Healthcare of Ontario Pension Plan Trust Fund Increases Stock Position in Vale S.A. (NYSE:VALE)

Healthcare of Ontario Pension Plan Trust Fund raised its position in Vale S.A. (NYSE:VALE - Free Report) by 3,692.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 18,200,000 shares of the basic materials company's stock after acquiring an additional 17,720,100 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.41% of Vale worth $212,576,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in VALE. Tidal Investments LLC increased its position in shares of Vale by 17.1% during the first quarter. Tidal Investments LLC now owns 288,419 shares of the basic materials company's stock worth $3,515,000 after acquiring an additional 42,118 shares in the last quarter. Wahed Invest LLC raised its stake in shares of Vale by 45.0% in the first quarter. Wahed Invest LLC now owns 39,861 shares of the basic materials company's stock worth $486,000 after purchasing an additional 12,377 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Vale in the first quarter valued at approximately $1,379,000. Cetera Investment Advisers boosted its position in shares of Vale by 316.9% during the first quarter. Cetera Investment Advisers now owns 217,250 shares of the basic materials company's stock valued at $2,648,000 after buying an additional 165,141 shares during the last quarter. Finally, Cetera Advisors LLC grew its holdings in Vale by 109.1% during the first quarter. Cetera Advisors LLC now owns 101,406 shares of the basic materials company's stock worth $1,236,000 after buying an additional 52,906 shares in the last quarter. Institutional investors and hedge funds own 21.85% of the company's stock.

Vale Price Performance

Shares of VALE stock traded down $0.03 during trading hours on Wednesday, hitting $9.87. 28,101,432 shares of the company's stock were exchanged, compared to its average volume of 27,422,541. The company has a market capitalization of $44.25 billion, a PE ratio of 4.58, a PEG ratio of 0.27 and a beta of 0.94. The company has a current ratio of 0.91, a quick ratio of 0.58 and a debt-to-equity ratio of 0.39. Vale S.A. has a 12-month low of $9.66 and a 12-month high of $16.08. The business's 50 day simple moving average is $10.73 and its 200-day simple moving average is $10.98.

Vale (NYSE:VALE - Get Free Report) last issued its earnings results on Thursday, October 24th. The basic materials company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.15. Vale had a net margin of 22.59% and a return on equity of 21.07%. The company had revenue of $9.55 billion for the quarter, compared to analysts' expectations of $9.61 billion. During the same quarter last year, the company earned $0.66 EPS. On average, equities research analysts anticipate that Vale S.A. will post 2.12 earnings per share for the current year.

Analysts Set New Price Targets

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

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.