Polar Asset Management Partners Inc. Buys New Shares in Vale S.A. (NYSE:VALE)

Polar Asset Management Partners Inc. bought a new position in Vale S.A. (NYSE:VALE - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 121,736 shares of the basic materials company's stock, valued at approximately $1,422,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Murchinson Ltd. acquired a new position in Vale during the 3rd quarter worth $11,680,000. NFJ Investment Group LLC boosted its holdings in Vale by 17.6% in the third quarter. NFJ Investment Group LLC now owns 469,036 shares of the basic materials company's stock valued at $5,478,000 after acquiring an additional 70,278 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in Vale by 5.8% in the third quarter. Integrated Wealth Concepts LLC now owns 73,037 shares of the basic materials company's stock worth $853,000 after purchasing an additional 4,007 shares during the period. Itau Unibanco Holding S.A. raised its holdings in Vale by 123.4% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 12,059,814 shares of the basic materials company's stock worth $140,859,000 after purchasing an additional 6,660,933 shares during the last quarter. Finally, Holocene Advisors LP bought a new stake in Vale during the 3rd quarter worth about $80,300,000. 21.85% of the stock is owned by institutional investors and hedge funds.

Vale Stock Down 2.7 %

NYSE VALE traded down $0.26 during trading hours on Friday, reaching $9.35. 27,875,911 shares of the company's stock were exchanged, compared to its average volume of 27,522,600. 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 company has a market capitalization of $41.92 billion, a price-to-earnings ratio of 4.33, a price-to-earnings-growth ratio of 0.26 and a beta of 0.91. The company's 50-day moving average is $10.57 and its two-hundred day moving average is $10.86. Vale S.A. has a one year low of $9.33 and a one year high of $16.08.

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 (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.15. The company had revenue of $9.55 billion during the quarter, compared to the consensus estimate of $9.61 billion. Vale had a net margin of 22.59% and a return on equity of 21.07%. During the same quarter in the prior year, the firm earned $0.66 earnings per share. On average, analysts forecast that Vale S.A. will post 2.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on VALE. Scotiabank lowered their price target on shares of Vale from $16.00 to $14.00 and set a "sector perform" rating for the company in a research report on Wednesday, November 20th. JPMorgan Chase & Co. lowered their target price on shares of Vale from $16.50 to $15.00 and set an "overweight" rating for the company in a report on Monday, September 23rd. Barclays cut their price target on Vale from $16.00 to $15.25 and set an "overweight" rating on the stock in a research note on Wednesday. StockNews.com started coverage on Vale in a research note on Friday, October 18th. They set a "buy" rating for the company. Finally, Wolfe Research lowered Vale from a "peer perform" rating to an "underperform" rating in a research note on Wednesday, October 9th. One equities 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 stock. According to data from MarketBeat, Vale currently has an average rating of "Hold" and a consensus price target of $14.91.

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.