Waterfront Wealth Inc. Purchases New Position in Vale S.A. $VALE

Waterfront Wealth Inc. purchased a new stake in Vale S.A. (NYSE:VALE) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 77,697 shares of the basic materials company’s stock, valued at approximately $894,000.

Several other institutional investors have also modified their holdings of VALE. Invesco Ltd. grew its position in shares of Vale by 1,534.8% in the 2nd quarter. Invesco Ltd. now owns 24,810,285 shares of the basic materials company’s stock valued at $240,908,000 after buying an additional 23,292,629 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Vale by 31.8% in the second quarter. Fisher Asset Management LLC now owns 21,705,260 shares of the basic materials company’s stock valued at $210,758,000 after acquiring an additional 5,234,201 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of Vale by 5.3% during the second quarter. Lazard Asset Management LLC now owns 20,080,222 shares of the basic materials company’s stock worth $194,978,000 after purchasing an additional 1,002,588 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Vale by 2.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,296,306 shares of the basic materials company’s stock worth $158,237,000 after purchasing an additional 363,901 shares during the last quarter. Finally, Ninety One UK Ltd increased its position in shares of Vale by 29.7% during the third quarter. Ninety One UK Ltd now owns 7,632,938 shares of the basic materials company’s stock worth $82,894,000 after purchasing an additional 1,747,474 shares in the last quarter. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Vale Price Performance

NYSE:VALE opened at $16.31 on Monday. The company has a current ratio of 1.24, a quick ratio of 0.82 and a debt-to-equity ratio of 0.49. The firm’s fifty day moving average price is $14.17 and its 200 day moving average price is $12.09. Vale S.A. has a 1-year low of $8.06 and a 1-year high of $17.34.

Vale Dividend Announcement

The company also recently announced a special dividend, which was paid on Wednesday, January 14th. Stockholders of record on Friday, December 12th were issued a $0.2331 dividend. The ex-dividend date of this dividend was Friday, December 12th. Vale’s payout ratio is presently 67.69%.

Analysts Set New Price Targets

A number of analysts recently issued reports on VALE shares. UBS Group raised their price target on Vale from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Monday, December 8th. Wells Fargo & Company raised their target price on shares of Vale from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 28th. Barclays upped their price target on shares of Vale from $14.50 to $15.50 and gave the company an “overweight” rating in a research report on Thursday, January 8th. JPMorgan Chase & Co. raised their price objective on shares of Vale from $13.50 to $14.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Finally, Jefferies Financial Group set a $15.00 target price on shares of Vale and gave the company a “buy” rating in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.73.

Vale Profile

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.