Ninety One UK Ltd Cuts Stake in Vale S.A. (NYSE:VALE)

Ninety One UK Ltd trimmed its stake in Vale S.A. (NYSE:VALE) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,410,197 shares of the basic materials company’s stock after selling 266,225 shares during the quarter. Ninety One UK Ltd’s holdings in Vale were worth $56,858,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Vale by 3,692.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 18,200,000 shares of the basic materials company’s stock valued at $212,576,000 after purchasing an additional 17,720,100 shares in the last quarter. Holocene Advisors LP purchased a new position in Vale in the third quarter valued at approximately $80,300,000. Itau Unibanco Holding S.A. lifted its position in Vale by 123.4% during the third quarter. Itau Unibanco Holding S.A. now owns 12,059,814 shares of the basic materials company’s stock valued at $140,859,000 after buying an additional 6,660,933 shares in the last quarter. FMR LLC grew its stake in Vale by 18.2% during the third quarter. FMR LLC now owns 36,605,338 shares of the basic materials company’s stock worth $427,550,000 after buying an additional 5,635,167 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Vale by 106.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 9,721,066 shares of the basic materials company’s stock worth $86,226,000 after acquiring an additional 5,001,228 shares in the last quarter. Institutional investors and hedge funds own 21.85% of the company’s stock.

Vale Stock Up 0.7 %

Shares of Vale stock opened at $9.43 on Wednesday. The firm has a market cap of $42.78 billion, a price-to-earnings ratio of 4.36, a P/E/G ratio of 0.29 and a beta of 0.91. The stock has a 50-day simple moving average of $9.11 and a 200-day simple moving average of $10.08. Vale S.A. has a 52-week low of $8.38 and a 52-week high of $13.77. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.91 and a quick ratio of 0.58.

Analyst Upgrades and Downgrades

A number of research analysts have commented on VALE shares. Barclays reduced their price objective on Vale from $16.00 to $15.25 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. Scotiabank decreased their price target on Vale from $14.00 to $13.00 and set a “sector perform” rating for the company in a report on Monday, January 6th. Morgan Stanley downgraded shares of Vale from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $14.50 to $11.30 in a research report on Thursday, December 12th. UBS Group cut shares of Vale from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $14.00 to $11.50 in a research report on Monday, November 11th. Finally, Jefferies Financial Group lowered their price target on shares of Vale from $14.00 to $11.00 and set a “buy” rating for the company in a report on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Vale presently has an average rating of “Hold” and a consensus target price of $13.89.

Vale Company 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.