Ninety One UK Ltd Has $62.92 Million Stock Position in Vale S.A. (NYSE:VALE)

Ninety One UK Ltd trimmed its position in Vale S.A. (NYSE:VALE) by 1.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,304,537 shares of the basic materials company’s stock after selling 105,660 shares during the quarter. Ninety One UK Ltd owned approximately 0.14% of Vale worth $62,919,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Atlas Capital Advisors Inc. lifted its stake in Vale by 68.3% in the fourth quarter. Atlas Capital Advisors Inc. now owns 4,000 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 1,623 shares during the last quarter. J.Safra Asset Management Corp bought a new stake in Vale in the 1st quarter valued at $41,000. Golden State Wealth Management LLC increased its holdings in Vale by 193.0% in the 1st quarter. Golden State Wealth Management LLC now owns 4,119 shares of the basic materials company’s stock valued at $41,000 after buying an additional 2,713 shares during the period. Wayfinding Financial LLC bought a new stake in Vale in the 1st quarter valued at $64,000. Finally, Mountain Hill Investment Partners Corp. bought a new stake in Vale in the 4th quarter valued at $80,000. 21.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on VALE. Wall Street Zen began coverage on shares of Vale in a report on Wednesday, May 7th. They issued a “hold” rating on the stock. Bank of America raised shares of Vale from a “neutral” rating to a “buy” rating and boosted their price target for the company from $11.00 to $11.50 in a report on Thursday, April 10th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $11.00 price target (down previously from $12.00) on shares of Vale in a report on Thursday, April 17th. Barclays boosted their price target on shares of Vale from $12.75 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, July 2nd. Finally, CICC Research began coverage on shares of Vale in a report on Monday, May 12th. They issued an “outperform” rating and a $11.30 target price on the stock. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Vale currently has an average rating of “Hold” and an average target price of $11.79.

Vale Stock Down 2.6%

VALE opened at $9.95 on Tuesday. Vale S.A. has a fifty-two week low of $8.06 and a fifty-two week high of $12.05. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.74 and a current ratio of 1.11. The company has a market capitalization of $45.16 billion, a P/E ratio of 7.21, a P/E/G ratio of 0.33 and a beta of 0.77. The stock has a fifty day moving average of $9.54 and a 200-day moving average of $9.41.

Vale (NYSE:VALE) last posted its earnings results on Thursday, April 24th. The basic materials company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The firm had revenue of $8.12 billion for the quarter, compared to analyst estimates of $8.39 billion. Vale had a return on equity of 17.65% and a net margin of 15.54%. On average, equities analysts expect that Vale S.A. will post 1.85 EPS for the current year.

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.