Mirabella Financial Services LLP Buys 279,789 Shares of Vale S.A. (NYSE:VALE)

Mirabella Financial Services LLP lifted its holdings in Vale S.A. (NYSE:VALE - Free Report) by 171.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 442,818 shares of the basic materials company's stock after purchasing an additional 279,789 shares during the period. Mirabella Financial Services LLP's holdings in Vale were worth $5,172,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of VALE. SPX Gestao de Recursos Ltda grew its stake in Vale by 60.6% during 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 buying an additional 8,288,112 shares during the last quarter. Marshall Wace LLP boosted its stake in Vale by 395.3% during the second quarter. Marshall Wace LLP now owns 7,152,069 shares of the basic materials company's stock worth $79,889,000 after buying an additional 5,707,969 shares during the period. Van ECK Associates Corp boosted 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 valued at $60,983,000 after buying an additional 2,871,094 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Vale by 27.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 11,853,914 shares of the basic materials company's stock valued at $132,408,000 after buying an additional 2,578,900 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in Vale in the third quarter valued at $30,038,000. 21.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Vale Price Performance

NYSE:VALE traded up $0.04 during trading hours on Monday, reaching $10.06. The company had a trading volume of 17,521,563 shares, compared to its average volume of 27,436,514. The firm has a market capitalization of $45.10 billion, a PE ratio of 4.65, a PEG ratio of 0.27 and a beta of 0.94. Vale S.A. has a one year low of $9.66 and a one year high of $16.08. The company has a quick ratio of 0.58, a current ratio of 0.91 and a debt-to-equity ratio of 0.39. The stock has a 50-day moving average of $10.76 and a two-hundred day moving average of $11.02.

Vale (NYSE:VALE - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.15. The company had revenue of $9.55 billion for the quarter, compared to analyst estimates of $9.61 billion. Vale had a net margin of 22.59% and a return on equity of 21.07%. During the same period in the prior year, the firm earned $0.66 earnings per share. Analysts forecast that Vale S.A. will post 2.12 earnings per share for the current year.

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.