Vale S.A. (NYSE:VALE) Shares Acquired by Metis Global Partners LLC

Metis Global Partners LLC increased its position in Vale S.A. (NYSE:VALE) by 42.4% in the third quarter, Holdings Channel reports. The firm owned 194,705 shares of the basic materials company’s stock after purchasing an additional 57,967 shares during the quarter. Metis Global Partners LLC’s holdings in Vale were worth $2,274,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ballentine Partners LLC boosted its holdings in shares of Vale by 7.8% in the 3rd quarter. Ballentine Partners LLC now owns 13,627 shares of the basic materials company’s stock valued at $159,000 after buying an additional 987 shares during the period. Legacy Capital Group California Inc. lifted its holdings in shares of Vale by 6.9% in the 2nd quarter. Legacy Capital Group California Inc. now owns 17,932 shares of the basic materials company’s stock worth $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 purchasing an additional 1,187 shares during the period. IFG Advisory LLC grew its stake in Vale by 6.1% during the 2nd quarter. IFG Advisory LLC now owns 22,702 shares of the basic materials company’s stock worth $254,000 after buying an additional 1,296 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its position in Vale by 5.0% in the third quarter. Pinnacle Associates Ltd. now owns 28,754 shares of the basic materials company’s stock worth $336,000 after buying an additional 1,375 shares during the period. 21.85% of the stock is owned by institutional investors.

Vale Stock Down 0.3 %

Shares of Vale stock opened at $9.81 on Friday. The stock’s fifty day moving average is $10.79 and its 200-day moving average is $11.14. The firm has a market capitalization of $43.96 billion, a PE ratio of 4.54, a price-to-earnings-growth ratio of 0.27 and a beta of 0.94. Vale S.A. has a 12-month low of $9.66 and a 12-month high of $16.08. The company has a quick ratio of 0.58, a current ratio of 0.91 and a debt-to-equity ratio of 0.39.

Vale (NYSE:VALE) last posted its quarterly earnings results on Thursday, October 24th. The basic materials company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. The company had revenue of $9.55 billion during the quarter, compared to the consensus estimate of $9.61 billion. Vale had a return on equity of 21.07% and a net margin of 22.59%. During the same period last year, the business earned $0.66 EPS. Equities analysts anticipate that Vale S.A. will post 2.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

VALE has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a research note on Monday, September 23rd. Wolfe Research lowered Vale from a “peer perform” rating to an “underperform” rating in a report on Wednesday, October 9th. Scotiabank decreased their price target on Vale from $17.00 to $16.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 15th. Morgan Stanley cut their price objective on shares of Vale from $16.00 to $15.50 and set an “overweight” rating on the stock in a research note on Thursday, September 19th. Finally, UBS Group cut shares of Vale from a “buy” rating to a “neutral” rating and lowered their target price for the company from $14.00 to $11.50 in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.83.

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.