352,044 Shares of Vale S.A. $VALE Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Vale S.A. (NYSE:VALE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 352,044 shares of the basic materials company’s stock, valued at approximately $4,721,000.

Several other hedge funds and other institutional investors have also made changes to their positions in VALE. NewEdge Wealth LLC grew its holdings in shares of Vale by 2.8% in the first quarter. NewEdge Wealth LLC now owns 25,799 shares of the basic materials company’s stock valued at $410,000 after purchasing an additional 708 shares in the last quarter. Foster Group Inc. increased its stake in Vale by 6.9% during the 3rd quarter. Foster Group Inc. now owns 11,697 shares of the basic materials company’s stock worth $157,000 after buying an additional 758 shares during the period. Signaturefd LLC increased its stake in Vale by 2.4% during the 3rd quarter. Signaturefd LLC now owns 36,105 shares of the basic materials company’s stock worth $484,000 after buying an additional 847 shares during the period. ProShare Advisors LLC lifted its holdings in Vale by 7.1% during the 3rd quarter. ProShare Advisors LLC now owns 15,980 shares of the basic materials company’s stock worth $214,000 after buying an additional 1,053 shares in the last quarter. Finally, Moody National Bank Trust Division lifted its holdings in Vale by 5.7% during the 3rd quarter. Moody National Bank Trust Division now owns 19,659 shares of the basic materials company’s stock worth $264,000 after buying an additional 1,058 shares in the last quarter. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Vale Stock Performance

Shares of Vale stock opened at $11.41 on Friday. The business has a 50-day simple moving average of $13.57 and a 200-day simple moving average of $15.18. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.77 and a current ratio of 1.10. Vale S.A. has a one year low of $10.96 and a one year high of $17.94. The company has a market cap of $51.81 billion, a PE ratio of 7.99 and a beta of 0.50.

Vale (NYSE:VALE) last issued its earnings results on Thursday, October 29th. The basic materials company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.09). The firm had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.45 billion. Vale had a net margin of 1.64% and a return on equity of 16.54%. On average, equities research analysts forecast that Vale S.A. will post 1.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on VALE. Bank of America cut shares of Vale from a “buy” rating to a “neutral” rating and decreased their price target for the company from $18.00 to $16.00 in a research report on Wednesday, August 5th. Wells Fargo & Company cut their price objective on Vale from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. upped their price objective on Vale from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 30th. Zacks Research cut Vale from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. Finally, Freedom Broker decreased their target price on Vale from $12.00 to $9.50 and set a “buy” rating for the company in a report on Monday. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Vale has a consensus rating of “Hold” and a consensus target price of $14.96.

Vale Company Profile

Vale SA is a Brazil-based global mining and logistics company best known for producing iron ore and iron ore pellets, key raw materials used in steelmaking. The company also produces nickel, copper, manganese ore, coal and other mineral products, with operations spanning exploration, extraction, processing and transportation.

Vale operates an extensive logistics network that includes railways, ports and maritime transportation systems, primarily supporting the movement of minerals from its production sites to domestic and international customers.