SPX Gestao de Recursos Ltda Has $79.19 Million Position in Vale S.A. (NYSE:VALE)

SPX Gestao de Recursos Ltda cut its holdings in shares of Vale S.A. (NYSE:VALE - Free Report) by 69.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,780,214 shares of the basic materials company's stock after selling 15,189,723 shares during the period. Vale makes up about 10.5% of SPX Gestao de Recursos Ltda's investment portfolio, making the stock its 3rd largest holding. SPX Gestao de Recursos Ltda owned about 0.15% of Vale worth $79,193,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. increased its stake in Vale by 6.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,951,020 shares of the basic materials company's stock valued at $92,868,000 after buying an additional 468,432 shares during the period. Bank of Montreal Can increased its stake in shares of Vale by 274.4% during the third quarter. Bank of Montreal Can now owns 162,453 shares of the basic materials company's stock valued at $1,915,000 after acquiring an additional 119,061 shares during the period. Bridgewater Associates LP raised its holdings in Vale by 723.2% during the third quarter. Bridgewater Associates LP now owns 2,035,477 shares of the basic materials company's stock worth $23,774,000 after purchasing an additional 1,788,205 shares in the last quarter. Polar Asset Management Partners Inc. acquired a new stake in Vale in the third quarter worth approximately $1,422,000. Finally, NFJ Investment Group LLC boosted its stake in Vale by 17.6% during the 3rd quarter. NFJ Investment Group LLC now owns 469,036 shares of the basic materials company's stock valued at $5,478,000 after purchasing an additional 70,278 shares in the last quarter. 21.85% of the stock is owned by institutional investors.

Vale Stock Performance

VALE traded down $0.21 during trading on Friday, hitting $9.26. The stock had a trading volume of 27,085,145 shares, compared to its average volume of 27,648,803. The company has a current ratio of 0.91, a quick ratio of 0.58 and a debt-to-equity ratio of 0.39. The company has a 50 day simple moving average of $10.33 and a 200-day simple moving average of $10.73. The firm has a market cap of $41.51 billion, a PE ratio of 4.28, a P/E/G ratio of 0.27 and a beta of 0.91. Vale S.A. has a 12 month low of $9.22 and a 12 month high of $16.08.

Vale (NYSE:VALE - Get Free Report) last released its earnings results on Thursday, October 24th. The basic materials company reported $0.56 EPS for the quarter, beating 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 period in the prior year, the company earned $0.66 EPS. Analysts expect that Vale S.A. will post 2.08 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on VALE. Barclays dropped their price objective on Vale from $16.00 to $15.25 and set an "overweight" rating on the stock in a research note on Wednesday, December 4th. Wolfe Research cut shares of Vale from a "peer perform" rating to an "underperform" rating in a report on Wednesday, October 9th. UBS Group downgraded Vale from a "buy" rating to a "neutral" rating and lowered their price target for the company from $14.00 to $11.50 in a report on Monday, November 11th. Scotiabank lowered their price objective 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, November 20th. Finally, JPMorgan Chase & Co. dropped their target price on Vale from $16.50 to $15.00 and set an "overweight" rating on the stock in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $14.38.

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.