Allworth Financial LP Grows Stake in Vale S.A. (NYSE:VALE)

Allworth Financial LP lifted its stake in Vale S.A. (NYSE:VALE) by 233.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,440 shares of the basic materials company’s stock after purchasing an additional 3,810 shares during the quarter. Allworth Financial LP’s holdings in Vale were worth $53,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of VALE. Raymond James Financial Inc. bought a new position in Vale in the 4th quarter valued at approximately $11,122,000. Sequoia Financial Advisors LLC increased its holdings in Vale by 55.4% in the 4th quarter. Sequoia Financial Advisors LLC now owns 16,671 shares of the basic materials company’s stock worth $148,000 after buying an additional 5,943 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in Vale in the 4th quarter worth about $94,000. Corient Private Wealth LLC raised its position in Vale by 20.4% in the 4th quarter. Corient Private Wealth LLC now owns 138,247 shares of the basic materials company’s stock worth $1,230,000 after buying an additional 23,465 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in Vale by 94.6% during the 4th quarter. Signaturefd LLC now owns 39,051 shares of the basic materials company’s stock valued at $346,000 after acquiring an additional 18,985 shares during the period. Institutional investors own 21.85% of the company’s stock.

Vale Stock Down 0.2%

VALE stock opened at $9.79 on Friday. The business’s 50-day moving average price is $9.63 and its 200-day moving average price is $9.46. The stock has a market cap of $44.44 billion, a P/E ratio of 7.09, a PEG ratio of 0.32 and a beta of 0.77. The company has a quick ratio of 0.74, a current ratio of 1.11 and a debt-to-equity ratio of 0.49. Vale S.A. has a twelve month low of $8.06 and a twelve month high of $12.05.

Vale (NYSE:VALE) last released its earnings results on Thursday, April 24th. The basic materials company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The firm had revenue of $8.12 billion for the quarter, compared to the consensus estimate of $8.39 billion. Vale had a return on equity of 17.65% and a net margin of 15.54%. On average, equities research analysts forecast that Vale S.A. will post 1.85 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on VALE. Bank of America raised shares of Vale from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $11.00 to $11.50 in a report on Thursday, April 10th. Wall Street Zen began coverage on Vale in a report on Wednesday, May 7th. They set a “hold” rating on the stock. UBS Group dropped their price target on Vale from $10.50 to $9.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. CICC Research began coverage on Vale in a research report on Monday, May 12th. They set an “outperform” rating and a $11.30 price objective for the company. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $11.00 target price (down previously from $12.00) on shares of Vale in a report on Thursday, April 17th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $11.79.

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.