Mackenzie Financial Corp Purchases 303,254 Shares of Vale S.A. (NYSE:VALE)

Mackenzie Financial Corp grew its position in shares of Vale S.A. (NYSE:VALE - Free Report) by 13.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,478,437 shares of the basic materials company's stock after buying an additional 303,254 shares during the period. Mackenzie Financial Corp owned approximately 0.06% of Vale worth $39,308,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Vale by 18.7% during the 1st quarter. BlackRock Inc. now owns 72,165,728 shares of the basic materials company's stock worth $1,138,775,000 after buying an additional 11,393,498 shares during the period. Bank of America Corp DE increased its position in shares of Vale by 57.8% in the first quarter. Bank of America Corp DE now owns 22,763,893 shares of the basic materials company's stock worth $359,214,000 after purchasing an additional 8,334,786 shares during the period. Invesco Ltd. increased its position in shares of Vale by 21.1% in the third quarter. Invesco Ltd. now owns 17,752,878 shares of the basic materials company's stock worth $237,889,000 after purchasing an additional 3,092,376 shares during the period. State Street Corp increased its position in shares of Vale by 3.4% in the first quarter. State Street Corp now owns 13,799,196 shares of the basic materials company's stock worth $217,752,000 after purchasing an additional 452,290 shares during the period. Finally, Lazard Asset Management LLC increased its position in shares of Vale by 52.3% in the second quarter. Lazard Asset Management LLC now owns 13,783,862 shares of the basic materials company's stock worth $184,978,000 after purchasing an additional 4,733,169 shares during the period. Institutional investors own 21.85% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on VALE shares. Barclays raised their price target on Vale from $16.00 to $17.00 and gave the stock an "overweight" rating in a research report on Tuesday. Royal Bank of Canada restated an "outperform" rating and issued a $19.00 price target on shares of Vale in a research report on Monday, February 12th. Bank of America restated a "neutral" rating and issued a $13.00 price target (down previously from $20.00) on shares of Vale in a research report on Tuesday, April 9th. JPMorgan Chase & Co. decreased their price target on Vale from $20.50 to $20.00 and set an "overweight" rating on the stock in a research report on Friday, April 12th. Finally, StockNews.com began coverage on Vale in a research note on Saturday, March 30th. They set a "buy" rating for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $16.67.

Vale Trading Up 1.5 %

Shares of NYSE:VALE traded up $0.18 during midday trading on Wednesday, hitting $11.85. 34,807,328 shares of the stock were exchanged, compared to its average volume of 26,645,977. The stock has a market capitalization of $53.10 billion, a price-to-earnings ratio of 6.47, a P/E/G ratio of 3.38 and a beta of 0.97. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.96 and a current ratio of 1.28. The business's 50-day moving average price is $12.70 and its 200 day moving average price is $13.78. Vale S.A. has a 12 month low of $11.52 and a 12 month high of $16.08.

Vale (NYSE:VALE - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.48). The firm had revenue of $13.05 billion for the quarter, compared to the consensus estimate of $12.95 billion. Vale had a return on equity of 20.00% and a net margin of 19.10%. During the same quarter last year, the firm posted $0.82 earnings per share. Analysts predict that Vale S.A. will post 2.31 earnings per share for the current year.

Vale Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were issued a dividend of $0.3182 per share. This represents a dividend yield of 9.7%. The ex-dividend date was Tuesday, March 12th. Vale's dividend payout ratio (DPR) is currently 64.48%.

Vale Company Profile

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.