Vale S.A. (NYSE:VALE) Shares Sold by Jennison Associates LLC

Jennison Associates LLC trimmed its holdings in shares of Vale S.A. (NYSE:VALE) by 1.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 389,388 shares of the basic materials company’s stock after selling 4,955 shares during the period. Jennison Associates LLC’s holdings in Vale were worth $3,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group lifted its holdings in Vale by 215.9% during the 4th quarter. Brooklyn Investment Group now owns 2,780 shares of the basic materials company’s stock worth $25,000 after buying an additional 1,900 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Vale in the 3rd quarter valued at about $28,000. Point72 Hong Kong Ltd purchased a new stake in shares of Vale in the 3rd quarter valued at about $36,000. R Squared Ltd purchased a new stake in shares of Vale in the 4th quarter valued at about $41,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Vale in the 3rd quarter valued at about $79,000. 21.85% of the stock is owned by hedge funds and other institutional investors.

Vale Stock Performance

NYSE VALE opened at $9.63 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.58 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average is $9.09 and its two-hundred day moving average is $10.06. Vale S.A. has a 12-month low of $8.38 and a 12-month high of $13.77. The stock has a market capitalization of $43.69 billion, a price-to-earnings ratio of 4.46, a PEG ratio of 0.29 and a beta of 0.91.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on VALE shares. Scotiabank reduced their target price on Vale from $14.00 to $13.00 and set a “sector perform” rating for the company in a report on Monday, January 6th. StockNews.com started coverage on Vale in a report on Friday, December 13th. They issued a “buy” rating for the company. Jefferies Financial Group reduced their target price on Vale from $14.00 to $11.00 and set a “buy” rating for the company in a report on Monday, January 6th. UBS Group downgraded Vale from a “buy” rating to a “neutral” rating and reduced their target price for the company from $14.00 to $11.50 in a report on Monday, November 11th. Finally, Barclays dropped their price target on Vale from $16.00 to $15.25 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating and five have assigned 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 $13.89.

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.