company's stock worth $1,704,000 after acquiring an additional 51,034 shares in the last quarter. State of Wyoming lifted its stake in shares of Vale by 78.6% in the first quarter. State of Wyoming now owns 28,798 shares of the basic materials company's stock worth $458,000 after acquiring an additional 12,678 shares in the last quarter. Finally, NewEdge Wealth LLC boosted its holdings in Vale by 2.8% in the first quarter. NewEdge Wealth LLC now owns 25,799 shares of the basic materials company's stock valued at $410,000 after purchasing an additional 708 shares during the last quarter. Institutional investors and hedge funds own 21.85% of the company's stock.

Vale Stock Performance

Shares of VALE opened at $14.79 on Friday. The stock has a market capitalization of $67.15 billion, a PE ratio of 22.08 and a beta of 0.46. The business's fifty day moving average price is $15.34 and its 200 day moving average price is $15.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.24 and a quick ratio of 0.79. Vale S.A. has a 12-month low of $9.36 and a 12-month high of $17.94.

Vale (NYSE:VALE - Get Free Report) last released its earnings results on Tuesday, April 28th. The basic materials company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.08). The business had revenue of $9.26 billion for the quarter, compared to the consensus estimate of $9.53 billion. Vale had a net margin of 7.21% and a return on equity of 21.10%. Equities research analysts forecast that Vale S.A. will post 1.98 EPS for the current year.

Wall Street Analyst Weigh In

VALE has been the subject of a number of recent analyst reports. Royal Bank Of Canada restated a "sector perform" rating on shares of Vale in a research note on Monday, June 15th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $18.00 price target on shares of Vale in a research note on Friday, May 15th. Wells Fargo & Company cut their price target on shares of Vale from $16.00 to $15.00 and set an "equal weight" rating on the stock in a report on Thursday, July 9th. Weiss Ratings reiterated a "hold (c)" rating on shares of Vale in a research note on Wednesday, July 8th. Finally, UBS Group boosted their target price on shares of Vale from $12.00 to $16.00 and gave the stock a "neutral" rating in a research report on Friday, March 27th. One 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 data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $16.31.

About Vale

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.

Want to see what other hedge funds are holding VALE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vale S.A. (NYSE:VALE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.