Fmr LLC Buys 5,635,167 Shares of Vale S.A. (NYSE:VALE)

FMR LLC increased its holdings in Vale S.A. (NYSE:VALE - Free Report) by 18.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,605,338 shares of the basic materials company's stock after purchasing an additional 5,635,167 shares during the period. FMR LLC owned approximately 0.82% of Vale worth $427,550,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in VALE. SPX Gestao de Recursos Ltda boosted its holdings in shares of 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 period. Fisher Asset Management LLC grew its stake in shares of Vale by 10.7% in the third quarter. Fisher Asset Management LLC now owns 17,404,942 shares of the basic materials company's stock worth $203,290,000 after acquiring an additional 1,682,544 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Vale by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,906,975 shares of the basic materials company's stock valued at $139,073,000 after purchasing an additional 53,061 shares during the period. Mondrian Investment Partners LTD grew its position in Vale by 20.4% in the 2nd quarter. Mondrian Investment Partners LTD now owns 10,950,729 shares of the basic materials company's stock worth $118,815,000 after purchasing an additional 1,854,940 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of 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 worth $92,868,000 after purchasing an additional 468,432 shares during the period. Institutional investors and hedge funds own 21.85% of the company's stock.

Vale Price Performance

Vale stock traded down $0.01 during trading hours on Friday, hitting $9.86. 30,374,874 shares of the stock were exchanged, compared to its average volume of 27,435,467. Vale S.A. has a 12 month low of $9.64 and a 12 month high of $16.08. The business's 50-day moving average is $10.69 and its two-hundred day moving average is $10.94. 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 stock has a market capitalization of $44.20 billion, a P/E ratio of 4.56, a P/E/G ratio of 0.27 and a beta of 0.94.

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

Wall Street Analysts Forecast Growth

VALE has been the topic of a number of recent research reports. UBS Group downgraded Vale from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $14.00 to $11.50 in a research report on Monday, November 11th. Scotiabank reduced their target price on Vale from $16.00 to $14.00 and set a "sector perform" rating for the company in a research report on Wednesday, November 20th. StockNews.com began coverage on shares of Vale in a research note on Friday, October 18th. They set a "buy" rating on the stock. Morgan Stanley dropped their price objective on shares of Vale from $16.00 to $15.50 and set an "overweight" rating for the company in a research note on Thursday, September 19th. Finally, Wolfe Research lowered 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 given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $15.13.

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.