Vinland Capital Management Gestora de Recursos LTDA. Makes New $707,000 Investment in Vale S.A. (NYSE:VALE)

Vinland Capital Management Gestora de Recursos LTDA. purchased a new position in Vale S.A. (NYSE:VALE) in the third quarter, HoldingsChannel reports. The institutional investor purchased 60,523 shares of the basic materials company’s stock, valued at approximately $707,000. Vale makes up approximately 1.7% of Vinland Capital Management Gestora de Recursos LTDA.’s holdings, making the stock its 24th biggest holding.

A number of other hedge funds have also recently made changes to their positions in VALE. Ballentine Partners LLC grew its holdings in shares of Vale by 7.8% during the 3rd quarter. Ballentine Partners LLC now owns 13,627 shares of the basic materials company’s stock valued at $159,000 after purchasing an additional 987 shares during the last quarter. Legacy Capital Group California Inc. grew its holdings in shares of Vale by 6.9% during the 2nd quarter. Legacy Capital Group California Inc. now owns 17,932 shares of the basic materials company’s stock valued at $200,000 after purchasing an additional 1,154 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Vale by 1.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 62,076 shares of the basic materials company’s stock valued at $693,000 after buying an additional 1,187 shares during the period. Inspire Advisors LLC boosted its position in Vale by 6.8% during the 1st quarter. Inspire Advisors LLC now owns 19,277 shares of the basic materials company’s stock valued at $235,000 after buying an additional 1,226 shares during the period. Finally, IFG Advisory LLC boosted its position in Vale by 6.1% during the 2nd quarter. IFG Advisory LLC now owns 22,702 shares of the basic materials company’s stock valued at $254,000 after buying an additional 1,296 shares during the period. 21.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

VALE has been the subject of several analyst reports. Scotiabank dropped their price target on shares of Vale from $17.00 to $16.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 15th. Wolfe Research cut shares of Vale from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, October 9th. StockNews.com initiated coverage on shares of Vale in a research report on Friday, October 18th. They set a “buy” rating for the company. UBS Group dropped their price target on shares of Vale from $15.00 to $14.50 and set a “buy” rating for the company in a research report on Friday, July 5th. Finally, Morgan Stanley dropped their price target on shares of Vale from $16.00 to $15.50 and set an “overweight” rating for the company in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $16.17.

Vale Stock Down 0.7 %

Shares of Vale stock opened at $10.81 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.08 and a quick ratio of 0.73. The company has a 50-day moving average of $10.78 and a 200 day moving average of $11.26. The firm has a market cap of $48.46 billion, a price-to-earnings ratio of 5.97, a PEG ratio of 0.30 and a beta of 0.93. Vale S.A. has a 1 year low of $9.66 and a 1 year high of $16.08.

Vale (NYSE:VALE) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. The business had revenue of $9.55 billion during the quarter, compared to analyst estimates of $9.61 billion. Vale had a net margin of 23.07% and a return on equity of 22.23%. During the same period last year, the business earned $0.66 EPS. As a group, sell-side analysts anticipate that Vale S.A. will post 2.06 earnings per share 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. The company operates through Iron Solutions and Energy Transition Materials segments. The Iron Solutions segment produces and extracts iron ore and pellets, manganese, and other ferrous products; and provides related logistic services.