Point72 Asia Singapore Pte. Ltd. Makes New $28,000 Investment in Vale S.A. (NYSE:VALE)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Vale S.A. (NYSE:VALE) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 2,389 shares of the basic materials company’s stock, valued at approximately $28,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Ballentine Partners LLC lifted its holdings in Vale by 7.8% during the third quarter. Ballentine Partners LLC now owns 13,627 shares of the basic materials company’s stock worth $159,000 after acquiring an additional 987 shares in the last quarter. Legacy Capital Group California Inc. grew its position in shares of Vale by 6.9% in the 2nd quarter. Legacy Capital Group California Inc. now owns 17,932 shares of the basic materials company’s stock valued at $200,000 after purchasing an additional 1,154 shares during the period. Bank of New York Mellon Corp increased its stake in Vale by 1.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 62,076 shares of the basic materials company’s stock worth $693,000 after purchasing an additional 1,187 shares in the last quarter. IFG Advisory LLC raised its holdings in Vale by 6.1% during the 2nd quarter. IFG Advisory LLC now owns 22,702 shares of the basic materials company’s stock worth $254,000 after buying an additional 1,296 shares during the period. Finally, Pinnacle Associates Ltd. raised its holdings in Vale by 5.0% during the 3rd quarter. Pinnacle Associates Ltd. now owns 28,754 shares of the basic materials company’s stock worth $336,000 after buying an additional 1,375 shares during the period. 21.85% of the stock is owned by institutional investors.

Vale Stock Performance

Shares of NYSE VALE opened at $9.36 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.58 and a current ratio of 0.91. The stock has a 50 day moving average price of $10.53 and a 200 day moving average price of $10.81. The stock has a market capitalization of $41.96 billion, a PE ratio of 4.33, a price-to-earnings-growth ratio of 0.26 and a beta of 0.91. Vale S.A. has a 52 week low of $9.33 and a 52 week high of $16.08.

Vale (NYSE:VALE) last released its earnings results on Thursday, October 24th. The basic materials company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.15. Vale had a net margin of 22.59% and a return on equity of 21.07%. The business had revenue of $9.55 billion during the quarter, compared to analysts’ expectations of $9.61 billion. During the same period last year, the business earned $0.66 earnings per share. Analysts predict that Vale S.A. will post 2.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

VALE has been the subject of several research reports. Wolfe Research downgraded shares of Vale from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, October 9th. UBS Group cut Vale from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $14.00 to $11.50 in a report on Monday, November 11th. Barclays cut their price target on Vale from $16.00 to $15.25 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. StockNews.com started coverage on Vale in a report on Friday, October 18th. They set a “buy” rating for the company. Finally, Scotiabank cut their target price 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 equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Vale presently has an average rating of “Hold” and a consensus target price of $14.91.

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.