IFG Advisory LLC Has $314,000 Position in Vale S.A. $VALE

IFG Advisory LLC increased its holdings in shares of Vale S.A. (NYSE:VALE) by 30.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,297 shares of the basic materials company’s stock after buying an additional 7,559 shares during the quarter. IFG Advisory LLC’s holdings in Vale were worth $314,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC increased its holdings in Vale by 38.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 22,522 shares of the basic materials company’s stock valued at $225,000 after purchasing an additional 6,261 shares during the period. Vontobel Holding Ltd. acquired a new stake in shares of Vale during the 1st quarter worth approximately $610,000. Principal Financial Group Inc. increased its stake in Vale by 34.3% in the first quarter. Principal Financial Group Inc. now owns 199,736 shares of the basic materials company’s stock valued at $1,993,000 after purchasing an additional 50,963 shares in the last quarter. Wayfinding Financial LLC acquired a new position in Vale during the 1st quarter worth approximately $64,000. Finally, Envestnet Asset Management Inc. raised its position in shares of Vale by 21.3% during the first quarter. Envestnet Asset Management Inc. now owns 902,300 shares of the basic materials company’s stock worth $9,005,000 after purchasing an additional 158,194 shares during the period. Institutional investors and hedge funds own 21.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on VALE. Wells Fargo & Company raised shares of Vale to a “hold” rating in a report on Wednesday, October 8th. UBS Group raised their target price on Vale from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Hsbc Global Res raised shares of Vale to a “strong-buy” rating in a research report on Friday, October 17th. Jefferies Financial Group set a $15.00 price target on Vale and gave the stock a “buy” rating in a report on Monday. Finally, Barclays boosted their price objective on Vale from $13.70 to $13.80 and gave the company an “overweight” rating in a research note on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $12.47.

Vale Trading Up 1.0%

Vale stock opened at $12.21 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.85 and a current ratio of 1.22. Vale S.A. has a fifty-two week low of $8.06 and a fifty-two week high of $12.24. The stock has a market cap of $55.40 billion, a P/E ratio of 9.92 and a beta of 0.80. The firm’s fifty day moving average price is $10.94 and its 200-day moving average price is $10.13.

Vale (NYSE:VALE) last posted its earnings results on Thursday, October 30th. The basic materials company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.49 by $0.14. Vale had a return on equity of 18.14% and a net margin of 14.23%.The business had revenue of $10.42 billion during the quarter, compared to analysts’ expectations of $10.39 billion. Equities research analysts forecast that Vale S.A. will post 1.85 earnings per share for the current fiscal year.

About Vale

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.