Y Intercept Hong Kong Ltd bought a new position in Vale S.A. (NYSE:VALE - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 332,323 shares of the basic materials company's stock, valued at approximately $3,317,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Choreo LLC raised its position in Vale by 28.2% in the first quarter. Choreo LLC now owns 13,675 shares of the basic materials company's stock worth $136,000 after acquiring an additional 3,012 shares during the period. Flynn Zito Capital Management LLC purchased a new position in Vale during the first quarter valued at $125,000. Wealth Alliance LLC purchased a new position in Vale during the first quarter valued at $108,000. Kestra Private Wealth Services LLC grew its stake in Vale by 137.7% during the first quarter. Kestra Private Wealth Services LLC now owns 39,902 shares of the basic materials company's stock valued at $398,000 after acquiring an additional 23,113 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Vale in the 1st quarter worth $184,000. Institutional investors own 21.85% of the company's stock.
Wall Street Analysts Forecast Growth
VALE has been the subject of a number of recent research reports. Barclays lifted their price objective on shares of Vale from $12.75 to $13.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 2nd. Wall Street Zen initiated coverage on shares of Vale in a research report on Wednesday, May 7th. They issued a "hold" rating for the company. Bank of America raised shares of Vale from a "neutral" rating to a "buy" rating and increased their target price for the company from $11.00 to $11.50 in a research report on Thursday, April 10th. Royal Bank Of Canada reissued a "sector perform" rating and set a $11.00 target price (down previously from $12.00) on shares of Vale in a research report on Thursday, April 17th. Finally, CICC Research initiated coverage on shares of Vale in a research note on Monday, May 12th. They set an "outperform" rating and a $11.30 price target on the stock. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $11.73.
Check Out Our Latest Stock Report on Vale
Vale Trading Down 1.7%
VALE stock traded down $0.18 during trading on Thursday, reaching $10.23. 53,876,406 shares of the stock were exchanged, compared to its average volume of 37,301,129. Vale S.A. has a 1 year low of $8.06 and a 1 year high of $12.05. The firm has a market capitalization of $46.41 billion, a price-to-earnings ratio of 7.41, a P/E/G ratio of 0.34 and a beta of 0.77. The business has a 50 day moving average price of $9.67 and a 200-day moving average price of $9.49. The company has a current ratio of 1.11, a quick ratio of 0.74 and a debt-to-equity ratio of 0.49.
Vale (NYSE:VALE - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The basic materials company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.02). The company had revenue of $8.12 billion for the quarter, compared to analysts' expectations of $8.39 billion. Vale had a return on equity of 17.65% and a net margin of 15.54%. On average, research analysts predict that Vale S.A. will post 1.85 earnings per share for the current year.
About Vale
(
Free Report)
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.
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