Jennison Associates LLC bought a new position in Vale S.A. (NYSE:VALE - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 394,343 shares of the basic materials company's stock, valued at approximately $4,606,000.
Other institutional investors have also recently bought and sold shares of the company. SPX Gestao de Recursos Ltda grew its position in Vale by 60.6% in the 2nd quarter. SPX Gestao de Recursos Ltda now owns 21,969,937 shares of the basic materials company's stock worth $245,404,000 after purchasing an additional 8,288,112 shares during the last quarter. Marshall Wace LLP grew its position in Vale by 395.3% in the 2nd quarter. Marshall Wace LLP now owns 7,152,069 shares of the basic materials company's stock worth $79,889,000 after purchasing an additional 5,707,969 shares during the last quarter. Van ECK Associates Corp grew its position in Vale by 110.9% in the 2nd quarter. Van ECK Associates Corp now owns 5,459,485 shares of the basic materials company's stock worth $60,983,000 after purchasing an additional 2,871,094 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Vale by 27.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 11,853,914 shares of the basic materials company's stock worth $132,408,000 after purchasing an additional 2,578,900 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Vale in the 3rd quarter worth $30,038,000. Institutional investors own 21.85% of the company's stock.
Vale Price Performance
Shares of NYSE VALE traded up $0.06 during trading on Friday, reaching $10.02. The company had a trading volume of 19,121,394 shares, compared to its average volume of 31,259,516. Vale S.A. has a 52 week low of $9.66 and a 52 week high of $16.08. The stock has a market cap of $44.92 billion, a PE ratio of 4.64, a PEG ratio of 0.27 and a beta of 0.94. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.58 and a current ratio of 0.91. The business's 50 day moving average price is $10.76 and its 200-day moving average price is $11.03.
Vale (NYSE:VALE - Get Free Report) last announced its earnings results on Thursday, October 24th. The basic materials company reported $0.56 earnings per share 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 during the quarter, compared to the consensus estimate of $9.61 billion. During the same period in the previous year, the firm posted $0.66 earnings per share. Analysts expect that Vale S.A. will post 2.12 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the stock. Morgan Stanley decreased their price target on shares of Vale from $16.00 to $15.50 and set an "overweight" rating on the stock in a research report on Thursday, September 19th. StockNews.com started coverage on shares of Vale in a research report on Friday, October 18th. They set a "buy" rating on the stock. JPMorgan Chase & Co. decreased their target price on shares of Vale from $16.50 to $15.00 and set an "overweight" rating on the stock in a research report on Monday, September 23rd. Wolfe Research lowered shares of Vale from a "peer perform" rating to an "underperform" rating in a research report on Wednesday, October 9th. Finally, Scotiabank decreased their target price on shares of Vale from $16.00 to $14.00 and set a "sector perform" rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $15.13.
Check Out Our Latest Stock Report on VALE
Vale Profile
(
Free Report)
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.
Further Reading
Before you consider Vale, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Vale wasn't on the list.
While Vale currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
