Assenagon Asset Management S.A. Makes New $30.04 Million Investment in Vale S.A. (NYSE:VALE)

Assenagon Asset Management S.A. acquired a new stake in shares of Vale S.A. (NYSE:VALE - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,571,719 shares of the basic materials company's stock, valued at approximately $30,038,000. Assenagon Asset Management S.A. owned approximately 0.06% of Vale at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Pacifica Partners Inc. purchased a new stake in shares of Vale in the second quarter worth about $27,000. Lowe Wealth Advisors LLC acquired a new stake in shares of Vale during the 2nd quarter worth about $45,000. Deuterium Capital Management LLC purchased a new stake in Vale in the first quarter valued at approximately $122,000. Vawter Financial Ltd. purchased a new stake in Vale during the second quarter worth about $124,000. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in shares of Vale in the second quarter valued at $125,000. 21.85% of the stock is currently owned by hedge funds and other institutional investors.

Vale Stock Performance

Shares of Vale stock traded up $0.39 during trading on Friday, hitting $10.88. 59,680,172 shares of the stock were exchanged, compared to its average volume of 27,312,193. Vale S.A. has a 12 month low of $9.66 and a 12 month high of $16.08. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.73 and a current ratio of 1.08. The stock has a market cap of $48.78 billion, a PE ratio of 6.01, a P/E/G ratio of 0.30 and a beta of 0.93. The stock's fifty day moving average is $10.76 and its 200 day moving average is $11.29.

Vale (NYSE:VALE - Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.05. The company had revenue of $9.92 billion for the quarter, compared to analysts' expectations of $9.97 billion. Vale had a net margin of 23.07% and a return on equity of 22.23%. As a group, sell-side analysts anticipate that Vale S.A. will post 2.06 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on VALE shares. Morgan Stanley reduced their price target on shares of Vale from $16.00 to $15.50 and set an "overweight" rating for the company in a research report on Thursday, September 19th. UBS Group decreased their target price on Vale from $15.00 to $14.50 and set a "buy" rating on the stock in a research report on Friday, July 5th. JPMorgan Chase & Co. reduced their price objective on Vale from $16.50 to $15.00 and set an "overweight" rating on the stock in a research report on Monday, September 23rd. StockNews.com initiated coverage on Vale in a research note on Friday, October 18th. They issued a "buy" rating on the stock. Finally, Scotiabank decreased their target price on Vale from $17.00 to $16.00 and set a "sector perform" rating for the company in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Vale currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.15.

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.