Mackenzie Financial Corp Acquires 47,457 Shares of Vale S.A. $VALE

Mackenzie Financial Corp raised its holdings in Vale S.A. (NYSE:VALE) by 6.4% during the second quarter, Holdings Channel.com reports. The fund owned 793,055 shares of the basic materials company’s stock after purchasing an additional 47,457 shares during the period. Mackenzie Financial Corp’s holdings in Vale were worth $7,701,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of VALE. Quadrature Capital Ltd acquired a new position in shares of Vale in the 2nd quarter valued at $3,311,000. Level Four Advisory Services LLC increased its holdings in Vale by 8.2% in the second quarter. Level Four Advisory Services LLC now owns 149,935 shares of the basic materials company’s stock valued at $1,456,000 after purchasing an additional 11,335 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Vale by 15.0% in the second quarter. Hsbc Holdings PLC now owns 1,836,221 shares of the basic materials company’s stock valued at $17,826,000 after buying an additional 239,748 shares during the period. Choreo LLC lifted its stake in Vale by 24.5% in the second quarter. Choreo LLC now owns 17,029 shares of the basic materials company’s stock valued at $165,000 after buying an additional 3,354 shares during the period. Finally, Boston Partners boosted its holdings in Vale by 1.0% during the second quarter. Boston Partners now owns 159,991 shares of the basic materials company’s stock worth $1,554,000 after buying an additional 1,543 shares during the last quarter. Institutional investors and hedge funds own 21.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Hsbc Global Res raised Vale to a “strong-buy” rating in a research note on Friday, October 17th. Morgan Stanley set a $11.50 target price on shares of Vale in a research note on Wednesday, October 8th. Zacks Research raised shares of Vale from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 10th. JPMorgan Chase & Co. upped their price objective on shares of Vale from $13.50 to $14.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Vale in a research note on Tuesday, November 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Vale presently has a consensus rating of “Moderate Buy” and an average price target of $12.61.

Vale Stock Up 1.5%

Vale stock opened at $12.89 on Wednesday. The company has a 50 day moving average of $11.69 and a 200-day moving average of $10.55. The company has a quick ratio of 0.85, a current ratio of 1.22 and a debt-to-equity ratio of 0.48. Vale S.A. has a twelve month low of $8.06 and a twelve month high of $12.90. The stock has a market capitalization of $58.49 billion, a PE ratio of 10.48 and a beta of 0.82.

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

Vale Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Friday, December 12th will be given a dividend of $0.2331 per share. The ex-dividend date of this dividend is Friday, December 12th. Vale’s dividend payout ratio is currently 56.15%.

Vale 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.