Oxbow Advisors LLC decreased its position in Vale S.A. (NYSE:VALE – Free Report) by 42.8% during the 1st quarter, Holdings Channel reports. The firm owned 312,615 shares of the basic materials company’s stock after selling 234,167 shares during the period. Oxbow Advisors LLC’s holdings in Vale were worth $4,974,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. NewEdge Advisors LLC boosted its position in Vale by 4.9% during the 1st quarter. NewEdge Advisors LLC now owns 79,400 shares of the basic materials company’s stock valued at $792,000 after buying an additional 3,704 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Vale by 46.6% during the first quarter. Jones Financial Companies Lllp now owns 37,613 shares of the basic materials company’s stock valued at $375,000 after acquiring an additional 11,964 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Vale during the first quarter valued at about $171,000. Strs Ohio purchased a new stake in shares of Vale during the first quarter worth about $117,000. Finally, Sivia Capital Partners LLC purchased a new stake in shares of Vale during the second quarter worth about $123,000. 21.85% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the company. Morgan Stanley boosted their price target on Vale from $18.00 to $19.50 and gave the company an “overweight” rating in a report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $18.00 price objective on shares of Vale in a report on Friday, May 15th. Wells Fargo & Company cut their price objective on Vale from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 30th. Bank of America raised Vale from a “neutral” rating to a “buy” rating and boosted their target price for the company from $18.00 to $19.00 in a research note on Thursday, April 2nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Vale in a report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.85.
Vale Trading Down 0.1%
Shares of VALE opened at $14.97 on Friday. Vale S.A. has a 1-year low of $9.36 and a 1-year high of $17.94. The company has a current ratio of 1.24, a quick ratio of 0.79 and a debt-to-equity ratio of 0.48. The firm’s 50-day moving average price is $15.98 and its 200-day moving average price is $15.64. The firm has a market capitalization of $67.97 billion, a price-to-earnings ratio of 22.35 and a beta of 0.46.
Vale (NYSE:VALE – Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). Vale had a return on equity of 21.10% and a net margin of 7.21%.The company had revenue of $9.26 billion during the quarter, compared to the consensus estimate of $9.53 billion. Sell-side analysts anticipate that Vale S.A. will post 2.15 EPS for the current year.
About Vale
Vale SA is a Brazilian multinational mining company and one of the world’s largest producers of iron ore and iron ore pellets. In addition to iron ore, the company produces and sells a range of bulk commodities and metals, including nickel, copper, coal, manganese, ferroalloys and cobalt, and it participates in the fertilizer inputs market. Vale also operates extensive logistics assets — including rail, port and maritime logistics — that support its mining and export activities and provide services to third parties in some regions.
Headquartered in Brazil, Vale maintains a global operational footprint with mining, processing and shipping activities across the Americas, Africa, Asia and Oceania.
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