Prime Capital Investment Advisors LLC Sells 6,847 Shares of Vale S.A. (NYSE:VALE)

Prime Capital Investment Advisors LLC lowered its holdings in Vale S.A. (NYSE:VALE) by 7.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,086 shares of the basic materials company’s stock after selling 6,847 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Vale were worth $1,041,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Pacifica Partners Inc. bought a new stake in shares of Vale in the 2nd quarter valued at approximately $27,000. Lowe Wealth Advisors LLC bought a new stake in Vale in the second quarter valued at $45,000. Keynote Financial Services LLC acquired a new position in Vale during the first quarter worth $126,000. Phillips Wealth Planners LLC bought a new position in shares of Vale during the third quarter valued at $118,000. Finally, Vawter Financial Ltd. acquired a new stake in shares of Vale in the 2nd quarter valued at $124,000. Institutional investors and hedge funds own 21.85% of the company’s stock.

Analyst Ratings Changes

VALE has been the topic of several research analyst reports. StockNews.com assumed coverage on shares of Vale in a research note on Friday, October 18th. They set a “buy” rating on the stock. UBS Group cut Vale from a “buy” rating to a “neutral” rating and dropped their price target for the company from $14.00 to $11.50 in a report on Monday. Scotiabank reduced their price objective on Vale from $17.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 15th. Wolfe Research lowered Vale from a “peer perform” rating to an “underperform” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a research report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.83.

Vale Trading Down 0.7 %

VALE opened at $9.82 on Friday. The firm has a 50 day simple moving average of $10.79 and a 200 day simple moving average of $11.15. Vale S.A. has a fifty-two week low of $9.66 and a fifty-two week high of $16.08. The company has a market cap of $44.02 billion, a price-to-earnings ratio of 4.55, a price-to-earnings-growth ratio of 0.27 and a beta of 0.94. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.91 and a quick ratio of 0.58.

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, beating analysts’ consensus estimates of $0.41 by $0.15. Vale had a return on equity of 21.07% and a net margin of 22.59%. The company had revenue of $9.55 billion for the quarter, compared to the consensus estimate of $9.61 billion. During the same quarter in the prior year, the business posted $0.66 EPS. On average, sell-side analysts anticipate that Vale S.A. will post 2.12 earnings per share for the current 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.