Ping Capital Management Inc. Grows Holdings in Vale S.A. (NYSE:VALE)

Ping Capital Management Inc. boosted its stake in Vale S.A. (NYSE:VALE - Free Report) by 76.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 74,000 shares of the basic materials company's stock after acquiring an additional 32,000 shares during the quarter. Ping Capital Management Inc.'s holdings in Vale were worth $656,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VALE. FMR LLC boosted its stake in shares of Vale by 18.2% in the third quarter. FMR LLC now owns 36,605,338 shares of the basic materials company's stock worth $427,550,000 after acquiring an additional 5,635,167 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Vale by 3,692.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 18,200,000 shares of the basic materials company's stock worth $212,576,000 after purchasing an additional 17,720,100 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Vale by 10.7% during 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 buying an additional 1,682,544 shares in the last quarter. Itau Unibanco Holding S.A. raised its position in shares of Vale by 123.4% in the third quarter. Itau Unibanco Holding S.A. now owns 12,059,814 shares of the basic materials company's stock valued at $140,859,000 after buying an additional 6,660,933 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Vale by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,906,975 shares of the basic materials company's stock worth $139,073,000 after buying an additional 53,061 shares in the last quarter. Hedge funds and other institutional investors own 21.85% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on VALE. Wolfe Research raised shares of Vale from an "underperform" rating to a "peer perform" rating in a research note on Wednesday, January 8th. UBS Group cut Vale from a "buy" rating to a "neutral" rating and cut their price target for the company from $14.00 to $11.50 in a report on Monday, November 11th. Jefferies Financial Group lowered their price objective on Vale from $14.00 to $11.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Scotiabank cut their target price on Vale from $14.00 to $13.00 and set a "sector perform" rating for the company in a research note on Monday, January 6th. Finally, Barclays reduced their price target on Vale from $16.00 to $15.25 and set an "overweight" rating on the stock in a report on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $13.89.

Vale Trading Down 1.6 %

VALE stock traded down $0.15 during trading on Friday, reaching $9.46. 35,970,280 shares of the stock were exchanged, compared to its average volume of 41,358,476. 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 business has a 50 day moving average price of $9.08 and a 200-day moving average price of $10.05. Vale S.A. has a 1 year low of $8.38 and a 1 year high of $13.77. The firm has a market capitalization of $42.93 billion, a price-to-earnings ratio of 4.38, a P/E/G ratio of 0.30 and a beta of 0.91.

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.