Vale S.A. $VALE Shares Purchased by Davis Selected Advisers

Davis Selected Advisers boosted its holdings in shares of Vale S.A. (NYSE:VALE) by 7.9% in the second quarter, HoldingsChannel reports. The firm owned 2,948,514 shares of the basic materials company’s stock after buying an additional 215,001 shares during the period. Davis Selected Advisers’ holdings in Vale were worth $28,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in VALE. GQG Partners LLC acquired a new stake in Vale during the 1st quarter worth about $371,778,000. Orbis Allan Gray Ltd boosted its stake in shares of Vale by 165.9% in the first quarter. Orbis Allan Gray Ltd now owns 31,257,989 shares of the basic materials company’s stock worth $311,955,000 after buying an additional 19,500,437 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Vale by 24.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 12,050,646 shares of the basic materials company’s stock worth $117,012,000 after acquiring an additional 2,393,157 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in Vale by 15.6% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,523,471 shares of the basic materials company’s stock valued at $115,004,000 after acquiring an additional 1,557,799 shares in the last quarter. Finally, Northern Trust Corp raised its position in Vale by 15.2% during the first quarter. Northern Trust Corp now owns 4,628,829 shares of the basic materials company’s stock valued at $46,196,000 after acquiring an additional 610,457 shares in the last quarter. 21.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VALE has been the topic of a number of analyst reports. Weiss Ratings raised shares of Vale from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, November 7th. Zacks Research upgraded shares of Vale from a “hold” rating to a “strong-buy” rating in a research report on Monday. Morgan Stanley set a $11.50 price objective on shares of Vale in a report on Wednesday, October 8th. Scotiabank upgraded shares of Vale from a “sector perform” rating to a “sector outperform” rating and set a $14.00 price objective for the company in a research report on Thursday, September 18th. Finally, Clarkson Capital started coverage on Vale in a research report on Wednesday, September 3rd. They set a “buy” rating and a $12.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.61.

Vale Stock Performance

VALE opened at $12.39 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.22 and a debt-to-equity ratio of 0.48. The company has a market cap of $56.24 billion, a price-to-earnings ratio of 10.07 and a beta of 0.82. Vale S.A. has a 52-week low of $8.06 and a 52-week high of $12.60. The firm’s fifty day simple moving average is $11.26 and its two-hundred day simple moving average is $10.28.

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

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.