Fmr LLC Grows Stake in Vale S.A. (NYSE:VALE)

Fmr LLC boosted its stake in Vale S.A. (NYSE:VALE) by 18.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 36,605,338 shares of the basic materials company’s stock after buying an additional 5,635,167 shares during the quarter. Fmr LLC’s holdings in Vale were worth $427,550,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Pacifica Partners Inc. purchased a new position in shares of Vale in the second quarter valued at approximately $27,000. Lowe Wealth Advisors LLC purchased a new position in Vale in the 2nd quarter valued at $45,000. Keynote Financial Services LLC acquired a new stake in Vale during the 1st quarter worth $126,000. Phillips Wealth Planners LLC purchased a new stake in shares of Vale during the third quarter worth $118,000. Finally, Vawter Financial Ltd. acquired a new stake in shares of Vale in the second quarter valued at about $124,000. 21.85% of the stock is currently owned by institutional investors and hedge funds.

Vale Stock Performance

Shares of Vale stock opened at $9.87 on Friday. The firm has a market cap of $44.23 billion, a PE ratio of 4.57, a price-to-earnings-growth ratio of 0.27 and a beta of 0.94. The company has a quick ratio of 0.58, a current ratio of 0.91 and a debt-to-equity ratio of 0.39. Vale S.A. has a 52 week low of $9.64 and a 52 week high of $16.08. The business’s fifty day simple moving average is $10.69 and its 200-day simple moving average is $10.95.

Vale (NYSE:VALE) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.56 earnings per share (EPS) 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 firm had revenue of $9.55 billion for the quarter, compared to analyst estimates of $9.61 billion. During the same period in the previous year, the firm earned $0.66 EPS. Equities analysts forecast that Vale S.A. will post 2.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Scotiabank lowered their price target on shares of Vale from $16.00 to $14.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 20th. StockNews.com assumed coverage on Vale in a report on Friday, October 18th. They set a “buy” rating on the stock. Morgan Stanley cut their price target on Vale from $16.00 to $15.50 and set an “overweight” rating for the company in a report on Thursday, September 19th. UBS Group lowered Vale from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $14.00 to $11.50 in a research note on Monday, November 11th. Finally, Wolfe Research lowered Vale from a “peer perform” rating to an “underperform” rating in a report on Wednesday, October 9th. One 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, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.13.

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.