Vale S.A. (NYSE:VALE) Position Lowered by SPX Gestao de Recursos Ltda

SPX Gestao de Recursos Ltda lessened its stake in shares of Vale S.A. (NYSE:VALE) by 69.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,780,214 shares of the basic materials company’s stock after selling 15,189,723 shares during the period. Vale accounts for approximately 10.5% of SPX Gestao de Recursos Ltda’s portfolio, making the stock its 3rd biggest position. SPX Gestao de Recursos Ltda’s holdings in Vale were worth $79,193,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of VALE. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Vale during the third quarter worth about $28,000. Point72 Hong Kong Ltd purchased a new stake in Vale during the third quarter worth about $36,000. Wilmington Savings Fund Society FSB purchased a new stake in Vale during the third quarter worth about $79,000. Vienna Asset Management LLC purchased a new stake in Vale during the third quarter worth about $117,000. Finally, Phillips Wealth Planners LLC purchased a new stake in Vale during the third quarter worth about $118,000. Hedge funds and other institutional investors own 21.85% of the company’s stock.

Vale Price Performance

NYSE:VALE traded down $0.18 during trading hours on Friday, hitting $9.29. The company’s stock had a trading volume of 5,411,041 shares, compared to its average volume of 27,552,592. The business’s 50-day moving average is $10.37 and its two-hundred day moving average is $10.76. The company has a market capitalization of $41.65 billion, a PE ratio of 4.38, a PEG ratio of 0.27 and a beta of 0.91. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.58 and a current ratio of 0.91. Vale S.A. has a 52-week low of $9.25 and a 52-week 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 (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.15. The firm had revenue of $9.55 billion during the quarter, compared to analysts’ expectations of $9.61 billion. Vale had a return on equity of 21.07% and a net margin of 22.59%. During the same quarter in the prior year, the business posted $0.66 earnings per share. As a group, research analysts anticipate that Vale S.A. will post 2.08 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on VALE. Wolfe Research downgraded Vale from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, October 9th. Morgan Stanley downgraded Vale from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $14.50 to $11.30 in a research report on Thursday. StockNews.com began coverage on Vale in a report on Friday. They issued a “buy” rating for the company. Barclays lowered their price target on Vale from $16.00 to $15.25 and set an “overweight” rating for the company in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. lowered their price target on Vale from $16.50 to $15.00 and set an “overweight” rating for the company in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Vale has an average rating of “Hold” and a consensus price target of $14.38.

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.