Vale S.A. $VALE Position Trimmed by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in Vale S.A. (NYSE:VALE) by 11.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 10,163,946 shares of the basic materials company’s stock after selling 1,359,525 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Vale were worth $98,692,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Metis Global Partners LLC boosted its stake in shares of Vale by 23.9% during the 2nd quarter. Metis Global Partners LLC now owns 281,144 shares of the basic materials company’s stock worth $2,730,000 after acquiring an additional 54,281 shares in the last quarter. Savant Capital LLC lifted its holdings in shares of Vale by 234.1% during the second quarter. Savant Capital LLC now owns 56,966 shares of the basic materials company’s stock valued at $553,000 after purchasing an additional 39,915 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Vale by 11.7% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 529,967 shares of the basic materials company’s stock valued at $5,019,000 after purchasing an additional 55,543 shares during the period. Freestone Capital Holdings LLC acquired a new position in shares of Vale in the 2nd quarter valued at $142,000. Finally, Wellington Shields Capital Management LLC increased its stake in Vale by 3.8% in the 2nd quarter. Wellington Shields Capital Management LLC now owns 41,500 shares of the basic materials company’s stock worth $403,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 21.85% of the company’s stock.

Vale Stock Performance

VALE stock opened at $12.15 on Friday. The firm has a 50 day simple moving average of $11.09 and a 200 day simple moving average of $10.20. Vale S.A. has a 52 week low of $8.06 and a 52 week high of $12.40. The stock has a market cap of $55.13 billion, a P/E ratio of 9.87 and a beta of 0.82. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.85 and a current ratio of 1.22.

Vale (NYSE:VALE) last released its earnings results on Thursday, October 30th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.14. The company had revenue of $10.42 billion during the quarter, compared to the consensus estimate of $10.39 billion. Vale had a net margin of 14.23% and a return on equity of 18.14%. Research analysts anticipate that Vale S.A. will post 1.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Barclays upped their price objective on shares of Vale from $13.70 to $13.80 and gave the company an “overweight” rating in a research note on Friday, October 10th. UBS Group upped their price target on shares of Vale from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Scotiabank upgraded shares of Vale from a “sector perform” rating to a “sector outperform” rating and set a $14.00 price objective on the stock in a research report on Thursday, September 18th. Morgan Stanley set a $11.50 target price on shares of Vale in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company increased their target price on Vale from $11.00 to $12.00 and gave the company a “cautious” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Vale currently has a consensus rating of “Moderate Buy” and an average target price of $12.55.

Vale Company 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.