Short Interest in Vale SA (VALE) Expands By 12.9%

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Vale SA (NYSE:VALE) was the recipient of a significant growth in short interest in the month of March. As of March 29th, there was short interest totalling 59,782,535 shares, a growth of 12.9% from the March 15th total of 52,970,032 shares. Approximately 1.1% of the shares of the company are short sold. Based on an average daily volume of 28,202,809 shares, the days-to-cover ratio is presently 2.1 days.

VALE has been the subject of a number of research reports. Barclays set a $16.00 target price on Vale and gave the stock a “buy” rating in a report on Thursday, January 10th. BNP Paribas downgraded Vale from a “neutral” rating to an “underperform” rating in a report on Thursday, January 24th. Exane BNP Paribas downgraded Vale from a “neutral” rating to an “underperform” rating in a report on Thursday, January 24th. Jefferies Financial Group downgraded Vale from a “buy” rating to a “hold” rating and decreased their target price for the stock from $18.00 to $14.00 in a report on Monday, January 28th. Finally, BMO Capital Markets downgraded Vale from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $15.00 to $13.00 in a report on Monday, January 28th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $14.03.

Large investors have recently made changes to their positions in the business. Lindbrook Capital LLC acquired a new position in Vale in the fourth quarter valued at approximately $26,000. Semmax Financial Advisors Inc. acquired a new position in Vale in the fourth quarter valued at approximately $29,000. Great West Life Assurance Co. Can acquired a new position in Vale in the third quarter valued at approximately $119,000. Bessemer Group Inc. acquired a new position in Vale in the fourth quarter valued at approximately $124,000. Finally, James Investment Research Inc. lifted its holdings in Vale by 57.7% in the fourth quarter. James Investment Research Inc. now owns 9,460 shares of the basic materials company’s stock valued at $125,000 after acquiring an additional 3,460 shares during the period. 19.79% of the stock is owned by institutional investors.

Shares of NYSE:VALE opened at $13.28 on Tuesday. Vale has a 12-month low of $10.89 and a 12-month high of $16.13. The company has a market capitalization of $69.08 billion, a price-to-earnings ratio of 7.18 and a beta of 1.13. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.68 and a quick ratio of 1.19.

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About Vale

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. It operates through Ferrous Minerals, Coal, and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and others ferrous products and services, as well as engages in the provision of related railroad, port, and terminal logistics services.

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