BlackRock Inc. Sells 5,825,013 Shares of Vale SA (NYSE:VALE)

BlackRock Inc. lessened its stake in Vale SA (NYSE:VALE) by 9.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,200,827 shares of the basic materials company’s stock after selling 5,825,013 shares during the quarter. BlackRock Inc. owned approximately 1.13% of Vale worth $795,658,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Newfoundland Capital Management bought a new position in shares of Vale in the second quarter valued at approximately $3,260,000. Verition Fund Management LLC bought a new position in shares of Vale in the second quarter valued at approximately $141,000. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Vale by 59.9% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 829,017 shares of the basic materials company’s stock valued at $11,143,000 after purchasing an additional 310,623 shares in the last quarter. ClariVest Asset Management LLC lifted its holdings in shares of Vale by 3.4% in the second quarter. ClariVest Asset Management LLC now owns 1,173,300 shares of the basic materials company’s stock valued at $15,769,000 after purchasing an additional 38,300 shares in the last quarter. Finally, MIG Capital LLC bought a new position in shares of Vale in the second quarter valued at approximately $159,000. Institutional investors own 18.32% of the company’s stock.

A number of analysts recently commented on VALE shares. Macquarie upgraded Vale from a “neutral” rating to an “outperform” rating and set a $14.00 price target on the stock in a report on Tuesday, September 10th. BMO Capital Markets set a $12.00 price target on Vale and gave the stock a “hold” rating in a report on Tuesday, October 15th. HSBC set a $13.00 price target on Vale and gave the stock a “hold” rating in a report on Tuesday, October 15th. Barclays set a $12.00 price target on Vale and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, BNP Paribas upgraded Vale from an “underperform” rating to a “neutral” rating in a report on Thursday, September 5th. Thirteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $13.49.

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Shares of Vale stock opened at $11.77 on Friday. The business’s fifty day simple moving average is $11.61 and its 200 day simple moving average is $12.22. The firm has a market capitalization of $60.77 billion, a P/E ratio of 6.36, a price-to-earnings-growth ratio of 2.76 and a beta of 1.17. Vale SA has a 12 month low of $10.20 and a 12 month high of $15.45. The company has a current ratio of 1.24, a quick ratio of 0.87 and a debt-to-equity ratio of 0.37.

Vale (NYSE:VALE) last issued its earnings results on Thursday, October 24th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.19). The firm had revenue of $10.22 billion during the quarter, compared to the consensus estimate of $10.62 billion. Vale had a net margin of 9.79% and a return on equity of 20.43%. Analysts predict that Vale SA will post 1.1 EPS for the current fiscal year.

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; and provides related logistic services.

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Institutional Ownership by Quarter for Vale (NYSE:VALE)

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