National Bank of Canada FI Cuts Stock Holdings in Vale S.A. (NYSE:VALE)

National Bank of Canada FI cut its stake in shares of Vale S.A. (NYSE:VALE) by 94.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 88,886 shares of the basic materials company’s stock after selling 1,486,756 shares during the period. National Bank of Canada FI’s holdings in Vale were worth $1,038,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Vale in the third quarter valued at approximately $28,000. Point72 Hong Kong Ltd purchased a new stake in Vale during the third quarter worth approximately $36,000. Vienna Asset Management LLC acquired a new stake in shares of Vale in the third quarter worth $117,000. Phillips Wealth Planners LLC purchased a new position in shares of Vale in the 3rd quarter valued at $118,000. Finally, Vawter Financial Ltd. acquired a new position in shares of Vale during the 2nd quarter valued at $124,000. 21.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the company. Wolfe Research lowered Vale from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, October 9th. UBS Group lowered Vale from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $14.00 to $11.50 in a research report on Monday, November 11th. StockNews.com started coverage on shares of Vale in a research report on Friday. They issued a “buy” rating for the company. Scotiabank dropped their price objective on shares of Vale from $16.00 to $14.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. decreased 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $14.38.

Vale Stock Down 2.2 %

Shares of NYSE:VALE opened at $9.26 on Friday. The firm has a market cap of $41.51 billion, a PE ratio of 4.29, a price-to-earnings-growth ratio of 0.27 and a beta of 0.91. The company has a fifty day simple moving average of $10.33 and a 200 day simple moving average of $10.72. The company has a current ratio of 0.91, a quick ratio of 0.58 and a debt-to-equity ratio of 0.39. Vale S.A. has a 12-month low of $9.22 and a 12-month high of $16.08.

Vale (NYSE:VALE) last released its earnings results on Thursday, October 24th. The basic materials company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.15. Vale had a net margin of 22.59% and a return on equity of 21.07%. The company had revenue of $9.55 billion during the quarter, compared to the consensus estimate of $9.61 billion. During the same quarter in the previous year, the firm earned $0.66 EPS. On average, equities research analysts anticipate that Vale S.A. will post 2.08 EPS for the current fiscal year.

Vale Profile

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.