Assenagon Asset Management S.A. Buys Shares of 1,911,079 Vale S.A. $VALE

Assenagon Asset Management S.A. bought a new position in Vale S.A. (NYSE:VALE) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 1,911,079 shares of the basic materials company’s stock, valued at approximately $20,754,000.

Several other institutional investors and hedge funds have also recently modified their holdings of VALE. Banque Transatlantique SA purchased a new stake in shares of Vale in the first quarter valued at about $30,000. CENTRAL TRUST Co acquired a new position in Vale in the 2nd quarter valued at about $34,000. GAMMA Investing LLC grew its stake in shares of Vale by 98.4% in the 2nd quarter. GAMMA Investing LLC now owns 4,075 shares of the basic materials company’s stock valued at $40,000 after buying an additional 2,021 shares during the period. Thompson Investment Management Inc. acquired a new stake in shares of Vale during the 2nd quarter worth approximately $46,000. Finally, Westend Capital Management LLC acquired a new stake in shares of Vale during the 2nd quarter worth approximately $48,000. Institutional investors and hedge funds own 21.85% of the company’s stock.

Wall Street Analysts Forecast Growth

VALE has been the subject of several analyst reports. Hsbc Global Res upgraded Vale to a “strong-buy” rating in a research report on Friday, October 17th. Morgan Stanley set a $11.50 target price on Vale in a research report on Wednesday, October 8th. HSBC increased their price target on Vale from $12.25 to $13.50 and gave the stock a “buy” rating in a report on Friday, October 17th. Jefferies Financial Group set a $15.00 price objective on shares of Vale and gave the company a “buy” rating in a report on Monday, November 3rd. Finally, Barclays increased their target price on shares of Vale from $13.80 to $14.50 and gave the stock an “overweight” rating in a research note on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $12.96.

Vale Trading Down 0.2%

NYSE:VALE opened at $12.75 on Friday. Vale S.A. has a 1 year low of $8.06 and a 1 year high of $13.62. The stock has a market cap of $57.87 billion, a P/E ratio of 9.81 and a beta of 0.57. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.82 and a current ratio of 1.24. The stock has a 50-day simple moving average of $12.20 and a 200-day simple moving average of $10.84.

Vale (NYSE:VALE) last posted its earnings results on Thursday, October 30th. The basic materials company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.14. Vale had a return on equity of 18.60% and a net margin of 14.69%.The firm had revenue of $10.42 billion during the quarter, compared to analysts’ expectations of $10.39 billion. As a group, analysts anticipate that Vale S.A. will post 1.85 earnings per share for the current fiscal year.

Vale Dividend Announcement

The business also recently declared a special dividend, which will be paid on Wednesday, January 14th. Investors of record on Friday, December 12th will be issued a dividend of $0.2331 per share. The ex-dividend date of this dividend is Friday, December 12th. Vale’s dividend payout ratio (DPR) is currently 69.23%.

About Vale

Vale SA is a Brazilian multinational mining company and one of the world’s largest producers of iron ore and iron ore pellets. In addition to iron ore, the company produces and sells a range of bulk commodities and metals, including nickel, copper, coal, manganese, ferroalloys and cobalt, and it participates in the fertilizer inputs market. Vale also operates extensive logistics assets — including rail, port and maritime logistics — that support its mining and export activities and provide services to third parties in some regions.

Headquartered in Brazil, Vale maintains a global operational footprint with mining, processing and shipping activities across the Americas, Africa, Asia and Oceania.