Vale S.A. (NYSE:VALE) Stake Boosted by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Vale S.A. (NYSE:VALE) by 12.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 177,949 shares of the basic materials company’s stock after purchasing an additional 20,215 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Vale were worth $1,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Ping Capital Management Inc. lifted its stake in Vale by 76.2% during the fourth quarter. Ping Capital Management Inc. now owns 74,000 shares of the basic materials company’s stock worth $656,000 after purchasing an additional 32,000 shares during the last quarter. Ninety One North America Inc. lifted its stake in Vale by 0.7% during the fourth quarter. Ninety One North America Inc. now owns 2,820,592 shares of the basic materials company’s stock worth $25,019,000 after purchasing an additional 20,692 shares during the last quarter. Caprock Group LLC bought a new position in Vale during the fourth quarter worth $1,336,000. Robeco Institutional Asset Management B.V. lifted its stake in Vale by 106.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 9,721,066 shares of the basic materials company’s stock worth $86,226,000 after purchasing an additional 5,001,228 shares during the last quarter. Finally, R Squared Ltd bought a new stake in Vale in the fourth quarter valued at $41,000. 21.85% of the stock is currently owned by institutional investors.

Vale Price Performance

Shares of VALE opened at $9.57 on Tuesday. The firm has a market capitalization of $43.42 billion, a price-to-earnings ratio of 4.43, a price-to-earnings-growth ratio of 0.30 and a beta of 0.91. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.58 and a current ratio of 0.91. Vale S.A. has a one year low of $8.38 and a one year high of $13.77. The stock’s fifty day moving average is $9.08 and its 200-day moving average is $10.04.

Analyst Ratings Changes

A number of equities research analysts have issued reports on VALE shares. Scotiabank cut their target price on Vale from $14.00 to $13.00 and set a “sector perform” rating on the stock in a research note on Monday, January 6th. StockNews.com started coverage on Vale in a research note on Friday, December 13th. They issued a “buy” rating on the stock. Jefferies Financial Group cut their target price on Vale from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. UBS Group cut Vale from a “buy” rating to a “neutral” rating and cut their target price for the company from $14.00 to $11.50 in a research note on Monday, November 11th. Finally, Morgan Stanley cut Vale from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $14.50 to $11.30 in a research note on Thursday, December 12th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Vale currently has an average rating of “Hold” and a consensus price target of $13.89.

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.