Vale S.A. $VALE Shares Newly Purchased by ARGA Investment Management LP

Key Points

• ARGA Investment Management initiated a Vale position, buying 170,343 shares worth approximately $2.28 million in the third quarter. Institutional investors and hedge funds collectively own 21.85% of Vale.
• Analyst views are mixed, but the consensus rating is Hold, with an average price target of $14.96; three analysts rate the stock Buy, ten Hold, and one Sell.
• Vale reported quarterly EPS of $0.29, below the $0.38 consensus, while revenue of $10.60 billion exceeded estimates of $10.45 billion. Shares opened at $10.98, near the reported 52-week low of $10.96.

ARGA Investment Management LP acquired a new stake in shares of Vale S.A. (NYSE:VALE - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 170,343 shares of the basic materials company's stock, valued at approximately $2,284,000.

A number of other institutional investors also recently made changes to their positions in VALE. Arrowstreet Capital Limited Partnership lifted 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 purchasing an additional 6,351,703 shares during the last quarter. Lazard Asset Management LLC grew its stake in Vale by 5.4% in the first quarter. Lazard Asset Management LLC now owns 23,685,915 shares of the basic materials company's stock worth $376,843,000 after purchasing an additional 1,205,280 shares in the last quarter. Bank of America Corp DE increased its holdings in Vale by 119.9% in the first quarter. Bank of America Corp DE now owns 21,837,416 shares of the basic materials company's stock valued at $347,433,000 after buying an additional 11,905,247 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Vale by 27.3% in the first quarter. Renaissance Technologies LLC now owns 14,053,337 shares of the basic materials company's stock valued at $223,589,000 after buying an additional 3,012,700 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in Vale in the first quarter valued at about $128,239,000. 21.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on VALE. The Goldman Sachs Group cut Vale from a "buy" rating to a "neutral" rating and cut their price objective for the company from $18.00 to $16.00 in a research note on Monday, July 27th. UBS Group decreased their target price on Vale from $14.50 to $13.50 and set a "neutral" rating for the company in a research report on Monday. JPMorgan Chase & Co. lifted their target price on Vale from $21.00 to $22.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 30th. Zacks Research downgraded Vale from a "hold" rating to a "strong sell" rating in a report on Monday, October 19th. Finally, Bank of America lowered Vale from a "buy" rating to a "neutral" rating and dropped their price target for the company from $18.00 to $16.00 in a research report on Wednesday, August 5th. Three investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Vale currently has a consensus rating of "Hold" and an average target price of $14.96.

Vale Stock Performance

Shares of VALE stock opened at $10.98 on Wednesday. The company has a market cap of $49.82 billion, a P/E ratio of 7.93 and a beta of 0.50. The business has a 50 day moving average of $13.73 and a two-hundred day moving average of $15.21. Vale S.A. has a 52 week low of $10.96 and a 52 week high of $17.94. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.44.

Vale (NYSE:VALE - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The basic materials company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.09). The company had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.45 billion. Vale had a return on equity of 16.54% and a net margin of 1.64%. As a group, analysts anticipate that Vale S.A. will post 1.65 EPS for the current year.

Vale Profile

Vale SA is a Brazil-based global mining and logistics company best known for producing iron ore and iron ore pellets, key raw materials used in steelmaking. The company also produces nickel, copper, manganese ore, coal and other mineral products, with operations spanning exploration, extraction, processing and transportation.

Vale operates an extensive logistics network that includes railways, ports and maritime transportation systems, primarily supporting the movement of minerals from its production sites to domestic and international customers.

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