Royal Bank of Canada Acquires 401,614 Shares of Vale S.A. $VALE

Royal Bank of Canada grew its holdings in shares of Vale S.A. (NYSE:VALE) by 37.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,463,665 shares of the basic materials company’s stock after acquiring an additional 401,614 shares during the period. Royal Bank of Canada’s holdings in Vale were worth $14,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of VALE. J.Safra Asset Management Corp purchased a new position in shares of Vale during the 1st quarter valued at $41,000. Golden State Wealth Management LLC lifted its stake in shares of Vale by 193.0% during the 1st quarter. Golden State Wealth Management LLC now owns 4,119 shares of the basic materials company’s stock valued at $41,000 after buying an additional 2,713 shares in the last quarter. Capital Analysts LLC purchased a new position in shares of Vale during the 1st quarter valued at $51,000. Allworth Financial LP lifted its stake in Vale by 233.7% in the 1st quarter. Allworth Financial LP now owns 5,440 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 3,810 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new stake in Vale in the 1st quarter worth $64,000. Institutional investors own 21.85% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on VALE shares. JPMorgan Chase & Co. decreased their price target on shares of Vale from $15.00 to $13.50 and set an “overweight” rating on the stock in a research note on Thursday, September 4th. Scotiabank decreased their price target on shares of Vale from $13.00 to $12.50 and set a “sector perform” rating on the stock in a research note on Tuesday, July 22nd. Barclays boosted their price target on shares of Vale from $12.75 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 2nd. Clarkson Capital assumed coverage on shares of Vale in a report on Wednesday, September 3rd. They issued a “buy” rating and a $12.00 target price on the stock. Finally, UBS Group restated a “neutral” rating and issued a $10.00 target price (up from $9.00) on shares of Vale in a report on Monday, August 4th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Vale has an average rating of “Moderate Buy” and a consensus target price of $11.71.

Vale Price Performance

Shares of VALE opened at $10.51 on Thursday. The company has a 50 day moving average price of $10.05 and a 200-day moving average price of $9.70. Vale S.A. has a fifty-two week low of $8.06 and a fifty-two week high of $12.05. The stock has a market capitalization of $47.68 billion, a PE ratio of 8.54 and a beta of 0.79. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.85 and a current ratio of 1.22.

Vale (NYSE:VALE) last posted its earnings results on Thursday, July 31st. The basic materials company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.16. Vale had a net margin of 14.23% and a return on equity of 18.14%. The company had revenue of $8.80 billion during the quarter, compared to analysts’ expectations of $9.54 billion. Equities analysts predict that Vale S.A. will post 1.85 earnings per share for the current fiscal year.

Vale Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 13th were issued a $0.3417 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a dividend yield of 740.0%. Vale’s dividend payout ratio (DPR) is currently 59.35%.

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.