Vale S.A. (NYSE:VALE) Shares Purchased by Ping Capital Management Inc.

Ping Capital Management Inc. lifted its position in shares of Vale S.A. (NYSE:VALE) by 76.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 74,000 shares of the basic materials company’s stock after buying an additional 32,000 shares during the period. Ping Capital Management Inc.’s holdings in Vale were worth $656,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in 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 buying an additional 17,720,100 shares during the period. Holocene Advisors LP acquired a new position in Vale during the third quarter worth approximately $80,300,000. Itau Unibanco Holding S.A. raised its stake 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 worth $140,859,000 after purchasing an additional 6,660,933 shares during the period. FMR LLC boosted its holdings in shares of Vale by 18.2% in the 3rd quarter. FMR LLC now owns 36,605,338 shares of the basic materials company’s stock valued at $427,550,000 after purchasing an additional 5,635,167 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Vale by 106.0% during the 4th 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 buying an additional 5,001,228 shares during the last quarter. Institutional investors and hedge funds own 21.85% of the company’s stock.

Vale Stock Performance

VALE stock opened at $9.43 on Wednesday. Vale S.A. has a 1 year low of $8.38 and a 1 year high of $13.77. The stock has a market capitalization of $42.78 billion, a price-to-earnings ratio of 4.36, a PEG ratio of 0.29 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. The stock’s fifty day moving average is $9.11 and its two-hundred day moving average is $10.08.

Wall Street Analysts Forecast Growth

VALE has been the topic of several research reports. Morgan Stanley lowered Vale from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $14.50 to $11.30 in a research report on Thursday, December 12th. 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. Jefferies Financial Group dropped their price objective on shares of Vale from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com began coverage on shares of Vale in a research note on Friday, December 13th. They issued a “buy” rating for the company. Finally, Barclays cut their price target on Vale from $16.00 to $15.25 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. 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, 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.