Vale S.A. $VALE Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. cut its stake in Vale S.A. (NYSE:VALE) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 263,857 shares of the basic materials company’s stock after selling 7,320 shares during the period. Advisors Asset Management Inc.’s holdings in Vale were worth $2,562,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VALE. GQG Partners LLC bought a new position in Vale during the 1st quarter valued at $371,778,000. Orbis Allan Gray Ltd boosted its stake in Vale by 165.9% during the first quarter. Orbis Allan Gray Ltd now owns 31,257,989 shares of the basic materials company’s stock valued at $311,955,000 after buying an additional 19,500,437 shares in the last quarter. Itau Unibanco Holding S.A. grew its holdings in Vale by 121.7% during the second quarter. Itau Unibanco Holding S.A. now owns 7,069,889 shares of the basic materials company’s stock worth $68,649,000 after acquiring an additional 3,881,062 shares during the period. Driehaus Capital Management LLC bought a new stake in Vale in the first quarter worth about $36,118,000. Finally, Nuveen LLC acquired a new stake in Vale in the 1st quarter valued at about $34,751,000. Institutional investors own 21.85% of the company’s stock.

Vale Stock Up 1.2%

NYSE:VALE opened at $12.67 on Friday. The business’s fifty day moving average price is $11.61 and its 200 day moving average price is $10.49. The firm has a market capitalization of $57.49 billion, a price-to-earnings ratio of 10.30 and a beta of 0.82. The company has a current ratio of 1.22, a quick ratio of 0.85 and a debt-to-equity ratio of 0.48. Vale S.A. has a 1-year low of $8.06 and a 1-year high of $12.72.

Vale (NYSE:VALE) last released its earnings results on Thursday, October 30th. The basic materials company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.14. The company had revenue of $10.42 billion for the quarter, compared to analysts’ expectations of $10.39 billion. Vale had a return on equity of 18.14% and a net margin of 14.23%. On average, sell-side analysts forecast that Vale S.A. will post 1.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

VALE has been the topic of a number of research reports. Zacks Research upgraded shares of Vale from a “hold” rating to a “strong-buy” rating in a report on Monday, November 10th. Wells Fargo & Company upped their price target on Vale from $11.00 to $12.00 and gave the company a “cautious” rating in a report on Tuesday, November 4th. UBS Group increased their price objective on Vale from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Scotiabank upgraded Vale from a “sector perform” rating to a “sector outperform” rating and set a $14.00 target price on the stock in a report on Thursday, September 18th. Finally, Hsbc Global Res raised Vale to a “strong-buy” rating in a research report on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.61.

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.