Nikko Asset Management Americas Inc. Buys 2,915 Shares of Vale S.A. (NYSE:VALE)

Nikko Asset Management Americas Inc. increased its position in Vale S.A. (NYSE:VALE) by 1.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 196,097 shares of the basic materials company’s stock after purchasing an additional 2,915 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Vale were worth $1,955,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Atlas Capital Advisors Inc. lifted its position in shares of Vale by 68.3% during the fourth quarter. Atlas Capital Advisors Inc. now owns 4,000 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 1,623 shares in the last quarter. J.Safra Asset Management Corp purchased a new stake in Vale in the 1st quarter valued at about $41,000. Golden State Wealth Management LLC lifted its position in shares of Vale by 193.0% during the 1st quarter. Golden State Wealth Management LLC now owns 4,119 shares of the basic materials company’s stock worth $41,000 after buying an additional 2,713 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Vale by 233.7% in the 1st quarter. Allworth Financial LP now owns 5,440 shares of the basic materials company’s stock worth $53,000 after buying an additional 3,810 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new position in shares of Vale in the first quarter valued at approximately $64,000. 21.85% of the stock is owned by institutional investors.

Vale Stock Down 2.3%

VALE stock opened at $10.00 on Friday. The business has a 50 day moving average of $9.68 and a 200 day moving average of $9.52. The firm has a market cap of $45.37 billion, a PE ratio of 7.24, a price-to-earnings-growth ratio of 0.34 and a beta of 0.77. Vale S.A. has a twelve month low of $8.06 and a twelve month high of $12.05. The company has a quick ratio of 0.74, a current ratio of 1.11 and a debt-to-equity ratio of 0.49.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on VALE shares. UBS Group lowered their target price on Vale from $10.50 to $9.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. Bank of America raised shares of Vale from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $11.00 to $11.50 in a research report on Thursday, April 10th. CICC Research began coverage on shares of Vale in a research report on Monday, May 12th. They set an “outperform” rating and a $11.30 target price for the company. Wall Street Zen began coverage on shares of Vale in a report on Wednesday, May 7th. They issued a “hold” rating on the stock. Finally, Barclays upped their price objective on Vale from $12.75 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, July 2nd. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Vale has a consensus rating of “Hold” and an average price target of $11.73.

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.