Point72 Asset Management L.P. Raises Stock Position in Vale S.A. (NYSE:VALE)

Point72 Asset Management L.P. increased its stake in shares of Vale S.A. (NYSE:VALE - Free Report) by 57.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,778,126 shares of the basic materials company's stock after purchasing an additional 1,371,478 shares during the quarter. Point72 Asset Management L.P. owned 0.08% of Vale worth $44,129,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Pacifica Partners Inc. bought a new position in Vale during the second quarter valued at $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Vale during the 3rd quarter worth about $28,000. Point72 Hong Kong Ltd bought a new position in Vale during the 3rd quarter valued at about $36,000. Phillips Wealth Planners LLC purchased a new stake in Vale in the 3rd quarter worth about $118,000. Finally, Vawter Financial Ltd. bought a new stake in Vale in the second quarter worth about $124,000. Hedge funds and other institutional investors own 21.85% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on VALE shares. Scotiabank cut their target price on Vale from $16.00 to $14.00 and set a "sector perform" rating on the stock in a research note on Wednesday, November 20th. Morgan Stanley cut their price objective on Vale from $16.00 to $15.50 and set an "overweight" rating on the stock in a research report on Thursday, September 19th. JPMorgan Chase & Co. decreased their target price on Vale from $16.50 to $15.00 and set an "overweight" rating for the company in a research report on Monday, September 23rd. Wolfe Research cut shares of Vale from a "peer perform" rating to an "underperform" rating in a report on Wednesday, October 9th. Finally, StockNews.com assumed coverage on shares of Vale in a research note on Friday, October 18th. They issued a "buy" rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Vale has a consensus rating of "Hold" and an average target price of $14.91.

Vale Stock Up 1.3 %

NYSE:VALE traded up $0.12 during mid-day trading on Thursday, reaching $9.63. The company's stock had a trading volume of 24,567,287 shares, compared to its average volume of 27,517,646. The company has a quick ratio of 0.58, a current ratio of 0.91 and a debt-to-equity ratio of 0.39. Vale S.A. has a 1 year low of $9.42 and a 1 year high of $16.08. The stock has a fifty day moving average of $10.57 and a 200-day moving average of $10.86. The firm has a market capitalization of $43.17 billion, a PE ratio of 4.46, a price-to-earnings-growth ratio of 0.26 and a beta of 0.91.

Vale (NYSE:VALE - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.15. Vale had a net margin of 22.59% and a return on equity of 21.07%. The firm had revenue of $9.55 billion during the quarter, compared to analysts' expectations of $9.61 billion. During the same quarter in the prior year, the company earned $0.66 EPS. Equities research analysts forecast that Vale S.A. will post 2.13 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.