Vale S.A. $VALE Shares Sold by Himension Capital Singapore PTE. LTD.

Key Points

• Himension Capital Singapore PTE. LTD. trimmed its Vale stake by 12.4% in the first quarter, selling 113,409 shares and leaving it with 804,708 shares worth about $12.8 million.
• Vale missed quarterly expectations, reporting EPS of $0.44 versus the $0.52 consensus and revenue of $9.26 billion versus the expected $9.53 billion.
• Analyst sentiment is mixed: the stock’s consensus rating is “Moderate Buy,” but several firms recently lowered price targets or downgraded the shares, with a consensus target price of $16.31.

Himension Capital Singapore PTE. LTD. lessened its stake in Vale S.A. (NYSE:VALE - Free Report) by 12.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 804,708 shares of the basic materials company's stock after selling 113,409 shares during the period. Vale comprises approximately 1.0% of Himension Capital Singapore PTE. LTD.'s investment portfolio, making the stock its 19th largest holding. Himension Capital Singapore PTE. LTD.'s holdings in Vale were worth $12,803,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Capital World Investors boosted its holdings in Vale by 58.2% during the fourth quarter. Capital World Investors now owns 89,322,261 shares of the basic materials company's stock worth $1,163,896,000 after buying an additional 32,864,929 shares in the last quarter. GQG Partners LLC increased its holdings in Vale by 42.4% in the fourth quarter. GQG Partners LLC now owns 65,132,572 shares of the basic materials company's stock valued at $848,677,000 after buying an additional 19,397,396 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Vale by 2,239.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 41,596,000 shares of the basic materials company's stock valued at $541,996,000 after buying an additional 39,818,066 shares in the last quarter. Invesco Ltd. raised its position in shares of Vale by 16.7% in the third quarter. Invesco Ltd. now owns 28,961,848 shares of the basic materials company's stock worth $314,526,000 after acquiring an additional 4,151,563 shares during the period. Finally, Lazard Asset Management LLC raised its position in shares of Vale by 0.9% in the fourth quarter. Lazard Asset Management LLC now owns 22,480,635 shares of the basic materials company's stock worth $292,923,000 after acquiring an additional 208,128 shares during the period. Institutional investors and hedge funds own 21.85% of the company's stock.

Vale Stock Up 1.0%

Shares of NYSE VALE opened at $14.24 on Wednesday. The company's 50-day simple moving average is $15.44 and its 200-day simple moving average is $15.78. Vale S.A. has a 52-week low of $9.36 and a 52-week high of $17.94. The firm has a market cap of $64.66 billion, a price-to-earnings ratio of 21.26 and a beta of 0.46. The company has a quick ratio of 0.79, a current ratio of 1.24 and a debt-to-equity ratio of 0.48.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on VALE shares. Wall Street Zen cut Vale from a "buy" rating to a "hold" rating in a research report on Saturday. Scotiabank reduced their price target on Vale from $19.00 to $16.00 and set a "sector perform" rating for the company in a report on Monday. UBS Group increased their price target on Vale from $12.00 to $16.00 and gave the stock a "neutral" rating in a research report on Friday, March 27th. Wells Fargo & Company dropped their price objective on Vale from $16.00 to $15.00 and set an "equal weight" rating on the stock in a report on Thursday, July 9th. Finally, Morgan Stanley restated an "equal weight" rating and issued a $16.50 price objective (down from $19.50) on shares of Vale in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $16.31.

Vale Company 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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