BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its stake in Vale S.A. (NYSE:VALE – Free Report) by 5.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 410,524 shares of the basic materials company’s stock after selling 23,436 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Vale were worth $4,795,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. SPX Gestao de Recursos Ltda raised its stake in shares of Vale by 60.6% in the second quarter. SPX Gestao de Recursos Ltda now owns 21,969,937 shares of the basic materials company’s stock worth $245,404,000 after purchasing an additional 8,288,112 shares during the last quarter. Marshall Wace LLP raised its position in Vale by 395.3% in the 2nd quarter. Marshall Wace LLP now owns 7,152,069 shares of the basic materials company’s stock worth $79,889,000 after buying an additional 5,707,969 shares during the last quarter. Van ECK Associates Corp lifted its stake in Vale by 110.9% during the 2nd quarter. Van ECK Associates Corp now owns 5,459,485 shares of the basic materials company’s stock valued at $60,983,000 after acquiring an additional 2,871,094 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Vale by 27.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 11,853,914 shares of the basic materials company’s stock worth $132,408,000 after acquiring an additional 2,578,900 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Vale in the third quarter worth approximately $30,038,000. 21.85% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on VALE shares. JPMorgan Chase & Co. lowered their price objective on shares of Vale from $16.50 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, September 23rd. UBS Group downgraded Vale from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $14.00 to $11.50 in a research note on Monday, November 11th. StockNews.com started coverage on shares of Vale in a report on Friday, October 18th. They issued a “buy” rating on the stock. Wolfe Research cut shares of Vale from a “peer perform” rating to an “underperform” rating in a report on Wednesday, October 9th. Finally, Scotiabank decreased their price objective on Vale from $16.00 to $14.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Vale currently has an average rating of “Hold” and a consensus price target of $15.13.
Vale Stock Performance
Shares of VALE stock opened at $10.02 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.91 and a debt-to-equity ratio of 0.39. The stock has a market cap of $44.92 billion, a PE ratio of 4.64, a price-to-earnings-growth ratio of 0.27 and a beta of 0.94. The business has a 50-day simple moving average of $10.76 and a 200-day simple moving average of $11.02. Vale S.A. has a 52-week low of $9.66 and a 52-week high of $16.08.
Vale (NYSE:VALE – Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.41 by $0.15. The company had revenue of $9.55 billion during the quarter, compared to analyst estimates of $9.61 billion. Vale had a net margin of 22.59% and a return on equity of 21.07%. During the same quarter in the previous year, the firm earned $0.66 EPS. On average, equities analysts expect that Vale S.A. will post 2.12 EPS for the current 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.
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